news roundup
Kazakhstan News Roundup - September 8, 2008
ENERGY:
Kazakhstan boosts oil production forecast
(SRI) - Energy officials in Astana are expecting to transport as much as 392 million barrels of oil per year through the Baku-Tbilisi-Ceyhan pipeline.
RWE to examine coal gasification in Kazakhstan
(Oil and Gas Journal) - RWE AG and Samruk, Kazakhstan’s state assets management holding company, will look at coal gasification and synthetic gas usage in northern and eastern Kazakhstan to unlock new energy sources in the country.
Third listing primed as exchanges woo Kazakhstan oil producer
(The Independent) - KazMunayGas Exploration Production (KMG EP), the London and Kazakh-listed oil company, is mulling a flotation on a third stock exchange.
Shut up, Borat - the tinderbox of Kazakhstan oil
(The Independent) - The gleaming towers of the capital city are monuments to black gold, but the Eurasian state is stuck in the middle between Western demand and keeping its Russian and Georgian neighbours sweet.
Paper looks at Kazakh plans to increase electricity generation in country
(BBC Monitoring - redOrbit) - Kazakhstan’s electricity production is increasing but consumption is also rapidly growing. As a result, there are rolling blackouts in the south of the country and Kazakh people are being constantly urged to save electricity and heat.
Oil and gas deposit discovered in Kazakh West - local TV
(BBC Monitoring - redOrbit) - A large oil and gas deposit has been found near the village of Petrov in Zelenov District of West Kazakhstan Region.
Kazakhstan ups oil and gas production (SRI)
New Tax Code has oil tax rates ranging from 7 to 20 percent (Interfax)
All Kashagan problems solved: Kazakh PM (Kazinform)
Russia eyeing Oman’s stake in CPC (RBC News)
Kazakhstan to start construction of West-South gas pipeline in 2009 first half (Kazinform)
Kazakhstan joins WPC (Kazinform)
MINERAL RESOURCES:
New Tax Code sets 8 percent cooper tax and 15 percent uranium tax (Interfax)
BUSINESS AND ECONOMY:
Middle and Far East investors target Kazakhstan
(bne) - Picture Astana’s right bank in 2012. Alongside the Baiterek tower and the blue-domed presidential palace, there will be a new landmark: the Abu Dhabi Palace. This huge complex was inspired by Kazakhstan’s economic growth, designed by renowned British architect Norman Foster, and funded from the United Arab Emirates.
Kazakh cement manufacturer Steppe Cement lifts profits, fears tough conditions (ShareCast)
Russia to get tax privileges if investing to KZ non-primary sector: Premier (Kazinform)
Kazakh-Russian trade turnover to exceed $20 bln in 2008: PM (Kazinform)
Kazakhstan: Fears of aggravation of crisis
(Global Voices) - Although Kazakhstan, enjoying booming economy fueled by extractive industries, remains the leading state among Central Asian republics, the volatile situation in the country’s economy gives grounds for anxiety among bloggers.
Indicators - September 5, 2008 (Reuters)
POLITICS:
Can Nazarbayev help Kyrgyzstan escape Moscow’s pressure
(Eurasia Daily Monitor) - Nazarbayev gave hope to Kyrgyz President Kurmanbek Bakiyev and other Central Asian leaders to maintain a more balanced East-West policy in spite of Russian pressure.
SOCIETY:
Astana: The pleasure domes of a new Xanadu
(Telegraph) - On a visit to Astana, James Mackintosh is seduced by the audacity and extravagance of its modern architecture – and the vibrancy of its expatriate social whirl.
British school caters to children of Kazakh elite (Reuters)
REGIONAL:
Central Asia: Russia and United States intensify energy competition
(EurasiaNet) - A three-sided diplomatic scrum is intensifying in Central Asia, as US, Russian and Chinese officials are stepping up efforts to wring energy-export deals from regional leaders.
Nabucco backers remain composed
(Financial Times) - The backers of the Nabucco pipeline, an ambitious 3,300km scheme to ship gas from central Asia to Europe, remain confident the project is on track, in spite of the conflict between Russia and Georgia.
Cheney expresses US interest in Caspian region
(Oil and Gas Journal) - US Vice-President Dick Cheney met with Azerbaijan’s President Ilham Aliyev and later said that the US has a “deep and abiding interest” in the Caspian region’s stability and security.
Kazakhstan News Roundup - September 5, 2008
ENERGY:
Kashagan to start commercial production in 2014 - Kulibaev
(SRI) - Kazakhstan’s giant Kashagan field in the Caspian Sea is unlikely to start commercial production until 2014, Timur Kulibaev said on Thursday.
Foreign companies to save Kazakh transit
(TREND) - The influential oil companies in Azerbaijan and Kazakhstan will become catalyst in regulation of the issue on unhindered transport of Kazakh oil and oil products via Georgia to world markets.
Expansion of CPC pipeline to be completed by 2012
(SRI) - Expansion of the Caspian Pipeline Consortium (CPC) pipeline capacity is to be completed by 2012, Kazakh Minister of Energy and Mineral Resources Sauat Mynbayev said.
Gazprom Neft, KazMunayGas sign cooperation accord (RBC News)
Batumi oil transshipments down in August (SRI)
KazEnergy 3rd Eurasian Energy Forum convenes in Astana (Regnum)
Kazakhstan plans to produce 100 mln tons of oil by 2015: Minister of Energy (Kazinform)
Forecasted volumes of crude gas production for 2010 and 2015 made public (Kazinform)
Kazakhstan committed to diversification of energy routes - PM (Interfax)
Construction of “Beineu-Bozoi-Akbulak” pipeline to be completed by 2014: S. Mynbayev (Kazinform)
Samruk JSC, German RWE signed memo of understanding (Kazinform)
MINERAL RESOURCES:
Severstal pays $1.6 bln for Kazakhstan, U.S. assets
(RIA Novosti) - Severstal paid $26.6 million for a 100% stake in a Kazakh gold producer.
Alhambra Resources Ltd. - Positive diamond drill results from Uzboy gold deposit (CNW)
BUSINESS AND ECONOMY:
Metro group prepares market entry into Kazakhstan
(Flex News) - METRO Group plans the market entry of its self-service wholesale subsidiary Metro Cash & Carry into Kazakhstan.
Astana Finance mulls private equity funds
(SRI) - Astana Finance is considering the launch of several private equity funds worth up to $1 billion, Interfax reported on Wednesday citing the Deputy Chief Executive officer Alexander Savchuk.
Eurasian Bank plans to increase market share (SRI)
Azia Avto to broaden partnerships (SRI)
Samruk to borrow $400 million (SRI)
RFCA, Hyundai Securities signed memo of coop (Kazinform)
Kazakhstan gold/forex reserves rise to $21.7 bln (Reuters)
Kazakhstan harvested 10 mln tonnes of grain (AgriMarket.Info)
National Bank of Kazakhstan: Exchange rates September 5, 2008 (Kazinform)
Indicators - September 4, 2008 (Reuters)
POLITICS:
Permanent Envoy of Kazakhstan to OSCE appointed (Kazinform)
REGIONAL:
EU’s Piebalgs seeks political push for Nabucco gas
(RFE/RL) - The European Union must reduce its dependence on Russian energy supplies by accelerating the planned Nabucco pipeline to bring gas from central Asia, says the EU’s energy chief.
Caspian leaders to meet over oil-rich sea status in October or November
(RIA Novosti) - The countries have so far failed to agree on how to divide the seabed.
Kazakhstan News Roundup - September 4, 2008
ENERGY:
Kazakhstan drafts new rates for oil tax
(SRI) - According to a draft law, Kazakhstan has proposed to set mineral extraction tax rates for oil producers at 5-18 percent of crude’s market value in 2009, with higher rates applied to larger producers.
Kazatomprom ups uranium output forecast
(Reuters) - Kazakh state nuclear power company Kazatomprom expects to produce 8,800 tonnes of uranium this year, rising to 11,000 tonnes in 2009 and by 2010 it forecasts 15,000 tonnes.
Kazakhstan and Germany to expand energy cooperation - joint statement (Interfax)
Astana to host 3rd Eurasian Energy Forum KazEnergy (Kazinform)
MINERAL RESOURCES:
Kazakh takeover talk lifts miners’ gloom
(Telegraph) - Rumours that rival Kazakh copper group Kazakhmys is planning to launch a formal offer for its local competitor made ENRC one of the few blue-chip risers for most of the trading session.
ENRC aims to remain low-cost ferroalloys producer
(Dow Jones - NASDAQ) - Kazakh mining company Eurasian Natural Resources Corp. PLC’s increased capital-expenditure program will help the company stay a low-cost miner compared to its competitors in the ferroalloys market.
BUSINESS AND ECONOMY:
Air Astana goes green
(Bangkok Post) - Air Astana, the national carrier of Kazakhstan, has joined the green bandwagon by going for fuel efficient aircraft and embracing best management practices, as advocated by the International Air Transport Association (Iata).
Air Astana expands fleet, network (Aircargo)
Kazakhstan: wheat export prices decrease (AgriMarket.Info)
Food Corporation plans to purchase up to 2 mln tons of milling wheat (Kazinform)
National Bank of Kazakhstan: Exchange rates September 4, 2008 (Kazinform)
Indicators - September 3, 2008 (Reuters)
POLITICS:
Swiss embassy to open in Astana (Kazinform)
Kazakhstan to play mediator in Caucasus crisis – Nazarbaev (Interfax)
Kazakh leader content with cooperation with Germany (Interfax)
Nazarbayev: Kazakhstan interested in developing cooperation with European Union (Regnum)
REGIONAL:
Russia and the Shanghai cooperation: Lonely road from Bishkek to Dushanbe
(EurasiaNet) - Up through the August 2007 SCO summit in Bishkek, Putin had good reason to be pleased with the SCO, as the SCO appeared to be a useful mechanism for advancing Moscow’s priorities.
Kazakhstan News Roundup - September 3, 2008
ENERGY:
Caspian Holdings reports “mixed progress” at Zhengeldy oil field restart
(Proactive Investors) - After reporting encouraging steps in completing the regulatory hurdles to move the Zhengeldy oil field in Kazakhstan into production, yesterday Kazakh Ministry of Energy effectively terminated its subsoil use contract.
KMG refinery plans put on hold (SRI)
Ukraine and Kazakhstan discussing on Uzhhorod gas fired power plant (SRI)
Transmeridian Exploration extends consent payment deadline and expiration time for senior secured notes due 2010 (FOX Business)
Alhambra Resources Ltd. - Financial and Operating Results for Second Quarter ending June 30, 2008 (CNW - Yahoo! News)
ONGC enters modern Great Game
(Financial Times) - This time the Great Game is between India and China over Russia’s energy resources, and the £1.4bn ($2.5bn) Imperial deal shows that New Delhi might be gaining the upper hand.
MINERAL RESOURCES:
Kazakhmys disappoints
(Investors Chronicle) - Lower production volumes offset an 18 per cent rise in copper prices, leaving Kazakhmys reporting a fall in first-half profits.
BUSINESS AND ECONOMY:
Centras builds up Kazakh private equity business
(bne) - Almaty-based Centras is about to make the first investment from its buyout fund, through which it plans to benefit from this growing phenomenon.
No threat to Kazakh investments
(Georgian Messenger) - Georgia’s withdrawal from the CIS will not damage Kazakh investments in Georgia. By withdrawing from the CIS Georgia is not planning to revise any bilateral agreements with any CIS countries except Russia.
Kazakhstan lifts wheat export ban (SRI)
August inflation 0.8 percent (SRI)
Turkish Is Bank signs deal to grow in Russia, Kazakhstan (Reuters)
New Tax Code will improve investment climate in Kazakhstan, President Nazarbaev (Interfax)
Kazakh businessmen to meet with reps of South Korean companies (Kazinform)
Kazakhstan: 3-grade wheat purchasing prices decreased (AgriMarket.Info)
National Bank of Kazakhstan: Exchange rates September 3, 2008 (Kazinform)
Indicators - August 2, 2008 (Reuters)
POLITICS:
Kazakhstan urges Russia, West to give up mutual reproaches
(Interfax) - Kazakhstan has urged Russia and the West to stop mutual reproaches and threats, and tackle all problems through talks.
Nazarbayev plays double game on South Ossetia
(Eurasia Daily Monitor) - Caught in an increasing standoff between Russia and the Western powers, Astana has had to resort to maneuvering in order to keep neutrality in the escalating conflict between Tbilisi and Moscow.
President Nazarbaev says Kazakhstan has no early parliamentary elections (Interfax
We have started preparation for OSCE chairmanship: N. Nazarbayev (Kazinform)
Prime Minister met US Assistant to State Secretary for Southern and Central Asia (Kazakhstan Today)
REGIONAL:
Putin clinches deal for Uzbek pipeline
(The Moscow Times) - Prime Minister Vladimir Putin on Tuesday secured agreement from Uzbekistan to start building a new gas pipeline to Russia in a deal that bolsters Moscow’s sway over Central Asian energy supplies.
The commonwealth of weak states
(EurasiaNet) - With the exception of Ukraine and, of course, the Baltic states, none of the republics of the former Soviet Union has vigorously protested Russia’s recent aggression in Georgia and its subsequent recognition of the breakaway regions of South Ossetia and Abkhazia.
Energy a casualty of Georgia conflict
(Platts) - Various strategic conclusions can be drawn from the August conflict in Georgia, each with implications for regional - indeed global - energy security.
Legal status of Caspian Sea to be discussed at summit in Baku (Kazakhstan Today)
Kazakhstan News Roundup - 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.
Kazakhstan News Roundup - August 29, 2008
ENERGY:
Date fixed for first oil from Kashagan field
(TREND) - The target date for first oil extraction from the US$136 billion Kashagan oil field in Kazakhstan has been set at October 2013.
Roxi Petroleum announces funding and operational update (OilVoice)
MINERAL RESOURCES:
Kazakhmys earnings down 21 percent in H1
(Reuters) - Kazakh miner Kazakhmys posted a 21 percent fall in first-half profit on Thursday, hitting its shares, and said it wanted talks with rival ENRC about possible synergies.
Kazakhmys looks for dialogue with ENRC
(Telegraph) - Kazakhmys, the Kazakh copper miner, said it is seeking ways of co-operating with its domestic rival Eurasian Natural Resources, as it bucked the boom in commodity prices to post a fall in first-half profits.
BUSINESS AND ECONOMY:
Astana-Finance Bank to open in September (SRI)
EU postpones anti-dumping duty on ferroalloy imports from Kazakhstan (SRI)
EDB, SCO Interbank Association signed memo of partnership relation (Kazinform)
National Bank of Kazakhstan: Exchange rates August 29, 2008 (Kazinform)
Indicators - August 29, 2008 (Reuters)
POLITICS:
Central Asia and Russia: An old sweet song
(The Economist) - Russia’s Central Asian underbelly rumbles queasily.
Kazakhstan not defined its position concerning recognition of independence of South Ossetia and Abkhazia - MFA (Kazakhstan Today)
Kazakhstan approves of Russia’s actions in Georgia (RBC News)
SCO is a guarantee of security in Eurasia – Kazakh president (Interfax)
Bush among first people Russia informed about Georgia’s attack on Tskhinvali – Nazarbaev (Interfax)
Kazakh, Korean deputies stand for further deepening of inter-parliamentary ties (Kazinform)
REGIONAL:
Ties between Central and South Asia facing hiccups: Expert
(ANI) - Links between Central Asia and South Asia stand a chance of improving only if the historical linkages of the past are given their due importance and applied in the modern context.
Asian alliance rebuffs Russian plea for support
(AP) - China and several Central Asian nations rebuffed Russia’s hopes of international support for its actions in Georgia, issuing a statement Thursday denouncing the use of force and calling for the respect of every country’s territorial integrity.
Kazakhstan News Roundup - August 28, 2008
ENERGY:
Oil firms’ deal with Kazakhs over Kashagan is a temporary reprieve
(bne ) - After more than a year of often-tense negotiations, the Kazakh government is due to finalise an agreement with the consortium developing the enormous Kashagan oilfield in September.
Talks on major Kazakh oilfield end
(BBC Monitoring - redOrbit) - Luciano Vasques, the regional director of the Agip KCO consortium, which is developing Kashagan, told the Kazinform state agency in an interview that the extraction of oil in Kashagan could start before October 2013.
MINERAL RESOURCES:
Kazakhstan to monitor workers’ safety in Mittal plant (Economic Times)
BUSINESS AND ECONOMY:
Kookmin Bank buys 23 percent stake in Bank CenterCredit
(SRI) - Kookmin Bank, Korea’s largest bank, completed its acqusition of a 23 percent stake in Bank CenterCredit.
Avtovaz to buy a stake in Azia Avto
(SRI) - Russian car maker Avtovaz plans to acquire a 25 percent stake in Kazakh Azia Avto.
Efes and Heineken to partner up in Kazakhstan
(SRI) - Efes Breweries International and Heineken N.V. plan to create a joint venture in Kazakhstan to boost production and distribution of beer in the Central Asia country.
Lithuania and Kazakhstan have huge opportunities in energy and transport areas (The Baltic Course)
Kazakh companies’ participation in Iranian cellular communication market discussed in Tehran (Kazinform)
Over 20,000 items of counterfeited products confiscated in Kazakhstan during last month (Interfax)
Kazakhstan - Czech Republic business forum will be held in Almaty (Kazinform)
National Bank of Kazakhstan: Exchange rates August 28, 2008 (Kazinform)
Indicators - August 27, 2008 (Reuters)
POLITICS:
Terrorism, defence shields unacceptable to Kazakhstan, says strategic expert (ANI)
SOCIETY:
Dirty work and desperadoes in Kazakhstan’s wild east (Irish Times)
REGIONAL:
U.S. energy interests and the Caspian: The free ride is over
(World Politics Review) - While control over routes for the export of oil and gas to Western markets was clearly not the primary cause of the recent hostilities between Moscow and Tbilisi, the vital role of the Caucasus as an energy transit route nevertheless cannot be ignored in the context of Russia’s increasingly tense relationship with the United States and its European allies.
Kazakhstan News Roundup - August 27, 2008
ENERGY:
Indian ONGC to buy Imperial Energy for $2.58 billion
(Bloomberg) - Oil & Natural Gas Corp., India’s biggest exploration company, agreed to buy Imperial Energy Plc for 1.4 billion pounds ($2.58 billion) to tap Siberian deposits and make up for dwindling output at home.
Agreed offer for Imperial may spark bidding war (Telegraph)
KazMunaiGas loan to be signed this week
(SRI) - The RBS/ABN Amro and Credit Suisse-lead syndicated loan for KazMunaiGas, the Kazakh national oil company, is expected to be signed this Thursday.
Russia’s power play could shift oil flows (TheStreet.com)
BUSINESS AND ECONOMY:
BTA mulling sale of London-Almaty insurance company
(SRI) - London-Almaty itself did not confirm a pending sale of the company but its chairman Ergali Begimbekov acknowledged that the company has received and is considering several offers.
Air Astana increased traffic flow in H1
(SRI) - Air Astana announced its passenger flow increased by 16 percent in the first half of 2008 as the same period last year and reached 1.3 ml people.
BI Group and Eurasia City in a USD 3 billion Moscow development project
(SRI) - Kazakh construction company Build Investments Group (BI Group) signed an agreement with Russian developer Eurasia-City to build part of the Konstantinovo development project outside Moscow.
Government approves drafts of tax and budget codes, three-year budget (Interfax)
Damu Fund places 50 bl tenge with commercial banks for SME support
(Interfax) - Damu, an entrepreneurship development fund, has placed 50 billion tenge with the commercial banks. The funds were allocated by Kazyna State Fund to support the small- and medium-sized business.
President received Chairman of the Agency for Financial Supervision (Kazinform)
Kazakhstan: 3-grade wheat price rises vary (AgriMarket.info)
National Bank of Kazakhstan: Exchange rates August 27, 2008 (Kazinform)
Indicators - August 26, 2008 (Reuters)
POLITICS:
Russia’s sphere of influence engulfing Kazakhstan
(Trumpet) - Russian tank treads rolling all over Georgia is making another regional country besides Ukraine stand up and take notice: Kazakhstan.
India and Central Asia need to stay engaged, says ex-envoy (Kazinform)
REGIONAL:
Russia recognizes breakaway Georgian regions
(AP) - Russia formally recognized the breakaway Georgian territories at the heart of its war with Georgia on Tuesday, drawing immediate condemnation from the West.
Central Asian summit may discuss South Ossetia - China (Reuters)
BTC pipeline resumes operations
(Oil and Gas Journal) - Some 1.7 million bbl of Azeri crude were loaded aboard two tankers at Turkey’s Mediterranean port of Ceyhan, the first transfer since the closure of the Baku-Tblisi-Ceyhan oil pipeline on Aug.5 due to an explosion and fire.
Kazakhstan News Roundup - August 26, 2008
ENERGY:
ONGC faces roadblock in Imperial buy
(Economic Times) - State-run explorer ONGC’s move to acquire UK-based oil firm Imperial Energy for about $2.8 billion may hit a road block as it has already exhausted its investment limit.
Explosion in Georgia damages cisterns with Kazakh oil
(TREND) - Due to an explosion, which occurred on Sunday near Gori, 14 cisterns with oil, transported through Georgia from Kazakhstan to the port of Batumi, were damaged.
Korean oil firm has no Imperial designs
(Forbes) - Sources with Korea National Oil Corp. said the state-run oil company had never expressed interest in buying FSU-focused Imperial Energy.
Transmeridian Exploration extends consent payment deadline and expiration time for 12% senior secured notes due 2010 (FOX Business)
BUSINESS AND ECONOMY:
President talks to Halyk Bank CEO about banking sector dynamics
(Interfax) - Kazakhstan president Nursultan Nazarbaev on Monday discussed dynamics and prospects in Kazakhstan’s banking sector with Halyk Bank CEO Gregoriy Marchenko.
National Bank of Kazakhstan: Exchange rates August 26, 2008 (Kazinform)
Indicators - August 25, 2008 (Reuters)
POLITICS:
FM Tazhin held number of negotiations with CICA FMs (Kazinform)
Russian, Kazakh Presidents preparing for CSTO meeting (RBC News)
SOCIETY:
Jehovah’s Witnesses suspended in southern Kazakhstan (Ferghana.ru)
REGIONAL:
Caspian Basin: Russia uses its Georgia position to enhance its energy leverage
(EurasiaNet) - The contest over Caspian Basin energy finds itself at a potentially decisive point as Russia’s incursion into Georgia has caused disruptions in the only export routes for oil and natural gas that are not under Moscow’s control.
Azeri oil will flow via Odessa-Brody at the year-end
(Azeri Press Agency) - Russia’s reverse transportation of oil southward to Odessa may be terminated this year, Ukrainian media reports said.
Kazakhstan News Roundup - August 25, 2008
ENERGY:
Kazakh lines entering 5 years of intensive investment
(Oil and Gas Journal) - Kazakhstan’s oil and gas pipeline operators are set to embark on intensive investment programs over the next 5 years to capitalize on favorable oil and gas industry fundamentals.
Kazakh connection: Kazakhstan says it still backs BTC pipeline
(Wall Street Journal) - Kazakhstan has no intention of backing out of the big BTC pipeline project that runs through Georgia, despite recent suggestions it was mulling such a move.
Fitch release on KazMunaiGaz National Company (SRI)
LyondellBasell’s PE and PP technologies selected by Kazakhstan Petrochemical Industries (SRI)
MINERAL RESOURCES:
Kazakhstan miner’s profit soars
(Wall Street Journal) - Eurasian Natural Resources Corp. said first-half net profit more than tripled and expects a “very strong” second half with steady prices for key steelmaking commodities.
BUSINESS AND ECONOMY:
Kazakhstan Kagazy posts jump in Q1 net profit as revenues rise 21.5 pct (Thomson Financial - Forbes)
Fitch Ratings upgrades Georgian BTA subsidiary (The FINANCIAL)
Co-chairmen of the Intergovernmental Commission on Kazakh-Russian coop met in Astana (Kazinform)
Shortage of qualified labor impedes industrial production growth – Nazarbaev (Interfax)
President Nazarbaev wants the government to assess COEC efficiency (Interfax)
National Bank of Kazakhstan: Exchange rates August 23-25, 2008 (Kazinform)
Indicators - August 22, 2008 (Reuters)
SOCIETY:
Lawyers and media discuss internet content regulation in Almaty (Interfax)
