News Roundup - November 27, 2007

Itar-Tass: Russia to transport oil to China via Kazakhstan

Russia plans transporting to China 5 million tons of oil a year via Kazakhstan, Russian Minister of Industry and Energy Viktor Khristenko said…

RIA Novosti: Russia to start oil supplies to China via Kazakhstan in 2008

Russia will start supplies of up to 5 million metric tons (36.7 million barrels) of oil per year to China via Kazakhstan from 2008, the industry and energy minister said on Monday…

Times Online: Kazakh oil company turns to BG in search for ally

BG Group is in talks with the London-listed subsidiary of Kazakhstan’s national oil company over new joint ventures in oil and gas…

Forbes: KazMunaiGas EP seeks more acquisitions, targets higher volumes

KazMunaiGas Exploration Production, the Kazakh oil and gas producer, is planning at least two more acquisitions as part of its effort to boost production and reserves, chief executive Askar Balzhanov said…

Eurasia Daily Monitor: Russia hopes to enter Caspian market with new Kashagan deal

In the covert “great game” currently playing out between Russia and the United States to control the hydrocarbon assets of the Caspian, a glittering new prize has appeared on the horizon. Kazakhstan’s massive offshore Kashagan oilfield is the world’s largest discovery in the last 30 years.

Forbes: Raiffeisen offers to buy majority stake in Kazakh Temirbank

Austrian bank Raiffeisen International Bank Holding AG has made an offer to buy a majority stake in Kazakhstan’s Temirbank, Financial Times Deutschland reported, citing sources within the financial industry…

Gazeta.KZ: RK Finance Ministry to check Agip KCO

The Ministry of Finance of the Republic of Kazakhstan will execute tax check of Agip KCO, as reported today the RK Finance vice Minister, Daulet Ergozhin…

Reuters: Kazakhstan presses Western consortium over tax

Kazakhstan renewed its tax accusations against a consortium of Western oil companies developing the huge Kashagan oilfield on Monday ahead of a Nov. 30 deadline set for the talks…

Rigzone: KPO launches Karachaganak-Uralsk gas pipeline project

Prime Minister of the Republic of Kazakhstan, Karim Massimov, WKO Akim, Baktykozha Izmukhambetov, and other RoK officials visited the Karachaganak field and met with senior representatives from KPO’s major shareholders…

Interfax: KazMunaiTeniz, Lukoil to finish drilling Atash exploration well by autumn 2008

TOO Atash, a company formed on a parity basis between Offshore Oil Company KazMunaiTeniz and Lukoil Overseas, plans to complete construction of its first exploration well at the Atash section in the Kazakh sector of the Caspian sea in the third quarter of 2008, all three companies said in a joint pres release…

Interfax: S&P withdraws Eurasia Insurance Co. ratings

Standard & Poor’s Ratings Services has affirmed the financial strength and counterparty credit ratings of Kazakhstan-based Eurasia Insurance Co. (Eurasia) at ‘B’ with a stable outlook, and then, at the company’s request, withdrew the rating…

EnerPub: Gazprom continues gas talks in Turkmenistan

Following a recent trip to China, Russia natural gas giant Gazprom continues to move forward on natural gas deals - this time in Turkmenistan…

Eurasia Daily Monitor: West racing Russia for Turkmen gas

On November 23 in Ashgabat, Russian Prime Minister Viktor Zubkov and Gazprom president Alexei Miller held tense talks with Turkmen President Gurbanguly Berdimukhamedov on joint gas projects…