Kazakhstan News Roundup - June 27, 2008

news roundup

Kazakhstan News Roundup - June 27, 2008

By SRI ⋅ June 27, 2008 ⋅

energy:

Kazakh superfield delayed yet again
(UPI) - Of the 15 former Soviet republics, Kazakhstan is sitting on the sole “superfield” discovered in the last three decades. With proven reserves of 35 billion barrels, Kazakhstan potentially contains the world’s third largest reserves of oil, after Saudi Arabia and Iraq.

Kazakhstan hits PetroKazakhstan with $470 million excess profit tax
(Silk Road Intelligencer) - Kazakhstan’s Tax Committee announced that PetroKazakhstan, a joint venture between Chinese CNPC and Kazakh KazMunaiGas, will have to pay 56.3 billion tenge ($470 million) in excess profit back tax.

Lukoil to acquire Turgai stake from CNPC
(Neftegaz.RU) - Russia’s largest independent oil producer OAO Lukoil won’t face Kazakh government opposition to a deal to buy full control of Turgai Petroleum and hopes to close a deal by the end of the year.

Kazakh KMG E&P sees flat output, more buys in ‘09
(Reuters) - Kazakh oil producer KazMunaiGas Exploration and Production (KMG E&P) said on Thursday it wanted to buy a 50 percent stake in a firm owned by Russia’s LUKOIL and a unit of China’s CNPC.

Arawak Energy to list in London on July 1
(Silk Road Intelligencer) - Arawak Energy Ltd., a Toronto-listed oil company with operations in Kazakhstan, Russia and Azerbaijan, said it was planning to float on the Main Market of the London Stock Exchange on July 1.

KazMunaiGas floats five- and ten-year notes
(Silk Road Intelligencer) - Kazakhstan national oil and gas company KazMunaiGas floated five- and ten-year notes on Wednesday worth $3 billion, Interfax-Kazakhstan reported citing Bloomberg.

Imperial strikes it rich with production of oil
(redOrbit) - Oil company Imperial Energy announced that drilling is ahead of schedule and it is on track to deliver 25,000 barrels of oil per day by the end of this year.

mineral resources:

Kazakhmys commissions sulphuric acid plant in Kazakhstan
(Thomson Financial - Forbes) - Kazakhmys Plc. said it has started production at its new sulphuric acid plant at the Balkhash complex in Kazakhstan, adding it sees full production by the fourth quarter.

Kazakhmys: Production started at plant at Balkhash complex (Dow Jones - Morningstar)

business and economy:

National Bank lowered minimal reserve requirements by 1% starting from July 29
(Interfax) - “In order to regulate short-term liquidity of second-tier banks National Bank has changed minimal reserve requirements: instead of 6% for domestic liabilities and 8% for other liabilities, new rates of 5% and 7% respectively have been imposed,” National Bank said in a press release.

Construction of Finance Center in Almaty nearly completed
(CaspioNet) - A Finance Centre in Almaty is at the final stage of the first phase of construction, with 4 office buildings designed by top architects from New York to open their doors in the autumn of this year.

Temirbank repaid $130 ml loan to Standard Bank
(Silk Road Intelligencer) - Temirbank, the 7th largest Kazakh bank, has repaid Standard Bank loan of $130 million, Kazakhstan Stock Exchange (KASE) reported.

National Bank boost capital of Deposit Insurance Fund
(Silk Road Intelligencer) - The National Bank contributed 14 billion tenge ($120 million) to increase the registered capital of Deposit Insurance Fund, Interfax-Kazakhstan reported.

Edmond Shipway score £225m Kazakhstan scheme (QS Week)

China is ready to import grain and flour from Kazakhstan (AgriMarket.info)

Air Astana revises services at Astana International Airport (easier travel)

Kazakhstan invites American companies to develop its transit potential (Kazinform)

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

Indicators - June 26, 2008
(Reuters) - Kazakhstan’s economic indicators based on data provided by the State Statistics Agency, government institutions, the central bank and exchanges.

politics:

U.S. envoy to OSCE says Kazakhstan lagging in reforms
(RFE/RL) - The deputy chief of the U.S. mission to the Organization for Security and Cooperation in Europe (OSCE), Kyle Scott, has told RFE/RL’s Kazakh Service after his arrival in Kazakhstan that there are lingering concerns over that country’s implementation of democratic reforms.

OSCE Chairman to visit Kyrgyzstan and Kazakhstan (TREND)

Luxembourg Premier considers Kazakhstan a strategic partner (Kazinform)

society:

Kazakh leader creates national holiday on his birthday
(AP - IHT) - azakhstan’s president has approved a bill to create a new holiday on his birthday to honor the nation’s capital, Astana, local media reported Thursday.

Borat defeated? Kazakh women declare victory in battle of the sexes (Telegraph)

Traffic police head claims monthly salary over $1,000 will keep officers on job (Interfax)

regional news:

EU strategy in Central Asia: One year later
(Eurasia Daily Monitor) - A year after the German EU presidency introduced the Strategy for Central Asia from 2007 to 2013, the European Commission (EC) published a draft of its progress report.

Tankers, pipelines and the Turkish straits
(Eurasia Daily Monitor) - Since 1991 Turkey has watched with growing alarm as the tanker traffic in the Istanbul Bogazi (Bosporus) and Canakkale Bogazi (Dardanelles), known collectively as the Turkish Straits (Turk Bogazlari), has increased, year after year.