Archive for December 10th, 2007
News Roundup - December 10, 2007
International Herald Tribune: Kazakhstan seeks settlement on oil field delay
Kazakhstan wants either to raise its stake or receive compensation for cost overruns and delays in the Kashagan offshore field, the world’s largest oil find in more than three decades, the Kazakh president, Nursultan Nazarbayev, said Friday…
Financial Times: Kazakh president upbeat on Kashagan settlement
Nursultan Nazarbayev, the president of Kazakhstan, said yesterday he expected the Kashagan dispute to be settled amicably and that Eni of Italy would remain the operator of the foreign consortium developing the giant Caspian Sea oilfield…
Eurasia Daily Monitor: Nazarbayev hints at larger state share in Kashagan
According to Kazakh Energy Minister Baktykozha Izmukhambetov, delays in bringing the massive Caspian offshore Kashagan field online have pushed back the date for the first “early oil” from 2008 to 2010. Kashagan was originally scheduled to begin production in 2005…
Surprising no one, it is now obvious that “environmental concerns” were not at the heart of the Kashagan dispute, but rather about Kazakhstan’s burgeoning oil nationalism…
New Europe: Don’t mess with Texas: Exxon’s tough play in Kashagan
At the end of 2006, when Shell was effectively forced to yield majority control over the huge Russia’s Sakhalin II field to Gazprom, Shell CEO Jeroen van der Veer stood up at the press conference and smiled through gritted teeth…
United Press International: Analysis: Kazakh oil and Western woes
The consolidation of the Kazakh energy industry proceeds apace, and what it eventually means for Western energy companies and investors is unclear…
Financial Times: ENRC set to complete London IPO
Eurasian Natural Resources Corporation, the Kazakhstan-based mining company, was poised last night to complete an initial public offering that will raise about £1.36bn, one of the biggest listings on the London Stock Exchange this year…
Reuters: Eurasian Natural Res - Successful completion of IPO
Eurasian Natural Resources Corporation PLC, a leading diversified natural resources group, today announces an offer price of 540 pence per share in respect of its Initial Public Offering of Ordinary Shares of US$0.20 to institutional investors, and that conditional trading in the Ordinary Shares will begin on the London Stock Exchange’s main market today…
Bloomberg: Eurasian Natural Resources shares advance in London
Eurasian Natural Resources Corp. advanced 17 percent on its first day of trading after raising 1.36 billion pounds ($2.76 billion), the biggest initial public offering by a metals or mining company in London this year…
Interfax: Kazakhstan to begin feasibility study for NPP construction
A feasibility study will be launched on the construction of a nuclear power plant near Aktau, the administrative center of Kazakhstan’s Mangistauz region, after local delegates gave their consent to such a study during public hearings held in the city on Friday…
Forbes: ArcelorMittal to invest 600-700 mln usd in Kazakhstan
ArcelorMittal plans to invest 600-700 mln usd in expanding its production in Kazakhstan, a spokesman told Agence France-Presse…
TREND: Kazakhstan intends to further improve close relations with regions and OSCE countries
Kazakhstan’s chairmanship of the OSCE in 2010 is a great success which is based on the development of the country, a permanent public attorney of Kazakhstan in Azerbaijan Arman Kaitbayov said…
The promised OSCE chairmanship is a major foreign political triumph for Kazakhstan and this opinion is shared by everyone in the republic including President Nursultan Nazarbayev himself…
Registan. net: Think about the OSCE
In 2010, history will be made: for the first time ever, a former SSR will become the chairman of the organization most recently known for monitoring elections (or not, in the case of Russia) than for doing anything involving security…
New York Times: Oil money flows, and city prospers
Infused with newly flowing oil money, Kazakhstan’s largest city is flush with nightclubs and exotic restaurants. The city’s main boulevards are lined with English-language signs; boutiques sell everything from Armani to gem-encrusted Vertu cellphones, and cafes serve the latest in overpriced coffee concoctions…
Forbes: JSC Alliance Bank 9-month net profit rises; downgrades FY profit forecast
JSC Alliance Bank has downgraded its net profit forecast for the full year, after it earlier reported an increase in profits for the nine months to the end of September 2007…
RIA Novosti: EBRD to invest about $1 bln in Kazakh economy next year
The European Bank for Reconstruction and Development (EBRD) will invest around $1 billion in Kazakhstan in 2008, Kazakh President Nursultan Nazarbayev said on Friday…
International Herlad Tribune: Ukraine, Poland agree to reverse flow of key oil pipeline
The leaders of Ukraine and Poland agreed Friday to reverse the flow of a key oil pipeline in western Ukraine in mid-2008, a move to improve regional energy security and reduce dependence on Russian crude…
