News Roundup

News Roundup - December 7, 2007

By SRI ⋅ December 7, 2007 ⋅

Reuters: Kazakh leader to meet Exxon reps on Kashagan

Kazakh President Nursultan Nazarbayev is due to meet senior Exxon Mobil officials on Thursday as talks on the future of the huge Kashagan oilfield continue, a source in the presidential administration said…

The Oil and the Glory: Don Quixote and Exxon’s contrarian gamble

Does Exxon Mobil know something that the rest of Big Oil doesn’t? Or is Exxon on a noble but ultimately quaint and quixotic quest for the old days? …

CNN Money: Kazakh PM defends right to arbitrate resources pacts

Kazakh Prime Minister Karim Masimov Thursday defended his government’s right to intervene in natural resources contracts if investors violate their terms or try to sell their resources business…

The Economist: Joining the club

Four years of intense diplomacy bore fruit on November 30th when the Organisation for Security and Co-operation in Europe (OSCE) awarded its rotating chairmanship in 2010 to Kazakhstan…

Global Voices Online: Do Kazakh politics coincide with OSCE standards?

The main issue on the local blogosphere’s agenda are politics again – Kazakhstan with its controversial, more and more Soviet-alike political system and continuously poor human rights record, has won the top post in the Europe’s leading democracy promoting institution, OSCE…

International Herald Tribune: Alexandre Vinokourov banned 1 year by Kazakhstan cycling federation for doping

Alexandre Vinokourov was banned one year by the Kazakhstan cycling federation for doping. The ban was announced Thursday by Vinokourov’s former Astana team in a statement on its Web site…

Eurasia Daily Monitor: Kazakhstan to chair the OSCE: Splitting the Russia-led block?

The OSCE’s year-end meeting in Madrid has resolved that Kazakhstan shall hold the organization’s Chairmanship in 2010. In 2008 already, Kazakhstan will host the annual session of the OSCE’s Parliamentary Assembly…

Reuters: Caspian Services, Inc. breaks ground on its marine base development project

Caspian Services, Inc. announces that it has broken ground for the construction of its Atash marine base facility at the Port of Bautino on Kazakhstan’s Caspian Sea coast…

Nine O’Clock: Daniyar Berlibaiev, one of the KazMunayGaz deputy chairmen on Rompetrol

Kazakhstan’s oil corporation KazMunayGaz announced, according to Mediafax, that Daniyar Berlibaiev, one of the KazMunayGaz deputy chairmen, was appointed to chair the Rompetrol Group Board of Directors, while Dinu Patriciu will act as executive manager…

EurasiaNet: Central Asia and Caucasus: Governments rely on old-style methods to contain inflation

The International Monetary Fund (IMF) and other international financial institutions have cautioned that despite impressive economic growth in CIS member states, the threats to social stability posed by galloping inflation remain strong, and that these dangers should be addressed via stringent fiscal policies…

Guardian Unlimited: Kazakh PM says economic growth set to cool in 2008

Kazakhstan will benefit from cooling growth next year, preventing the economy from overheating, Prime Minister Karim Masimov said on Thursday…

Reuters: KazMunaiGas to buy stake in Kazakh oil firm

Kazakh state oil firm KazMunaiGas intends to buy a blocking stake in local oil company MangistauMunaiGas, Kazakh Prime Minister Karim Masimov said on Thursday…

Interfax: IFC to provide Caspian Bank $105 mln

The International Finance Corporation (IFC) plans to provide $105 million to Kazakhstan’s Caspian Bank, the IFC said in a statement…

Reuters: Arcelor Mittal plans $700 mln Kazakh investment

Arcelor Mittal plans to invest $400-500 million raising coal output in Kazakhstan and a further $200 million doubling long product capacity at its steel mill there, Chief Executive Lakshmi Mittal said on Thursday…

Reuters: Kazakh Air Astana launches $1.7 bln plane tender

Kazakhstan’s state-controlled carrier Air Astana plans to call a $1.7 billion tender to buy nine planes with an option to purchase another nine, the company’s managing firm said on Thursday…

Thomson Financial: Kazakh govt may change contract with ENI, others in Kashagan oilfield project

Kazakh Prime Minister Karim Masimov said on Thursday that the government could force through changes to a contract with Western investors on developing the vast Kashagan oil field in the Caspian Sea…