Kazakhstan News Roundup - September 2, 2008

news roundup

Kazakhstan News Roundup - September 2, 2008

By SRI ⋅ September 2, 2008 ⋅

ENERGY:

Zhaikmunai income up in first half of 2008
(SRI) - Kazakh LSE-listed oil producer Zhaikmunai said on Friday its net income rose 22 percent year-on-year in the first half of 2008 to $17.6 million, thanks to higher oil price and growing output.

Kazakhstan may join the final stage of Odessa-Brody pipeline project
(SRI) - Kazakhstan may commit to participating in the Odessa - Bordy oil pipeline to Plotsk provided Ukraine produces a feasibility study for the project.

Kazakh oil and gas worries
(New Europe) - The Caucasian corridor that Kazakhstan considered until recently, as an alternative transport route may prove the most unreliable.

Agip KCO insists its Declaration of Intent for Kashagan development is robust (Interfax)

Imperial Energy H1 oil sales increase
(Energy Business Review) - UK-based Imperial Energy, which has assets in Russia and Kazakhstan, has reported that its oil sales increased for the first half of 2008 by 1,494% to $67.5 million, compared to $4.2 million in the first half of 2007.

Gazprom Neft hopes to get reply on purchase of MMG stake from Astanathis week
(Interfax) - Gazprom Neft President Alexander Dyukov is planning to meet with Kazakh Prime Minister Karim Masimov this week and hopes to receive Astana’s reply to the Russian company’s proposal on the acquisition of a stake in oil producer MangistauMunaiGas (MMG).

Gazprom Neft looks to send crude to China via Kazakhstan (RIA Novosti)

Kazakhstan expanded and extended the ban for oil products export up to January 1 (Azerbaijan Business Center)

Atyrau to pipe 21 mln tons of oil per year (Kazinform)

Energy minister visiting Caspian energy producers (Today’s Zaman)

Turan Petroleum, Inc. exploration and operations
(PR Web) - Turan Petroleum, Inc., an independent oil and gas exploration company today reported that the exploration period of its contract in Kazakhstan was extended by the Ministry of Energy and Mineral Resources for two additional years.

Caspian says Kazakh ministry cancels Zhengheldy contract (Thomson Financial - Hemscott)

Petrolinvest’s EGM to rule on Sep 30 on SPO to take over shares in Caspian Services (Bankier)

United Energy Group extends US$76 net per share cash tender offer for preferred stock of Transmeridian Exploration (PR Newswire)

Kazakh pundit says new oil processing facility to “kill” Caspian
(BBC Monitoring - redOrbit) - “Millions of tonnes of poisons will pour on our heads,” this is what academician Muftakh Diyarov sharply said about the volumes of pollutant emissions from a new oil processing facility during a public consultation in Atyrau region.

BUSINESS AND ECONOMY:

Halyk borrows $300 million
(SRI) - Kazakhstan’s third largest bank, Halyk, has signed a $300 million, one-year syndicated term loan, which was increased from $200 million after an oversubscription.

VTB to open subsidiary in Kazakhstan
(SRI) - Vneshtorgbank (VTB), Russia’s second largest bank, has received permission from the Kazakh financial regulator to establish operations in the country.

Egypt agrees to buy 1 mln tonnes Kazakh wheat (Reuters)

Kazakh president and Egyptian trade minister discuss cooperation (Interfax)

Kazakhstan Kagazy announces results of its annual shareholder meeting (Business Wire - Market Watch)

Ahmadinejad calls for expansion of economic relations with Kazakhstan
(Tehran Times) - Ahmadinejad noted that the expansion of Tehran-Astana trade ties could help efforts to enhance the region’s political stability.

Kazakhstan and Iran, sittin’ in a tree… but, you know, they’re just friends (Registan)

Khorgos and Amanat Invest Group signed a memo (Kazinform)

National Bank of Kazakhstan: Exchange rates August 30, 31 and September 1, 2, 2008 (Kazinform)

Indicators - August 29, 2008 (Reuters)

POLITICS:

Kazakhstan considers Russia strategic partner – military chief
(Itar-Tass) - Kazakhstan sees in Russia a strategic ally and partner, the chief of Russian-Kazakh tactical exercise, Mayor General Nikolai Kuatov said at the manouvers’ launch on Monday.

Russian-Kazakh war games start in Urals (RIA Novosti)

REGIONAL:

Central Asia watches warily
(IHT) - Central Asian leaders are worried that they might eventually find themselves having to choose sides between Russia and the West - a choice all of them have tried hard to avoid.

Bulgaria pushes Nabucco pipeline
(BusinessWeek) - The Russia-Georgia conflict adds new impetus to an alternative route for Caspian gas that connects Turkey to Austria via Bulgaria.

China, Turkmenistan agree to boost planned gas sales
(Reuters) - Turkmenistan will sell 40 billion cubic metres (bcm) of natural gas a year to China through a planned pipeline instead of the previously agreed 30 bcm.

Central Asian leaders balk at opening Pandora’s box of separatism
(RFE/RL) - The summit’s final resolution lauded “Russia’s efforts to normalize the situation in South Caucasus,” but was notably silent on the independence of Abkhazia and South Ossetia.

In the eye of the storm
(Transitions Online) - The Caucasus region was once seen as a transit hub for Caspian and Central Asian fuel supplies. That may change.