News Roundup - December 30, 2007

Wall Street Journal: Oil Firms Are Called to Talks On Stalled Kashagan Project

The government of Kazakhstan has signaled what could be a breakthrough in its standoff with foreign oil companies developing the massive Kashagan oil field in the northern Caspian Sea…

Financial Post: Russia dominates energy stories, but Kazakhstan-Eni dispute takes top spot

Russia may have dominated the rankings for biggest global energy story in 2007, but it was neighbouring Kazakhstan that topped Wellington West’s list…

Bloomberg: Eni May Cancel 9% of Its Stock; Sees Kashagan Settlement Soon

Eni SpA, Italy’s biggest oil company, may cancel 9 percent of its own stock and begin a new share buyback program, Chief Executive Officer Paolo Scaroni said…

Radio Free Europe / Radio Liberty: The Forgotten Famine

About 70 kilometers west of Kazakhstan’s commercial capital, Almaty, the village is dissected by a highway. Farmers work in the fields growing mainly melons and wheat…

Fox News: Kazakstan Kagazy Announces Share Capital Increase in Its Subsidiaries and Loan Repayment

Kazakhstan Kagazy PLC, owner of one of Kazakhstan’s leading industrial groups, today announced the decision of the Board of Directors of Kazakhstan Kagazy JSC, its wholly owned subsidiary, and its affiliated companies to increase the share capital of Kagazy Recycling LLP and affiliated companies by US$ 10 million…

Forbes: Kazakhstan’s KazMunaiGas rated ‘Baa2′ with stable outlook - Moody’s

Moody’s Investors Service assigned a ‘Baa2′ issuer rating and stable outlook to JSC KazMunaiGas Exploration Production (KMG), the second-largest oil producer in Kazakhstan…

Oil and Gas Journal: Kazakhstan nonstate gas field flow starts

Tethys Petroleum Ltd., Guernsey, Channel Islands, UK, started gas production on Dec. 19 from Kyzyloi gas field in Kazakhstan northwest of the Aral Sea…

United Press International: Outside View: Nabucco cut by Caspian line

The last few months of 2007 were good for Russia, which has been fighting this year to affirm its leadership in the hydrocarbons market. And it may have spelled the end for the Nabucco pipeline, which Europe has wanted as a way to bypass reliance on Moscow…

Reuters: Kazakh Kazkommertsbank repays $700 mln loan tranche

Kazkommertsbank, Kazakhstan’s biggest lender, said on Wednesday it had repaid a $700 million syndicated loan tranche…

People’s Daily: Chinese oil giant to finance Central Asia-China gas pipeline

China National Petroleum Corporation (CNPC) will invest 16 billion yuan (2.16 billion U.S. dollars) to fund construction of a planned Central Asia-China natural gas pipeline, CNPC’s listed subsidiary PetroChina said on Friday…