Total buys stake in Petrolinvest Kazakh license for $70 million

(SRI) - French oil major Total signed an agreement with Polish Petrolinvest to acquire a 50-percent interest in Petrolinvest’s Kazakhstan license held by its subsidiary OilTechnoGroup (OTG).

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Zhaikmunai reports record production in Q4 2009

(SRI) - Zhaikmunai LP, a Kazakhstan-focused oil and gas company, reported an average daily production of 7,559 barrels of oil equivalent in the fourth quarter of 2009, up 53 percent year-on-year.

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Oil and gas exports up in January

(SRI) - Kazakhstan exported 5.204 million tons of oil and gas condensate in January, up 16.7 percent compared to the same period last year, the State Statistical Agency reported. Export revenues in January amounted to $2.756 billion.

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OzenMunaiGas head dismissed amid strike

(SRI) - The head of OzenMunaiGas, a subsidiary of KazMunaiGas Exploration Production (KMG EP), Baqytqali Biseken, has been dismissed on Tuesday as the company’s workers continued to strike, RFE/RL reported.

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OzenMunaiGas daily losses grow as strike continues

(SRI) - A strike at the OzenMunaiGas production facility continues, causing its parent company KazMunaiGas Exploration Production (KMG EP) production losses of 800 tons a day, Kazakh internet daily Vesti.kz reported.

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Government approves Kashagan budget for 2010

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KPO facing back tax claims - Reuters

(SRI) - Karachaganak Petroleum Operating (KPO), the Western-led consortium developing Kazakhstan’s Karachaganak gas condensate field could be hit with a tax claim of $136 million, Reuters reported citing a source familiar with the situation.

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Kazakhstan to audit Karachaganak venture

(SRI) - Kazakh prosecutors are probing Karachaganak Petroleum Operating (KPO), a venture developing the giant oil and gas condensate Karachaganak field and run by British BG Group and Italian Eni, for compliance with labor and migration legislation.

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CPC shipments down 10 percent in February

(SRI) - The Caspian Pipeline Consortium (CPC), which transports Kazakh crude to the Black Sea via the CPC pipeline, shipped 713,400 barrels per day in February, down 10.3 percent from January, CPC said on its website.

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KMG EP net profit down 13 percent in 2009

(SRI) - KazMunaiGas Exploration Production (KMG EP), the London-listed subsidiary of the Kazakh national oil company, said its net profit declined 13 percent to KZT209.7 billion ($1.4 billion) in 2009 due to lower oil prices and higher taxes.

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