Archive for June 4th, 2008
Caspian oil pipeline reports first ever profit
The Caspian Pipeline Consortium (CPC), pumping oil from Kazakhstan to Russia’s Black Sea coast, reported on Tuesday it had recorded its first ever net profit in 2007 of $423 million after raising shipping fees.
The consortium, which has U.S. oil major Chevron as the top private shareholder, did not give comparative figures.
Tengizchevroil, Karachaganak Petroleum see tax looming
Following record-breaking world oil prices, the Kazakh authorities are trying to balance the economic interests of the state by cancelling the existing privileges for energy majors pumping oil in the Central Asian republic.
News Roundup - June 4, 2008
energy:
Kazakhstan wants parliament to ratify oil deals
(Reuters) - Oil and mining companies operating in Kazakhstan will have to obtain special permission from parliament if they want to avoid paying new taxes and export duties next year, Prime Minister Karim Masimov said on Tuesday.
Caspian oil pipeline reports first ever profit
(Reuters) - The Caspian Pipeline Consortium (CTC), pumping oil from Kazakhstan to Russia’s Black Sea coast, reported on Tuesday it had recorded its first ever net profit in 2007 of $423 million after raising shipping fees.
Kazakhstan ups oil production 5.7%, gas 12% in 5 months
(Interfax) - Kazakhstan increased oil and gas condensate production 5.7% year-on-year in the first five months of 2008 to 29.65 million tonnes. Condensate production fell, by 6.9% to 2.714 million tonnes.
Kazakh nuclear company seeks $3 bln Japan insurance
(Reuters) - Kazakh uranium company Kazatomprom is seeking a $3 billion credit insurance facility from a Japanese company to fund development, Kazatomprom CEO Mukhtar Dzhakishev said on Tuesday.
BMB Munai: Cheapest oil producer in Kazakhstan
(Seeking Alpha) - I currently own shares in a number of Kazak and Russian oil and gas producers and I have recently increased my position in BMB Munai, which I think by most metrics is the cheapest oil producer in Kazakhstan.
Kazakh energy company not to suffer from ban on oil exports
(BBC Monitoring Central Asia/redOrbit) - Imposing a ban on the export of oil products will not affect the profitability of KazMunaiGas, the chairman of the board of Samruk Holding, Kanat Bozumbayev, said today during a meeting with members of the parliament’s Senate.
Kazakh Premier instructs to nationalize oil company
(BBC Monitoring Central Asia/redOrbit) - At a government conference call held on 2 June, Kazakh Prime Minister Karim Masimov asked the heads of the Ministry of Energy and Mineral Resources, Samruk Holding and KazMunaiGas to buy Mangystaumunaigas’ controlling package of shares for state ownership in the shortest period of time.
Karachaganak Petroleum cleared to continue exports on CPC
(Interfax/redOrbit) - Karachaganak Petroleum Operating (KPO) has received permission from customs officials in Atyrau region to export oil on the Caspian Pipeline Consortium (CPC) pipeline.
Cameco and Kazatomprom progress toward conversion plant (marketwire/CNN Money)
mineral resources:
Rescue teams consider the miners trapped underground dead
(Interfax) - The miners trapped at the Tentek mine have a very bleak hope for survival and most likely have been already dead.
One down, one up in Kazakh share shuffle
(Guardian) - Mining group Eurasian Natural Resources Corporation was the leading faller in the FTSE 100 index yesterday on growing speculation that rival Kazakhmys was about to dump its 14.6% shareholding.
Kazakhmys says no quick decision to be made on 14.6 percent stake in ENRC
(Thomson Financial/Forbes) - The comments were in response to market speculation that Kazakhmys, the largest copper producer in Kazakhstan, may sell its stake in ENRC when a lock-up period expires on June 6.
business and economy:
Russia’s BVCP plans to invest in Kazakh retailer
(Reuters) - Russian private equity firm Baring Vostok Capital Partners (BVCP) plans to make its second investment in Kazakhstan this year, BVCP partner Mikhail Lomtadze said on Tuesday.
Kazakh Halyk Bank Q1 net income dips 9.3 pct
(Reuters) - Kazakhstan’s No.3 bank Halyk said on Tuesday its first-quarter net income fell to 9.8 billion tenge ($81 million) from 10.8 billion in the same period of 2007.
Kazakhstan ratifies Eurasec customs union agreement
(RIA Novosti) - The Kazakh parliament has ratified an agreement on establishing a customs union within the framework of the Eurasian Economic Community (Eurasec), a spokesman for the upper house of parliament said on Tuesday.
(Reuters) - Kazakhstan’s economic indicators based on data provided by the State Statistics Agency, government institutions, the central bank and exchanges.
politics:
Nazarbayev will participate in unofficial meeting of the heads of the CIS states
(Kazakhstan Today/Gazeta.kz) - President of Kazakhstan Nursultan Nazarbayev will take part in unofficial meeting of the heads of the CIS states, which will take part on June 6 in saint Petersburg.
Kazakh parliament approves budget deficit increase
(Interfax) - The upper house of Kazakhstan’s parliament Tuesday approved amendments to the 2008 central budget that raise the deficit to 2.1% of GDP from 1.4%.
Prime Minister seeks speeding up adoption of law on fighting money laundering (Interfax)
Kazakhstan to join Central Asian Convention on environmental protection (Kazinform)
society:
Trail-blazing Kazakh orchestra dreams of Carnegie Hall
(International Herald Tribune) - Perhaps appropriately, said two students at the music conservatory in this Central Asian commercial capital, the turning point for their national youth symphony came with a performance of Stravinsky’s “The Rite of Spring,” an explosive and sometimes violent interpretation of a pagan ritual sacrifice.
Kazakhstan: police terrorize Christians at worship
(Spero News) - Police in Kazakhstan burst into the New Life church during services, filming the 60 worshipers present. A new law is being applied that requires authorization for ministers to visit other cities.
regional news:
Russia, China vie with Europe for Central Asia
(theTrumpet.com) - Despite what familial disputes Russia and China may be having, they are united in their efforts to stop Europe from getting control of Central Asia.
Central Asia: Locust invasion worsens region’s food woes
(RFE/RL) - Swarms of Moroccan locusts have returned to Central Asia, flying north from Afghanistan into Kazakhstan and leaving barren fields in their wake.
Regional News Roundup - June 4, 2008
Russia, China vie with Europe for Central Asia
(theTrumpet.com) - Despite what familial disputes Russia and China may be having, they are united in their efforts to stop Europe from getting control of Central Asia.
Central Asia: Locust invasion worsens region’s food woes
(RFE/RL) - Swarms of Moroccan locusts have returned to Central Asia, flying north from Afghanistan into Kazakhstan and leaving barren fields in their wake.
Society Roundup - June 4, 2008
Trail-blazing Kazakh orchestra dreams of Carnegie Hall
(International Herald Tribune) - Perhaps appropriately, said two students at the music conservatory in this Central Asian commercial capital, the turning point for their national youth symphony came with a performance of Stravinsky’s “The Rite of Spring,” an explosive and sometimes violent interpretation of a pagan ritual sacrifice.
Kazakhstan: police terrorize Christians at worship
(Spero News) - Police in Kazakhstan burst into the New Life church during services, filming the 60 worshipers present. A new law is being applied that requires authorization for ministers to visit other cities.
Politics Roundup - June 4, 2008
Nazarbayev will participate in unofficial meeting of the heads of the CIS states
(Kazakhstan Today/Gazeta.kz) - President of Kazakhstan Nursultan Nazarbayev will take part in unofficial meeting of the heads of the CIS states, which will take part on June 6 in saint Petersburg.
Kazakh parliament approves budget deficit increase
(Interfax) - The upper house of Kazakhstan’s parliament Tuesday approved amendments to the 2008 central budget that raise the deficit to 2.1% of GDP from 1.4%.
Prime Minister seeks speeding up adoption of law on fighting money laundering (Interfax)
Kazakhstan to join Central Asian Convention on environmental protection (Kazinform)
Business and Economy Roundup - June 4, 2008
Russia’s BVCP plans to invest in Kazakh retailer
(Reuters) - Russian private equity firm Baring Vostok Capital Partners (BVCP) plans to make its second investment in Kazakhstan this year, BVCP partner Mikhail Lomtadze said on Tuesday.
Kazakh Halyk Bank Q1 net income dips 9.3 pct
(Reuters) - Kazakhstan’s No.3 bank Halyk said on Tuesday its first-quarter net income fell to 9.8 billion tenge ($81 million) from 10.8 billion in the same period of 2007.
Kazakhstan ratifies Eurasec customs union agreement
(RIA Novosti) - The Kazakh parliament has ratified an agreement on establishing a customs union within the framework of the Eurasian Economic Community (Eurasec), a spokesman for the upper house of parliament said on Tuesday.
Indicators - May 3, 2008
(Reuters) - Kazakhstan’s economic indicators based on data provided by the State Statistics Agency, government institutions, the central bank and exchanges.
Mineral Resources Roundup - May 4, 2008
One down, one up in Kazakh share shuffle
(Guardian) - Mining group Eurasian Natural Resources Corporation was the leading faller in the FTSE 100 index yesterday on growing speculation that rival Kazakhmys was about to dump its 14.6% shareholding.
Kazakhmys says no quick decision to be made on 14.6 percent stake in ENRC
(Thomson Financial/Forbes) - The comments were in response to market speculation that Kazakhmys, the largest copper producer in Kazakhstan, may sell its stake in ENRC when a lock-up period expires on June 6.
Alhambra increases proven and probable reserves by 16% at its 100% owned Uzboy heap leach mine (Canada Newswire/Trading Markets)
