Kazakhstan Chamber of Commerce in the USA


Kazakhstan Daily News Roundup – September 19, 2011 0

Posted on September 19, 2011 by Alex


Lukoil not interested in Kashagan – Alekperov (SRI)

KMG EP to buy back up to $300 million worth of shares (SRI)

Kazatomprom net income rises 77% in first half (SRI)

Max Petroleum to drill ‘deep salt’ Emba B target next month (Proactive Investors)

Fitch raises rating of Kaztransgas to BB+ (SRI)


BTA Bank seeks Ablyazov arrest amid claims of Kazakh strike support (SRI)

Polish company to buy Kazakhstan’s largest pharmaceutical producer (SRI)

Kazakhstan intends to become an important transit country for China-Europe trade – Issekeshev (SRI)

Grain harvest may reach record levels in 2011 (SRI)

Nurbank reports positive income in H1 (SRI)

Indicators – September 16, 2011 (Reuters)


Mashkevich stresses he has no plans to sell ENRC stake (SRI)

Hambledon Mining acquires two new Kazakh gold projects to boost future production (Proactive Investors)

ENRC to invest $6 billion in Kazakhstani assets development (Interfax)

Kazakhstan to create metallurgical free economic zone (Interfax)


‘We don’t have anything to eat’ – Desperation and poverty growing as Kazakh strikes drag on(RFE/RL)

Kazakhstan ready to re-open access to LiveJournal after banned content is removed (Interfax)

U.S.-Russian space trio lands safely in Kazakhstan (Reuters)


EU trio takes 50% stake in Russia’s South Stream (AFP)

Uzbek leader’s daughter hits fashion controversy (AFP)

Kazakh PM says Kyrgyzstan should join CIS Customs Union (RFE/RL)

SOURCE: http://silkroadintelligencer.com/2011/09/19/kazakhstan-daily-news-roundup-september-19-2011/

Kazakhstan Daily News Roundup – September 5, 2011 0

Posted on September 06, 2011 by Alex

Kazakhstan Daily News Roundup – July 7, 2011 0

Posted on July 06, 2011 by KazCham

Kashagan said in crisis (again)

(bne) – Shell and its partners developing the Kashagan oilfield will have to ask the Kazakh government for an extension to the 2013 deadline for the first oil from the troubled project, in what would be a humiliating move that could have dire consequences for the future of the project, according to The Daily Telegraph.


Consortium launches $5.4-billion pipeline expansion (SRI)

Max Petroleum to raise production in Q3; receives trial production approval (SRI)

Gazprom cosies up to Kazakh billionaire (Financial Times)

Jupiter Energy eyes significant milestones in coming months (Proactive Investors)


BTA makes $166.4 coupon payment (SRI)

On the move: BTA Bank, Samruk-Kazyna (SRI)

Saks, de Beers opening stores in Kazakhstan (SRI)

Monthly inflation 0.3% in June (SRI)

Kazakh central bank leaves refinancing rate unchanged at 7.5% (SRI)

S&P affirms Kazpost ratings, withdraws them upon company request (S&P)

New defaults on the Kazakhstan Stock Exchange possible – KASE chairman (Interfax)

Indicators – July 5, 2011 (Reuters)


Kazakhstan may build new gold refinery to help boost output (SRI)

Kazakhmys to consider acquisitions with “huge” production potential (SRI)

Kazakh, Slovak companies to mine for lead ore in eastern Kazakhstan (SRI)

Sunkar reports progress on Chilisai project study (SRI)

First Quantum won’t sell its congolese plant to ENRC, pursues mine rights (Bloomberg)


The scent of elections (EurasiaNet)

Kazakhstan opens naval air base, intimidates strikers? (EurasiaNet)


Sting cancels Kazakh concert over oil worker dispute (SRI)

Kazakhs invest in new Astana (euronews)

Authoritarian Kazakh prez to be hero of fairy tale (AP)


U.S. shifts supply routes to Central Asia – report (AFP)

Turkmenistan president ’sings own birthday song’ (AFP)

SOURCE: http://silkroadintelligencer.com/2011/07/07/kazakhstan-daily-news-roundup-july-7-2011/

Kazakhstan Daily News Roundup – May 30, 2011 0

Posted on May 30, 2011 by KazCham


KMG EP looks for new exploration assets at home and abroad
(bne) – KazMunaiGas Exploration Production is making a big push to acquire new oil and gas prospects both in Kazakhstan and abroad in order to maintain production levels as its main fields mature.

KazMunaiGas may transfer Kashagan stake to traded unit
(Bloomberg) – KazMunaiGas may transfer its stake in the Kashagan oil field to its London-traded unit, KazMunaiGas Exploration Production, said Kairgeldy Kabyldin, the CEO of the Kazakh state oil producer.

No plans to raise oil export duty – Mynbayev (SRI)

Kashagan extractions to start by 2012, Eni’s Descalzi tells Sole (Bloomberg)

Zhaikmunai reports $11.2 million in first-quarter income (SRI)

KazMunaiGas says workers’ strikes have little impact on output (Bloomberg)


Alliance Bank hires law firm to recover embezzled assets (SRI)

On the move: Samruk-Kazyna Real Estate Fund (SRI)

Emerging markets head for IMF unlikely – Marchenko (Financial Times)

BTA Bank bonds ‘everyone loves to hate’ slide to record lows (Bloomberg)

British court orders arrest of brother-in-law of Kazakh BTA bank ex-head (RIA Novosti)

China invests $5.5 billion in Kazakh economy in 2010 (SRI)

Astana closing in on WTO membership (EurasiaNet)

Indicators – May 27, 2011 (Reuters)


No new shares for Kazakhmys Hong Kong listing
(SRI) – Kazakhstan’s largest copper miner Kazakhmys said Friday its board of directors has approved a secondary listing of the company’s shares on the Hong Kong Stock Exchange in June but the listing won’t result in the issue of new shares.

Red October may buy stake in Kazakhstan copper project (Mining Weekly)


Kazakh opposition calls for halt to China expansion
(Reuters) – Opposition activists in Kazakhstan called on the government on Saturday to stop Chinese investment in the country’s natural resources, saying Beijing could be preparing a land grab in Central Asia.

Jailed Kazakh human rights activist released on furlough (RFE/RL)


Tethys Petroleum finds oil at Tajik well; shares jump (Reuters)

Tajikistan at growing risk of insurgency – report (Reuters)

SOURCE: http://silkroadintelligencer.com/2011/05/30/kazakhstan-daily-news-roundup-may-30-2011/


Kazakhstan Daily News Roundup – January 31, 2011 0

Posted on January 31, 2011 by KazCham


Kazakh leader says ready to stay in power
(AFP) – Kazakh President Nursultan Nazarbayev on Friday said he was ready to work for as long as required as his country is expected to hold a referendum on whether to extend his term until 2020.


Kashagan to feed CPC (Oil and Gas Eurasia)

Roxi Petroleum tanks 25% after NK20 well disappoints (Proactive Investors)

BMB Munai enters agreement to extend noteholders’ redemption rights (PR Newswire)


EBRD ups 2011 economic growth forecast (SRI)

Kazakhstan seeks Ablyazov’s extradition from the UK (SRI)

Kazakhstan to sell oil, power firms from 2012 (Reuters)

Germany plans Kazakhstan raw materials partnership (Reuters)

Troika Dialog Kazakhstan hires Blair Pollock as deputy head (SRI)

Kazakhstan to export 60,000 tons of meat in 2016 (Bloomberg)

Kazakhstan attracted over $120 billion in foreign investment through the years of independence – Nazarbayev (Interfax)

National Bank of Kazakhstan: Exchange rates January 29-31, 2011 (Kazakhstan Today)

Indicators – January 28, 2011 (Reuters)


Kazakhmys annual copper output in line (Reuters)

Polyus 2010 core profit up by one third (Reuters)


Kazakhstan’s constitutional referendum: Western questions, Kazakh answers (Eurasia Daily Monitor)

Washington presses Astana on bid to extend president’s rule – but is anyone listening? (EurasiaNet)


Asian Winter Games to open in Kazakhstan (AFP)

Fake Nazarbayev grandson nabbed for swindling (EurasiaNet)

Source: http://silkroadintelligencer.com/2011/01/31/kazakhstan-daily-news-roundup-january-31-2011/

Kazakhstan Daily News Roundup – December 8, 2010 0

Posted on December 08, 2010 by KazCham


Central bank to support managed float for tenge in 2011
(SRI) – The National Bank of Kazakhstan would support the return of the tenge currency to a managed float next year and the removal of its current trading corridor, the central bank’s chairman, Grigoriy Marchenko, said on Tuesday.

First Quantum sues ENRC over Congolese mining project
(SRI) – Canada-based First Quantum Minerals Ltd. on Friday launched a $2-billion lawsuit against Kazakhstan’s Eurasian Natural Resources (ENRC), related to a disputed purchase of a copper and cobalt project in the Congo, wire services reported.

Kashagan to begin commercial production in 2012 – Mynbayev (SRI)


Kazakhstan’s foreign reserves decrease 0.6% in November (SRI)

ATF Bank reports $175-million loss in Jan-Sep (SRI)

Kazakh government approves documents on Common Economic Space (Itar-Tass)

Kazakh president approves state budget for 2011-2013 (Interfax)

National Bank of Kazakhstan: Exchange rates December 8, 2010 (Kazakhstan Today)

Indicators – December 7, 2010 (Reuters)


Renaissance Capital sues ENRC subsidiary Camec over $14 million deal advice fee (Bloomberg)

Orsu Metals reports progress on Karchiga project feasibility study (Marketwire)


Kazakhstan’s president for life asks for more life (CBS News)

SOURCE: http://silkroadintelligencer.com/2010/12/08/kazakhstan-daily-news-roundup-december-8-2010/

Kazakhstan Daily News Roundup – December 7, 2010 0

Posted on December 07, 2010 by KazCham


Kashagan to begin commercial production in 2012 – Mynbayev
(SRI) – The giant Kashagan offshore oil field could begin commercial production as early as by the end of 2012, slightly ahead of schedule, Kazakhstan’s Oil and Gas Minister Sauat Mynbayev said on Monday during an official visit to India.

British court upholds freeze on Ablyazov assets
(SRI) – Mukhtar Ablyazov, the fugitive former head of Kazakhstan’s BTA Bank, has failed to prevent his assets from being subject to a receivership order by the High Court in London, the court said last week.

KazNex Invest tries to drum up exports, investments (bne)


Kazakhstan may transfer Satpayev block stake to ONGC by February (Bloomberg)

Tethys Petroleum begins drilling Kalypso well in Kazakhstan (Proactive Investors)


November inflation 0.8% – statistics agency (SRI)

Fitch affirms, withdraws Eurasian Bank rating (SRI)

Kazakhs to relaunch space industry (Telegraph)

National Bank of Kazakhstan: Exchange rates December 7, 2010 (Kazakhstan Today)

Indicators – December 6, 2010 (Reuters)


Russia, Kazakstan, Belarus scrap 5% import duty on coking coal (Bloomberg)

SOURCE: http://silkroadintelligencer.com/2010/12/07/kazakhstan-daily-news-roundup-december-7-2010/

Kazakhstan Daily News Roundup – August 13, 2010 0

Posted on August 13, 2010 by KazCham


Kashagan partners to delay second phase of development until 2018-19
(SRI) – The second phase of development of the Kashagan oil field has been postponed until 2018-2019, local newswires reported on Thursday, citing the chief executive of Kazakh oil and gas company KazMunaiGas.

Tame ending to “Mr Kazakhstan” investigation
(bne) – James Giffen, the American consultant dubbed “Mr Kazakhstan” for his role in 1990s oil deals, has pleaded guilty to a tax misdemeanor. He is facing a maximum penalty of just one year in jail and a $25,000 fine when he is sentenced in November.

Tengizchevroil may cut oil supply via Georgia
(Reuters) – The Chevron-led Tengizchevroil venture may cut crude deliveries via Georgia diverting them to Turkish hub of Ceyhan due to a row between the owners of the Georgian terminals.


Aker enters Kazakh engineering JV (PennEnergy)

KazMunaiGas to invest $8 billion in Kashagan development project in 2010-2014 (Interfax)

Tengizchevroil to invest $10-16 billion before 2017 in Tengiz expansion project (Interfax)

Caspian Energy announces Q2 2010 financial results (Marketwire)


Kazakh rate cut would need lower inflation – central bank (Reuters)

Kazakh deal on grain genetics (Weekly Times)

National Bank of Kazakhstan: Exchange rates August 13, 2010 (Kazakhstan Today)


Orsu Metals announces Q2 2010 interim results (Marketwire)

Financial Police have yet to file fraud charges against Polyus Gold managers (Interfax)


Kazakhstan gets UK’s OK for defense exports (EurasiaNet)


Two dead in Kazakh prison riot (BBC News)


Central Asia’s new Silk Roads (International Herald Tribune)

Several hundred Kyrgyz rally against OSCE deployment (Reuters)

Russian drought devours world wheat supplies – U.S. (AFP)

SOURCE: http://silkroadintelligencer.com/2010/08/13/kazakhstan-daily-news-roundup-august-13-2010/

Kazakhstan wants tighter oil drilling controls post BP spill 0

Posted on June 07, 2010 by KazCham

Telegraph.co.uk, June 3

Kazakhstan wants to tighten environmental safety requirements on Royal Dutch Shell’s giant offshore Kashagan development in the wake of BP’s ongoing Gulf of Mexico disaster, in a further sign that the blow-out will increase the cost of oil projects worldwide.

Sauat Mynbayev, Kazakhstan’s Minister of Oil and Gas said: “It’s clear that we need the consortium members to take seriously the signals from the Gulf of Mexico event, and it’s clear that going forward, environmental issues will find their expression not simply in making more environmental constraints.”

Kashagan’s total expected costs have already ballooned from $57bn (?39bn) to $136bn, making it one of the most costly projects under development anywhere in the world today. Further safety measures risk making costs blow out still further.

Mynbayev said that Kashagan was in some ways much simpler than BP’s Gulf of Mexico well: while BP is drilling at a depth of 1.5km, Kashagan is in such shallow water that it almost qualifies as an onshore field. The development is taking place on an artificial island in the North of the Caspian.

But he said that the dangers were in other ways greater. An oil spill in the land-locked Caspian could have more far-reaching environmental consequences as the oil would have nowhere to dissipate, and the extremely high concentrations of sulphur in the Kashagan reservoir mean that a leak would kill anything living nearby. “Obviously we must take all measures to make sure that that doesn’t happen,” he said.

Shell has a 16.8pc stake in the North Caspian Operating Company developing the field, alongside France’s Total, and Italy’s ENI, which is overseeing the development.

WorleyParsons-led venture awarded Kashagan contract 0

Posted on April 19, 2010 by KazCham

(SRI) – Australian oil services group WorleyParsons said last week it has been awarded an updated contract from Shell for the second phase of development of the giant Kashagan oil field.

The contract includes front-end engineering and design (FEED) work for onshore and offshore facilities and pipelines, as well as options for early works, detail engineering, procurement services, technical assistance and design-system integrity.

The contract, awarded to a joint venture of WorleyParsons, CB&I and Aker Solutions, is expected to generate revenue of GBP170 million, the Australian company said in a statement. It replaces an earlier contract with AgipKCO, the former operator of the Kashagan oil field, announced in January 2009.

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