Kazakhstan Chamber of Commerce in the USA

KazCham



Kazakhstan Daily News Roundup – June 30, 2011 0

Posted on June 29, 2011 by KazCham

Kazakhstan Daily News Roundup – June 29, 2011 0

Posted on June 28, 2011 by KazCham

ENERGY:

KMG EP reduces output forecast due to strike
(SRI) – KazMunaiGas Exploration Production (KMG EP) expects its 2011 crude oil production to fall 4% lower than previously planned 13.5 million tonnes as a strike at a major field enters a second month, the company said on Tuesday.

KMG EP hit with $104-million export tax bill
(SRI) – KazMunaiGas Exploration Production (KMG EP), the London-listed subsidiary of the national oil company KazMunaiGas, said on Tuesday Kazakhstan’s Supreme Court had rejected its claim that it had been exempt from paying KZT15.2 billion ($104 million) in export duties.

Zhambai consortium requests extension of exploration phase
(SRI) – The international consortium developing the Zhambai Yuzhny-Yuzhnoe Zaburunye (Zhambai) hydrocarbon block in Kazakhstan’s section of the Caspian Sea has asked the Kazakh government for an extension of its exploration license, Interfax reported on Tuesday.

Kazakhstan, Russia lead way to reduce gas flaring and lower emissions (World Bank Group)

Kazakhstan to tighten environmental requirements for Caspian offshore operations (Interfax)

Nazarbayev urges OIC countries to take joint action in energy sphere (Interfax)

BUSINESS AND ECONOMY:

Moody’s rates Bank CenterCredit at Ba3 (Moody’s)

S&P assigned rating to Delta Bank, Outlook “Stable” (S&P)

Eurocopter and Kazakhstan Engineering sign agreement (Corporate Jet Investor)

Indicators – June 28, 2011 (Reuters)

METALS AND MINING:

Kazakhmys may issue shares in Hong Kong to raise funds – CEO
(SRI) – Kazakh copper miner Kazakhmys may consider raising capital by issuing new shares on the Hong Kong Stock Exchange when the stock market recovers, the company’s CEO Oleg Novachuk said on Tuesday, Dow Jones reported.

POLITICS:

Shygys 2011: The mysterious “hypothetical opponent” (Eurasia Daily Monitor)

EU and Astana launch talks on new enhanced PCA (Europolitics)

Kazakhstan leader pushes for progress, urges OIC states to rethink priorities (Arab News)

REGIONAL:

Kyrgyzstan’s gold rush on ice (Reuters)

Turkmenistan to borrow $240 mln for water, rail link (Reuters)

SOURCE: http://silkroadintelligencer.com/2011/06/29/kazakhstan-daily-news-roundup-june-29-2011/

 

Kazakhstan Daily News Roundup – June 23, 2011 0

Posted on June 23, 2011 by KazCham

ANALYSIS:

Strikes cripple oil production at major KMG EP oil fields
(SRI) – KazMunaiGas Exploration Production (KMG EP), the London-traded Kazakh oil company, continues to suffer production losses amid prolonged strikes at two of its major oil fields.

ENERGY:

Samruk-Energo reaches framework agreement with China Exim Bank (SRI)

BUSINESS AND ECONOMY:

Fitch affirms BTA Bank and Alliance Bank ratings (Fitch)

BTA Bank posted net loss last month – central bank (Bloomberg)

Indicators – June 22, 2011 (Reuters)

METALS AND MINING:

Kazakhmys to raise copper output 60% with new deposits
(SRI) – Kazakhmys, Kazakhstan’s largest copper miner, said the expected combined annual copper production at the Bozshakol and Aktogay deposits will be 200,000 tonnes, increasing the company’s copper output by 60%.

Kazzinc, BHP to vie for Tajik silver deposit
(Reuters) – A consortium led by Glencore-owned Kazzinc and BHP Billiton are the only contenders for Tajikistan’s largest silver field after three Chinese rivals withdrew their bids, a government official said.

SOCIETY:

Kazakhstan to introduce satellite surveillance to track immigrants avoiding extradition (Interfax)

SOURCE: http://silkroadintelligencer.com/2011/06/23/kazakhstan-daily-news-roundup-june-23-2011/

 

Kazakhstan Daily News Roundup – June 22, 2011 0

Posted on June 21, 2011 by KazCham

HEADLINES:

BTA Bank says has cash to meet June bond payment
(SRI) – BTA Bank, Kazakhstan’s third-largest bank by assets, said it had sufficient liquidity to meet an upcoming bond coupon payment of $166 million without affecting its day-to-day operations.

BTA seeks U.K. prison terms for Ablyazov accomplices
(SRI) – BTA Bank, Kazakhstan’s third largest lender, is seeking U.K. prison terms for two alleged accomplices of the bank’s fugitive former chairman Mukhtar Ablyazov, Bloomberg reported on Tuesday.

ENERGY:

Kazatomprom, Areva joint venture to boost uranium output in 2012
(SRI) – KATCO, a joint venture between French nuclear group Areva and Kazakhstan’s Kazatomprom, plans to raise its annual uranium production to 4,000 tonnes in 2012, the head of the venture said on Tuesday.

CPC expansion project to officially launch on July 1 (SRI)

Production resumes in Kazakhstan – Caspian Energy (Marketwire)

BUSINESS AND ECONOMY:

Kazakh MinFin working on SCO Development Bank concept – deputy minister (SRI)

Results of 2011 sowing season (AgriMarket.Info)

China to set up free trade zones with Kazakhstan, Kyrgyzstan (RIA Novosti)

Indicators – June 21, 2011 (Reuters)

METALS AND MINING:

Kazakhmys to start trading in Hong Kong on June 29 (SRI)

Polymetal completes Varvarinskoye audit (SRI)

POLITICS:

The rocky road of Kazakhstan’s Afghanistan deployment (EurasiaNet)

SOCIETY:

Polygamy a fact of life in Kazakhstan (RFE/RL)

SOURCE: http://silkroadintelligencer.com/2011/06/22/kazakhstan-daily-news-roundup-june-22-2011/

 

Kazakhstan Daily News Roundup – May 30, 2011 0

Posted on May 30, 2011 by KazCham

ENERGY:

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)

BUSINESS AND ECONOMY:

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)

METALS AND MINING:

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)

POLITICS:

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)

REGIONAL:

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 – May 17, 2011 0

Posted on May 17, 2011 by KazCham

HEADLINES:

Kazakh BTA bank bonds in sharp selloff
(Reuters) – Bonds in Kazakhstan’s BTA bank extended recent sharp losses on Monday, with the 2025 issue trading at a record low 56 cents on the dollar, following recent results which some said had disappointed investors.

Kazakhmys to list shares in Hong Kong in June
(SRI) – Kazakh copper miner Kazakhmys has gained regulatory approval for a secondary listing in Hong Kong, as it tries to build up its relationship with China, its largest customer.

ENERGY:

Kazakhstan increases oil, gas, coal production in Jan-Apr 2011 (SRI)

Max Petroleum finds oil in ZMA-ET2 well at Zhana Makat field (Proactive Investors)

BUSINESS AND ECONOMY:

Kazakh Q1 trade surplus grows to $11.6 billion (Reuters)

$40 oil price appears in Kazakh economy negative scenario (Interfax)

Indicators – May 16, 2011 (Reuters)

METALS AND MINING:

Polyus Gold to close reverse takeover of KazakhGold in July
(RIA Novosti) – Russia’s top gold miner Polyus Gold will close a long delayed reverse takeover by Kazakhstan’s KazakhGold in July, Mikhail Prokhorov, owner of Onexim group, one of Polyus Gold’s beneficiaries, said on Monday.

Kazakh Jan-Apr copper, zinc output down (Reuters)

Frontier Mining: pit study underlines quality of Benkala project (Proactive Investors)

REGIONAL:

U.S. appoints first Turkmenistan envoy in 5 years (Reuters)

Jubilant Azerbaijan seeks new image with Eurovision (AFP)

 

Kazakhstan Daily News Roundup – May 5, 2011 0

Posted on May 05, 2011 by KazCham

HEADLINES:

Kazakhstan plans capacity market to boost investment in power sector
(bne) – Kazakhstan is planning to create an electricity capacity market in a bid to attract more investment to the power generation sector, the head of the country’s power grid operator tells bne.

International oil companies accounted for 60% in oil and gas investment in last 10 years
(SRI) – International oil companies (IOCs) have accounted for more than half of total investments in Kazakhstan’s oil and gas sector, Oil and Gas Minister Sauat Mynbayev said on Wednesday.

ENERGY:

CPC pipeline April exports down 2.2% month-on-month (SRI)

BUSINESS AND ECONOMY:

IMF raises Kazakh growth forecast on high oil price
(Reuters) – Kazakhstan’s economy is set to expand by 5.9% this year, the International Monetary Fund said on Wednesday, raising its forecast in line with resurgent commodity prices and growth in neighboring Russia and China.

Eurasian Bank to issue $137-million debt (SRI)

Indicators – May 4, 2011 (Reuters)

METALS AND MINING:

Kazakhmys output falls 5.4% on grades; expects to meet goals (Bloomberg)

Hambledon Mining’s improved financials give further evidence of turnaround at Sekisovskoye(Proactive Investors)

Alhambra Resources: 2010 financial and operational results (Marketwire)

REGIONAL:

IMF pledges $100 mln to help restore Kyrgyz economy (Reuters)

U.S. welcomes Kyrgyz cooperation in probe of unrest (AFP)

SOURCE: http://silkroadintelligencer.com/2011/05/05/kazakhstan-daily-news-roundup-may-5-2011/

Kazakhstan Daily News Roundup – April 20, 2011 0

Posted on April 20, 2011 by KazCham

ENERGY:

CPC shareholders agree to launch Expansion Project construction (Trend)

BUSINESS AND ECONOMY:

Kazakhstan to manage stakes in failed lenders via new vehicle
(Bloomberg) – Kazakhstan will consolidate state stakes in BTA Bank, Temirbank and Alliance Bank, three of the four Kazakh lenders that defaulted in 2009, in a new management company, central bank Chairman Grigoriy Marchenko said.

Kazakh tenge gain may not slow inflation – central bank
(Bloomberg) – A stronger currency doesn’t necessarily help slow inflation in countries like Russia and Kazakhstan, according to Grigoriy Marchenko, governor of the National Bank of Kazakhstan.

Kazakhstan urges Russia, Belarus to coordinate currency policies
(Bloomberg) – Kazakhstan urged Russia and Belarus to align currency policies between the three members of a customs union and avoid “sharp, unilateral” devaluations.

Kazakhstan open to discuss turning Baikonur Space Center into joint stock company (RIA Novosti)

Kazakhstan to increase annual financing of geological exploration to KZT40 billion (Interfax)

All projects receiving state support to undergo local content expertise from 2012 (Interfax)

Turkey’s Aselsan to set up plant in Kazakhstan (Trend)

Indicators – April 19, 2011 (Reuters)

METALS AND MINING:

ArcelorMittal Kazakh unit plans $900-million investment
(Reuters) – ArcelorMittal, the world’s largest steelmaker, plans to invest nearly $900 million by 2015 to upgrade its Temirtau plant in Kazakhstan, a company official said.

Workers at Kazakh copper giant go on strike (RFE/RL)

POLITICS:

Kazakhstan makes real progress toward democracy (The Hill)

Kazakh President Nazarbayev sets off for official visit to Estonia (RIA Novosti)

Kazakhstan Daily News Roundup – March 30, 2011 0

Posted on March 30, 2011 by KazCham

ENERGY:

ConocoPhillips mulling exit from Kazakhstan – analyst
(SRI) – ConocoPhillips is considering selling its oil and gas interests in Kazakhstan as part of a planned sale of assets worth up to $17 billion, Reuters reported citing an oil analyst.

Kazakhstan says growth in uranium production will slow next year
(Bloomberg) – Kazakhstan, the world’s biggest uranium producer, plans to increase production of the nuclear fuel by about 2% in 2012, compared with 10% this year, according to state-owned company Kazatomprom.

BUSINESS AND ECONOMY:

Kazakhstan considering increasing reserve requirements for banks (SRI)

National Bank of Kazakhstan: Exchange rates March 29, 2011 (Kazakhstan Today)

Indicators – March 29, 2011 (Reuters)

METALS AND MINING:

Kazakhmys full-year profit jumps 74%
(Reuters) – Kazakhmys, the world’s 10th largest copper miner, said on Tuesday full-year profit jumped 74%, boosted by higher metal prices.

POLITICS:

Successor question looms after Kazakh election (Reuters)

Fair election key to Kazakhstan’s future (World Politics Review)

Nazarbayev pledges to modernize Kazakh political system (RIA Novosti)

SOCIETY:

Respublika: The news weekly that won’t be silenced (EurasiaNet)

Respublika: Keeping the presses rolling (EurasiaNet)

REGIONAL:

Tajik land deal extends China’s reach in Central Asia (Reuters)

SOURCE: http://silkroadintelligencer.com/2011/03/30/kazakhstan-daily-news-roundup-march-30-2011/

Kazakhstan Daily News Roundup – March 3, 2011 0

Posted on March 03, 2011 by KazCham

SOURCE: http://silkroadintelligencer.com/2011/03/03/kazakhstan-daily-news-roundup-march-3-2011/

ENERGY:

KMG EP board recommends record dividend, ups capex budget
(SRI) – KazMunaiGas Exploration Production (KMG EP) plans to pay a dividend of KZT800 ($5.48) per share for 2010, according to recommendation of the oil company’s Board of Directors.

KMG’s Rompetrol to be back in black in 2012 (Reuters)

KMG’s Rompetrol willing to borrow to repay back taxes to Romania (Bloomberg)

Zhaikmunai LP – issuer substitution and KASE (Marketwire)

BUSINESS AND ECONOMY:

Eurasian Bank acquires Kazakh microlender
(SRI) – Eurasian Bank, Kazakhstan’s tenth largest bank, has completed the acquisition of microlender ProstoKredit from French banking group Societe Generale, Eurasian said in a statement on Tuesday.

Kazakh president pushing ENRC and Kazakhmys into ‘People’s IPOs’ (Telegraph)

Lithuania urges Kazakhstan to accelerate transport cooperation (Interfax)

Indicators – March 2, 2011 (Reuters)

METALS AND MINING:

ENRC to spend $6.8 billion on Kazakh, Brazilian iron ore growth (Bloomberg)

ENRC to produce 45 million tons of iron ore in Brazil – Interfax (Bloomberg)

Sunkar Resources Subsoil Use Contract changes ratified (Mineweb)

POLITICS:

Four candidates to run in Kazakh presidential election (RFE/RL)

REGIONAL:

China,Turkmenistan agree on new natural gas supply (Reuters)

RWE, OMV, Nabucco partners must each give $2.3 billion in guarantees (Bloomberg)



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