News Roundup

News Roundup - May 27, 2008

By SRI ⋅ May 27, 2008 ⋅

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energy:

Kazakhstan open for U.S. investment in oil, gas sector - PM

(Interfax) - At a meeting with U.S. congressmen on Monday, Masimov stressed that the Kazakh government would guarantee the stability of existing contracts and the country is open to further investment.

Russia has own ideas about CPC pipeline income

Kommersant has learned the nature of the objections of CPC stockholders to the current edition of the MoU on the pipeline’s expansion from 32 million to 67 million tons of oil, which has been signed by the appropriate ministries in Russia and Kazakhstan. They concern the calculation of the interest on the consortium’s debt to investors.

S&P revised B plus rating prospect granted to Rompetrol, a KazMunaiGas subsidiary, from positive to stabile (Nine O’Clock)

Cigma Metals Corporation exploration update for the work completed to date on the Dostyk project in Northeastern Kazakhstan (Yahoo! Finance)

Sulphur price soars on fertiliser demand (Times Online)

mineral resources:

Central Asia Resources reports drill results from Altyntas project (Yahoo! Finance)

business and economy:

Kazakh economy feels pinch of credit crunch

(Reuters) - Kazakh businesses must cut costs and become more focused if they are to benefit from government measures and ride out a credit crunch that has spilled over from banking and construction into the wider economy.

Kazakhstan’s changing attitude to foreign investment

(The Globe and Mail) - Kazakhstan has attracted a significant amount of foreign direct investment, totalling $43.5-billion (U.S.) by end-2007 – equivalent to some 42 per cent of GDP. The extractive industries and associated services account for around three-quarters of total FDI stock.

By 2012 Kazakhstan plans to increase annual grain production to 26 mln tonnes (AgriMarket.info)

RFCA chief joins FSA board (Interfax)

Kazakhs invest into Bulgarian economy (Kazinform)

National Bank of Kazakhstan: Exchange rates May 27, 2008 (Kazinform)

Indicators - May 27, 2008

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

politics:

Bilateral cooperation topped agenda of U.S.-Kazakh talks

(Interfax) - Kazakhstan State Secretary Kanat Saudabaev met with U.S. Congress delegation led by Nick Rahall, chairman of the House Natural Resources Committee, in Astana on Monday.

Kazakh President receives US Congress delegation (Kazinform)

Interaction on intergovernmental level promotes open coop development between Kazakhstan and US: K.Tokayev (Kazinform)

Kazakhstan to buy Russian surface-to-air missile systems

(Asia Pulse/Yahoo! News) - Kazakhstan has a short-term plan to buy surface-to-air missile systems from Russia, the Kazakh defense minister said, calling Russian air defense weapons the best in the world.

UK looks forward to working with Kazakhstan: Ambassador Brummell

(Kazinfrom) - Paul Brummell shares his view upon the British-Kazakhstani bilateral relations with a Kazinform correspondent.

Kazakh Vice FM to pay working visit to US (Kazinform)

OSCE “Quintet” Foreign Ministers to meet in Helsinki (Kazinform)

regional news:

Shell soon to join Samsun-Ceyhan pipeline

(Reuters) - Royal Dutch Shell Plc is near signing a deal with Turkish Calik Energy and Italian Eni to join work on a oil pipeline between the Black and Mediterranean seas, sources close to the deal said on Monday.

EU signs energy investment MoU with Turkmenistan

(Reuters) - The European Union and Turkmenistan signed a deal on Monday to encourage increased EU investment in Turkmen oil, gas and renewable energy.