Archive for May 13th, 2008
Kazakh banks’ post-crisis potential
Some Kazakh banks are better situated than others to weather the current domestic crisis. The levels of exposure to the main source of risk, foreign debt financing, differ greatly among the banks, and may prove to be the deciding factor in their further growth.
News Roundup - May 13, 2008
energy:
Kashagan firms may delay, face Kazakh sanctions
(Reuters) - Kazakhstan threatened on Monday to slap sanctions on a Western consortium developing the giant Kashagan oilfield in the Caspian Sea should its operators decide to delay the start of production again…
Kazakh ministry: Eni-led group said Kashagan faces more delays (Dow Jones/CNN Money)
(Interfax) - The foreign partners of Agip KCO suggests that the commercial production at Kashagan field be postponed till 2012-2013, said Kazakh Minister of Energy and Mineral Resources Sauat Mynbaev…
Facts about Kashagan oilfield in Kazakhstan (Reuters)
Iran offers ocean to oil giant Kazakhstan
(Middle East Times) - Up to now, Kazakhstan, fearing to anger the United States, has made limited use of Neka, which last year received about 70, 000-80,000 bpd. But Iranian-Kazakh trade is steadily rising, in 2006 exceeding $2 billion, up from $700 million in 2004. Iran’s Caspian port of Amirabad also receives Kazakh oil imports…
Analysis: Turks eye carrying Kazakh oil
(UPI) - Kazakhstan, while currently relying on the international joint venture Caspian Pipeline Corp. pipeline to Russia’s Novorossiysk port on the Black Sea, nevertheless has plans to diversify its export routes to international markets and in this desire has no more ardent suitor than energy-poor Turkey, angling to position itself as the Caspian’s premier energy hub…
mineral resources:
Kazakhmys: ENRC had been considering ‘low ball’ informal approach for weeks, may walk away
(Financial Times/dealReporter) - A source familiar with ENRC’s thinking said he thought it was now likely to walk away. It would look strange if the company was able to make an increased firm offer within a week, the source said. ENRC held a board meeting this week at which numerous possible M&A transactions and capital expenditure projects were discussed. A follow-up board meeting will be held in the first half of next week, said the source…
Low ENRC bid for Kazakhmys was tactic - analysts
(Reuters) - Mining group ENRC’s takeover bid last week for Kazakh rival Kazakhmys, below the market value of the firm and certain to be rejected, was a bargaining tactic, analysts said…
Hambledon mining exports first gold from Sekisovskoye plant
(Bloomberg) - Hambledon Mining Plc, a producer of precious metals in Kazakhstan, exported gold for the first time from its Sekisovskoye processing plant…
business and economy:
(Reuters) - Kazakhstan’s economic indicators based on data provided by the State Statistics Agency, government institutions, the central bank and exchanges…
politics:
Culture and Information Minister and Kyzylorda akim changed
(Interfax) - Boltabek Kuandykov has appointed new Kyzylorda akim. Kuandykov, 47, replaced Mukhtar Kul-Mukhamed, who was in the office since January 2007…
Tajikistan backs initiatives of Kazakhstan aimed at regional integration - Rakhmon (Kazakhstan Today/Gazeta.kz)
Relations with Kazakhstan of paramount importance for Tajikistan: E. Rakhmon
(Kazinform)
A number of documents between Kazakhstan, Tajikistan signed (Kazinform)
President of Kazakhstan noted high level of political partnership with Tajikistan (Kazakhstan Today/Gazeta.kz)
Indonesian FM to make first visit to Kazakhstan (Kazinform)
President of Kazakhstan was presented a number of investment projects in Kyzyolrdinskaya oblast (Kazakhstan Today/Gazeta.kz)
society:
Astana to host 2nd Eurasian Women’s Summit (Kazinform)
Kazakh Diaspora in Kyrgyzstan to participate in cultural and ethnographic festival in Turkestan (Kazinform)
regional news:
IMF forecasts bright economic outlook for Middle East and Central Asia for 2008
(RTT News/NASDAQ) - The outlook for the Middle East and Central Asia continues to look favorable in 2008 notwithstanding the economic downturn in the rest of the world. With commodity prices including oil expected to remain high, surging investments coupled with strong productivity gains are expected to sustain growth above the 6 percent level in the regions…
Energy Roundup - May 13, 2008
Kashagan firms may delay, face Kazakh sanctions
(Reuters) - Kazakhstan threatened on Monday to slap sanctions on a Western consortium developing the giant Kashagan oilfield in the Caspian Sea should its operators decide to delay the start of production again…
Kazakh ministry: Eni-led group said Kashagan faces more delays (Dow Jones/CNN Money)
Agip KCO intends to further postpone commencement of commercial production at Kashagan till 2012-2013 – Kazakh energy minister
(Interfax) - The foreign partners of Agip KCO suggests that the commercial production at Kashagan field be postponed till 2012-2013, said Kazakh Minister of Energy and Mineral Resources Sauat Mynbaev…
Facts about Kashagan oilfield in Kazakhstan (Reuters)
Iran offers ocean to oil giant Kazakhstan
(Middle East Times) - Up to now, Kazakhstan, fearing to anger the United States, has made limited use of Neka, which last year received about 70, 000-80,000 bpd. But Iranian-Kazakh trade is steadily rising, in 2006 exceeding $2 billion, up from $700 million in 2004. Iran’s Caspian port of Amirabad also receives Kazakh oil imports…
Analysis: Turks eye carrying Kazakh oil
(UPI) - Kazakhstan, while currently relying on the international joint venture Caspian Pipeline Corp. pipeline to Russia’s Novorossiysk port on the Black Sea, nevertheless has plans to diversify its export routes to international markets and in this desire has no more ardent suitor than energy-poor Turkey, angling to position itself as the Caspian’s premier energy hub…
Regional News Roundup - May 13, 2008
IMF forecasts bright economic outlook for Middle East and Central Asia for 2008
(RTT News/NASDAQ) - The outlook for the Middle East and Central Asia continues to look favorable in 2008 notwithstanding the economic downturn in the rest of the world. With commodity prices including oil expected to remain high, surging investments coupled with strong productivity gains are expected to sustain growth above the 6 percent level in the regions…
Society Roundup - May 13, 2008
Astana to host 2nd Eurasian Women’s Summit (Kazinform)
Kazakh Diaspora in Kyrgyzstan to participate in cultural and ethnographic festival in Turkestan (Kazinform)
Politics Roundup - May 13, 2008
Culture and Information Minister and Kyzylorda akim changed
(Interfax) - Boltabek Kuandykov has appointed new Kyzylorda akim. Kuandykov, 47, replaced Mukhtar Kul-Mukhamed, who was in the office since January 2007…
Tajikistan backs initiatives of Kazakhstan aimed at regional integration - Rakhmon (Kazakhstan Today/Gazeta.kz)
Relations with Kazakhstan of paramount importance for Tajikistan: E. Rakhmon (Kazinform)
A number of documents between Kazakhstan, Tajikistan signed (Kazinform)
President of Kazakhstan noted high level of political partnership with Tajikistan (Kazakhstan Today/Gazeta.kz)
Indonesian FM to make first visit to Kazakhstan (Kazinform)
President of Kazakhstan was presented a number of investment projects in Kyzyolrdinskaya oblast (Kazakhstan Today/Gazeta.kz)
Mineral Resources Roundup - May 13, 2008
Kazakhmys: ENRC had been considering ‘low ball’ informal approach for weeks, may walk away
(Financial Times/dealReporter) - A source familiar with ENRC’s thinking said he thought it was now likely to walk away. It would look strange if the company was able to make an increased firm offer within a week, the source said. ENRC held a board meeting this week at which numerous possible M&A transactions and capital expenditure projects were discussed. A follow-up board meeting will be held in the first half of next week, said the source…
Low ENRC bid for Kazakhmys was tactic - analysts
(Reuters) - Mining group ENRC’s takeover bid last week for Kazakh rival Kazakhmys, below the market value of the firm and certain to be rejected, was a bargaining tactic, analysts said…
Hambledon mining exports first gold from Sekisovskoye plant
(Bloomberg) - Hambledon Mining Plc, a producer of precious metals in Kazakhstan, exported gold for the first time from its Sekisovskoye processing plant…
