News Roundup - January 21, 2008

New Europe: The Kashagan Saga: the end or just the beginning?

The long and difficult negotiations over Kazakhstan’s oil-rich Kashagan field finished a day before the peaceful and amicable period would cross over to a litigation phase…

Ferghana.ru: Kazakhstan: Opposition activist Akejan Kajegeldin is optimistic

The government of Germany retains vivid interest in Central Asia, and consultations with Kazakh ex-premier Akejan Kajegeldin convened by the office of the federal chancellor on January 16 confirm it…

Oil and Gas Eurasia: KMG and IPIC to cooperate in gas chemical project in West Kazakhstan

National Company KazMunaiGas (KMG) and Arabian International Petroleum Investment Company (IPIC) signed a Memorandum of Understanding in which they agreed on future participation of IPIC in the first integrated gas chemical facility project in a small town of Karabatan in Atyrau region…

Eurasianet: International telecoms eye Central Asian mobile market

International telecoms are eager to expand their presence in Central Asia, their hopes buoyed by low, but growing penetration rates and the absence of a quality fixed line infrastructure. Researchers, meanwhile, are finding that mobile phones are preferred over the Internet as a means for receiving information…

Reuters: Petrolinvest proved reserves 102 million barrels

Polish oil firm Petrolinvest estimates its proved crude reserves at 102 million barrels and probable reserves at 1.03 billion barrels after it acquired additional shares, its chief executive said on Friday…

ShareCast: Broker snap: Kazakhmys good value after price fall, HSBC says

Recent falls in the share price of Kazakhmys prompted HSBC to upgrade the Kazakhstan-focussed miner to ‘overweight’ from ‘neutral’…

CNN Money: Caspian Services, Inc. announces full year 2007 results

Revenues of $64.9 million, up 51% year on yearNet income before taxes and Minority Interests of $14.9 million, up 805% year on yearNet income of $9.5 million vs. a loss of $1.7 million in 2006…

canoe money: Alhambra Resources sets 2008 capital budget at $6M for Kazakhstan project

Alhambra Resources Ltd. (TSXV:ALH) has set a preliminary 2008 capital budget of $6 million for its Uzboy gold project in north-central Kazakhstan…

The Oil and the Glory: Why Russia is winning the pipeline war

In another example of the role of personal diplomacy in the battle, Putin was in Sofia today and signed a deal nailing down Bulgaria’s role as the principal transit point for the South Stream natural gas pipeline, which is meant to cement Russia’s dominance of southern Europe’s gas supply…

United Press International: Analysis: Russia eyes Caspian projects

While Western investors looking at offshore Caspian development tend to concentrate their attention on Azeri and Kazakh offshore fields, Russia is now moving swiftly to develop projects in its own self-defined sector of the Caspian…

United Press International: Analysis: U.S. has ally in Azerbaijan

In retrospect, 2007 will be remembered as the high-water mark of Washington’s attempts to develop the Caspian’s post-Soviet hydrocarbon riches. If early 2008 is any indication, then the one remaining friend that America has in the Caspian basin is Azerbaijan…

Melbourne Herald Sun: Kazakhstan poised to tap riches

On the face of it, there is nothing particularly remarkable about the Deloitte operation in the former Soviet state of Kazakhstan…