News Roundup - December 20, 2007

Forbes: Kazakhstan’s outlook cut to negative, ‘BBB’ rating affirmed - Fitch

Fitch Ratings said it revised the outlook on Kazakhstan’s long-term issuer default rating to negative from stable and affirmed the country’s long term issuer default at ‘BBB’…

Forbes: KazMunaiGaz’s long-term IDR outlook cut to negative from stable - Fitch

Fitch Ratings said it cut the outlook on Kazakh national oil company KazMunaiGaz’s (KMG) long-term foreign and local currency issuer default ratings (IDR) to negative from stable to reflect a similar change in the outlook for the Republic of Kazakhstan’s ‘BBB’ long-term IDR…

Reuters: Russia to seal Central Asian gas pipeline deal

Russia, Turkmenistan and Kazakhstan are to sign a deal on Thursday on building a pipeline that will allow Moscow to keep Central Asian gas flows to the West under its control, sources and analysts said on Wednesday…

Neweurasia.net: Kazakhstan in 2007: Filthy Politics and Grapes of Wrath

The passing year was rich in shaking news and political scandals in Kazakhstan, all of which have been finding reflection in the blogosphere’s reactions and online debates. Many of those events will find their place in the history textbooks of the future, and life may never remain the same after 2007…

Bloomberg: Max Petroleum Halts Output at Zhana Makat Field in Kazakhstan

Max Petroleum Plc., a U.K. oil explorer operating in Kazakhstan, suspended oil production at its Zhana Makat field as it waits for government approval of its gas-utilization plan…

Guardian Unlimited: Kazakh banking system stabilised in Nov - Saidenov

The condition of Kazakhstan’s banking system improved in November, with deposits rising and the monetary authorities able to accumulate dollar reserves, the head of the National Bank said on Wednesday. “November preliminary data show that the overall situation is stabilising,” National Bank Chairman Anvar Saidenov told a news briefing…

Reuters: Kazakhstan Jan-Nov copper output falls 6.0 pct

Kazakhstan’s refined copper output fell 6.0 percent year-on-year to 363,434 tonnes in the January-November 2007, the statistics agency said on Thursday…

Radio Free Europe / Radio Liberty: Russian Group Storms Onto Kazakh, Uzbek TV Scenes

A Russian media conglomerate’s recent expansion into Central Asia has sparked considerable discussion in the region. Is it just a smart business deal — or another instance of Moscow’s intention, by stealth or by wealth, to reassert hegemony over the lands of its former empire, this time by broadcasting Russian-language soap operas and other fluff rather than news and information?

TREND: Kazakhstan Regards BTC as Important Route for Export of its Oil

Kazakhstan regards the Baku-Tbilisi- Ceyhan pipeline (BTC) as an important and prospective alternative for transport of its hydrocarbon resources, Kazakhstan’s charge d’affaires in Azerbaijan Arman Kairbaev said on 14 December…

Kommersant: Kazakhs Dissatisfied after Rocket Crash

The Kazakhs demanded compensation to pay for the monitoring of the health of local residents for three years, to obtain special medical equipment, to compensate for agricultural lands that would lay fallow in the “threat zone,” compensation for ecological damage and for general aid to the residents of Karaganda Region…

Associated Press: New ‘Great Game’ for Central Asia Riches

The driver of the 18-wheel tractor-trailer from China idling at the Kazakhstan-China border said apples were the cargo he brought to Almaty, Kazakhstan’s booming commercial center…

Hemscott: Hambledon Mining says gold production started at Sekisovskoye project

Hambledon Mining PLC said gold production has started at its Sekisovskoye project in Kazakhstan. The first gold pour will take place on Dec 26, it said…

Ferghana.ru: The government of Kazakhstan is determined to repossess energy assets

“Wherever possible, the government of Kazakhstan stands for repossession of energy assets in strategic spheres in the name of energy security,” Prime Minister Karim Masimov told Nur Otan faction of the parliament. “Certain steps in this direction are already taken.”

Neweurasia.net: Interesting Islands

There are very beautiful islands in the Carribean Sea - British Virgin Islands - a paradise corner, governed by a British governor. You can have a gorgeous vacation and start an offshore firm. 41 per cent of all offshore companies are registered on the BVI…

Hemscott: Zhaikmunai to revise IPO schedule pending outcome of talks with Kazakh govt

Zhaikmunai LP said it has extended its previously planned IPO schedule pending the outcome of ongoing discussions with Kazakhstan’s Ministry of Energy & Mineral Resources and KazMunaiGaz National Co…

New Europe: Russia to forge ahead with Pre-Caspian gas pipeline

Russian Prime Minister Viktor Zubkov has signed a decree instructing the Industry and Energy Ministry and Foreign Ministry to hold negotiations with Kazakhstan and Turkmenistan to construct the Pre-Caspian gas pipeline, Russia’s government’s press service said…

Reuters: Kazakhmys says copper South Mine restarts after flood

Kazakh copper miner Kazakhmys said on Friday that its South Mine in the Zhezkazgan complex has started producing and should be back to full production by the end of the year…

New York Times: Central Asia on Front Line in Energy Battle

In the scrub brush desert south of this ancient Silk Road town, the natural gas wellheads are built on modest concrete platforms about the size of basketball courts. Because the gas is naturally pressurized, pumps are not needed to bring it to the surface. Pipes simply kiss the ground and gas pours through them…

Rigzone: Kazakhs Seen with Raised Stake in Kashagan Deal

After months of hard bargaining and two missed deadlines, a consortium led by Italian Eni SpA (E) looks closer to settling a dispute over developing the offshore Kashagan oilfield in the northern Kazakhstan section of the Caspian Sea…