news roundup
News Roundup - January 22, 2008
Money Morning: Kazakhstan squeezes the last drop out of Eni
Under the terms of a new agreement Eni S.p.A (E), the Italian oil company, will cede its control over operations at the Kashagan oil field in Kazakhstan. Kazakhstan’s state oil company, KazMunayGaz, will pay $1.78 billion to double its stake in the project from 8.33% to 16.81%…
Reuters: Kazakhstan bank assets grow 32 percent in 2007
Kazakh banks’ aggregate asset growth slowed to 31.7 percent in 2007 from almost 100 percent in 2006 due to the global liquidity squeeze, the country’s financial regulator said on Monday…
Wall Street Journal: The Caspian moment
The Caspian is back on the international energy agenda. Our region, rich in oil and gas, is emerging from the Soviet past with a bang. But we still have unfinished business. Regional integration is a priority for Azerbaijan…
Gazeta.KZ: Kashagan agreement will help lessen political risks on the project - Fitch Ratings
Fitch Ratings stated that the agreement signed between Kazakhstani government and the consortium developing Kashagan oil field headed by Eni Spa (”AA-” rating/ forecast “Stable”) should help to lessen political risks about the project…
Kazakh Government adopted a law ‘On ratification of the Agreement between the Governments of the Republic of Kazakhstan and Russian Federation on cooperation in the development of an economic entity on the base of Orenburg Gas Processing Plant’…
TREND: Kazakhstan Temirjoli to increase railway prices
The company Kazakhstan Temirjoli require Government support to increase railway service tariffs by 15%. Jaksibek Kulekev, the head of the Kazakhstan Temirjoli said in a meeting of the Ministry of Transport and Communication held with the participation of the prime minister Kerim Mesimov…
The Oil and the Glory: Horelma! Horelma Peramam! Stand up and be counted
Only, who is Horelma? I’m no slouch on Kazakhstan wealth, and I’ve never heard that name. Neither have any of a multitude of friends who have emailed asking about this fellow. A Google search pulls up 2,800 listings. All of them about this land sale…
Times Online: Sale of ‘Top Whack Mansion’ is £50m record
Toprak Mansion on The Bishop’s Avenue, Barnet, sold last week for £50m, breaking a record for a newly built property which was set only two weeks ago by a nearby house called Palladio, which was sold for £35m. The name of the Toprak purchaser was given as Horelma Peramam, a billionaire from Kazakhstan…
Forbes: Poland’s Petrolinvest plans output at minimum of 5,600 bpd by end-2008
Polish oil exploration venture Petrolinvest plans to produce at least 5,600 barrels of oil per day from deposits in Kazakhstan, the company’s chief executive said, supporting its shares on a battered Warsaw equity market…
Neweurasia.net: Potential water wars
Where may we see the wars for water in Central Asia?
1. Kazakhstan vs. China – Ili river;
2. Turkmenistan vs. Uzbekistan – Amu Darya river;
3. Possibly a row of collisions can happen in the basins of Syr Darya and Chu rivers; Kazakhstan vs. Uzbekistan – at Shardara, and Kazakhstan vs. Kyrgyzstan – for Shu river waters…
The rivalry situation is deteriorating in the oil sea transportation market in the Caspian Sea, Marat Ormanov, the Director General of Kazmortransflot, said to Trend Capital in Astana on 21 January…
Eurasian Home Analytical Resources: Eurasian Economic Community - new phase of integration
The Eurasian Economic Community, set up in October 2000, constitutes an absolutely new integrationist formation with a clear-cut and up-to-date development concept. Its member states pursue economic integration as the primary goal in their relations. Economic integration undergoes 3 stages: a free trade zone, followed by a customs union and finally an integrated economic zone.
Financial Times: Arcelor Mittal in talks over Kazakh safety fears
ArcelorMittal, the world’s biggest steelmaker, is meeting trade union representatives on Tuesday in Brussels to address health and safety concerns in the wake of a recent accident in the company’s Kazakhstan operations that killed 30 people…
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