news roundup

Kazakhstan News Roundup - July 9, 2008

By SRI ⋅ July 9, 2008 ⋅  Email This Post ⋅  Print This Post ⋅ Post a comment

energy:

Production expected to increase at North Buzachi oil field
(SRI) - Oil production at the North Buzachi field is expected to increase by a quarter to 2 million tons this year, Interfax reported on Tueasday citing a source at Lukoil Overseas.

Fitch release on KazMunaiGaz Finance Sub B.V. notes
(Reuters) - Fitch Ratings has today assigned KazMunaiGaz Finance Sub B.V.’s USD1.4bn notes due 2013 with a coupon of 8.375% and USD1.6bn notes due 2018 with a coupon of 9.125% final ‘BBB’ ratings.

Caspian buys 50 pct in Black Gold of Kentucky; places shares to part-fund deal (Hemscott - Thomson Financial)

mineral resources:

BAK introduces new general director
(SRI) - Bogatyr Access Komir (BAK), the largest coal mining group in Kazakhstan, introduced Viktor Shukin as the new general director.

Mineral Extraction Tax to range 4-20 percent depending on annual output (Interfax)

business and economy:

National Media Holding created
(Kazakhstan Today) - JSC National Information Holding Arna Media has been created by the governmental decree of the Republic of Kazakhstan, the agency reports referring to prime minister’s press service.

Uzbekistan reduces water supply to South Kazakhstan (Interfax - redOrbit)

Kazakhstan, USA to strengthen cooperation in sphere of ecology (Kazakhstan Today)

National Bank of Kazakhstan: Exchange rates July 9, 2008 (Kazinform)

Indicators - July 8, 2008 (Reuters)

politics:

Kazakhstan and Georgian president met in Astana (Interfax)

Tashkent hosts talks of Kazakh, Uzbek Vice PMs (Kazinform)

society:

Kazakhstan reform still violates human rights
(EnerPub) - A draft law in the Kazakhstan parliament, an intention at reform, still contains onerous provisions that discriminates against minority religions.

regional news:

Price for Central Asian Gas to double
(The Moscow Times) - From next year, Gazprom will buy its gas from Central Asia at double today’s rates, following the trend of high prices in Europe.

comment:

The west needs the Caspian
(Guardian) - Only the Caspian countries can loosen Russia’s grip on Europe’s energy supplies. No wonder the Kremlin is worried.

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