news roundup
News Roundup - May 15, 2008
energy:
KazMunaiGas E&P Q1 profit soars on high oil prices
(Reuters) - London-listed Kazakh oil producer KazMunaiGas Exploration and Production (KMG E&P) reported a 166 percent jump in first-quarter net income on Wednesday on the back of acquisitions…
Japan Inpex to up investment in Kashagan oilfield
(Reuters) - Inpex Holdings Inc, Japanese biggest oil and gas explorer, plans to increase investments in Kazakhstan’s Kashagan oil field in the Caspian Sea by 25 percent or more in the business year that started in April…
Putin invites Kazakhstan to join in BPS-2 project
(Itar-Tass) - Prime Minister Vladimir Putin invited Kazakhstan to take part in the construction of the BPS-2 (Baltic Pipeline System)…
(The Oil and the Glory) - We now have a better understanding of why the consortium developing the biggest new oilfield on the planet has expeled its boss, Italy’s Eni — yet another two-year delay has been announced in first oil from the offshore Kazakhstan field…
Kazakhstan, Lithuania team up on energy (UPI)
Fox Petroleum announces expansion of board of directors (OilVoice)
mineral resources:
ENRC announces ‘very significant increase’ in Q1 revenue
(Thomson Financial/Forbes) - Eurasian Natural Resources Corp. Plc., one of the world’s largest producers of ferrochrome, announced a ‘very significant increase’ in first-quarter revenue on higher commodity prices, particularly in the ferroalloys and iron ore divisions…
Kazakh govt, metals majors in talks over export duty
(Reuters) - Kazakhstan’s government and the country’s mining and metals firms are in talks over a proposed metals export duty, the head of an industry association told Reuters on Wednesday…
Ivanhoe Mines announces financial results and review of operations for the first quarter of 2008 (marketwire/Yahoo! Finance)
business and economics:
Kazakhstan remains upbeat despite negative credit ratings
(EurasiaNet) - Standard & Poor’s credit rating for Kazakhstan has been downgraded from stable to negative, but economic chiefs in Astana remain resolutely upbeat despite rising inflation, stalled construction projects and a shaky global outlook…
AES considers fighting $148 mln Kazakhstan fine
U.S. power producer AES could turn to an international arbitration court to challenge a $148 million fine slapped on it by a Kazakh court for suspected antitrust violations, the company said on Wednesday…
Kazakh banks’ post-crisis potential
(Silk Road Intelligencer) - 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…
KEPCO, Samsung in $4.5 bln Kazakhstan power project (Reuters)
EBRD boosts Kazakh beverage producer JSC RG Brands (Flex News)
National Bank forecasts no currency fluctuations by mid-year
(Interfax) - National Bank chairman Anvar Saidenov does not foresee dramatic fluctuations on Kazakhstan’s currency market…
5th Kazakhstan’s int’l healthcare exhibition KIHE-2008 opened in Almaty (Kazinform)
Kazakhstan and South Korea are intended to increase mutual trade volumes (Kazakhstan Today/Gazeta.kz)
Astana hosts Kazakh-Korean business forum (Kazinform)
“Astana-Finance” JSC, Korea Resources Corporation signed memo of understanding (Kazinfrom)
National Bank of Kazakhstan: Exchange rates May 15, 2008 (Interfax)
(Reuters) - Kazakhstan’s economic indicators based on data provided by the State Statistics Agency, government institutions, the central bank and exchanges…
politics:
Kazakh leader’s daughter monitored U.S. bribe case
The daughter of Kazakhstan’s president used well-connected Washington private security consultants to gather information on a U.S. bribery probe involving her father that has stymied the nation’s access to $84 million in disputed funds…
Kazakh president, South Korean premier agreed to expand bilateral cooperation
(Interfax) - President of Kazakhstan Nursultan Nazarbaev and South Korean Prime Minister Han Seung Soo have agreed to expand bilateral cooperation…
The next “New Thing” from Rakhat?
(Roberts Report) - Dariga Nazarbayeva had hired a US firm called GlobalOptions in 2003 to gather intelligence on the progress of the “Kazakhgate” trial of James Giffen. Furthermore, the documents gathered by Global Options now are allegedly in the possession of Rakhat Aliyev…
Kazakh, Tajik presidents show oil and water do mix
(Radio Free Europe/Radio Liberty) - In return for closer ties with Kazakhstan, visiting Tajik President Imomali Rahmon has hinted at support for a Kazakh plan to form a Central Asian Union — an idea also backed by Kyrgyzstan but soundly rejected by Astana’s main regional rival, Uzbekistan, and unlikely to please Russia…
Nazarbayev backs creation of Kazakhstan People’s Assembly youth wing (Kazinform)
Israel’s lawmaking of great interest for Kazakhstan: Tokayev (Kazinform)
Kazakhstan interested in coop with Lithuania in transport and agriculture (Kazinform)
Lithuania, Kazakhstan to sign military cooperation agreement (Itar-Tass)
Kazakh Leader expected in Lithuania (Kazinform)
Kazakh leader, Abu Dhabi Crown Prince met (Kazinform)
Kazakh, Indonesian FMs agreed to create intergovernmental commission (Kazinform)
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