News Roundup

News Roundup - April 21, 2008

By SRI ⋅ April 21, 2008 ⋅

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energy:

Chevron’s Kazakhstan venture fined $307 mln

(Reuters) - Tengizchevroil, a Chevron Corp-led oil venture in Kazakhstan, said on Friday it faced a fine of $307 million for violating environmental law at its main production site in the central Asian state…

Tengizchevroil to challenge latest environmental fine (Oil & Gas Journal)

Fitch release on Kazakh oil industry

(Reuters) - Fitch Ratings has said today that the imposition of an oil export duty announced by the Kazakhstani Prime Minister is unlikely to have a material impact on the credit profiles of the oil and gas companies operating in Kazakhstan…

Tengizchevroil to pay Kazakh state more than in 2007 - head

(Interfax/Black Enterprise) - Tengizchevroil pays the Kazakh state $5 billion a year but plans to pay it a minimum of $5.5 billion for 2008…

Petrofac wins additional award at Kashagan facility in Kazakhstan (RTT News)

mineral resources:

Kazakhstan may impose metals export duty

(Reuters) - Kazakhstan may impose a metals export duty to raise budget revenues, a senior government official said on Friday, triggering a barrage of criticism from key industry players in the resource-rich nation…

Kazakh metals majors criticise proposed export duty

(Reuters) - Kazakh metals majors on Friday strongly criticised a government proposal to impose a metals export duty, saying the move would make their products less competitive on the global market…

Kazakh miners hit by metals export duty proposals

(Reuters) - Shares in Kazakhmys and ENRC fell over 5 percent on Friday, as traders cited Kazakh government proposals to impose a metals export duty…

Kazakh miners slide on threat of export duty (Financial Times)

ENRC will co-operate with Kazakhstan over potential tax, customs changes (Thomson Financial/Hemscott)

business and investment:

Kazakhstan Temir Zholy’s ‘BB+/kzAA-’ ratings affirmed, outlook stable - S&P

(Thomson Financial/CNN Money) - Standard & Poor’s Ratings Services said it affirmed Kazakh national railroad company Kazakhstan Temir Zholy’s ‘BB+’ long-term corporate credit and ‘kzAA-’ national scale ratings with a stable outlook…

Kazakhstan’s trade surplus rises to $5.7 bln

(Reuters) - Kazakhstan’s foreign trade surplus widened to $5.7 billion in January-February 2008 from $2.2 billion in the same period of last year…

Kazakhstan to export wheat only to Kyrgyzstan (AgriMarket.info)

Kazakhstan - Kazakhstan - April 18

(Reuters) - Kazakhstan’s economic indicators based on data provided by the State Statistics Agency, government institutions, the central bank and exchanges…

politics:

Kazakhstan could change tactics at WTO entry talks – Astana

(Interfax) - “The situation with the WTO accession talks could be adjusted given the witnessed trend on the world food market,” Shkolnik said at a governmental meeting…

Coup plots and corruption alleged as former presidential son-in-law battles authorities

Analysts and opposition politicians say the high-stakes information war, being fought out in the country’s courts, on the airwaves, and in cyberspace, only scratches the surface in revealing the corruption they say is at the heart of the oil-rich country’s political system…

Summing up the visit of president of Kyrgyzstan to Kazakhstan (neweurasia.net)

Kyrgyz president returns from fence-mending trip to Astana (Radio Free Europe/Radio Liberty)

President of Uzbekistan to visit Kazakhstan (Kazinform)

Kazakh Ambassador met with German ex-Chancellor and Economy Minister (Kazinform)

regional news:

Turkmenistan seeks energy cooperation, offshore PSAs

(Oil & Gas Journal) - Turkmenistan will allow international oil companies to develop Caspian Sea offshore deposits under production-sharing agreements, said Tacberdi Tagyyew, deputy chairman of the Turkmen council of ministers…

other:

Russian Soyuz, with Korean space pioneer, lands off mark

(AP/New York Times) — A Russian Soyuz capsule carrying South Korea’s first astronaut landed on Saturday in northern Kazakhstan 260 miles off its mark and 20 minutes late, Russian space officials said…

Soyuz spacecraft lands off-target (BBC News)

Semipalatinsk offers insights for today’s nuclear monitoring (Science Centric)

analysis:

Kazakhstan and Mongolia broaden relations

(Eurasia Daily Monitor) - While Kazakhstan has been a magnet for foreign investment since 1991, attracting nearly $40 billion, primarily in the energy sector, it has been modestly investing some of its surplus petroleum revenue in Mongolia since 2000…