Kazakhstan Chamber of Commerce in the USA

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Ex-KMG president named head of KazTransOil 0

Posted on October 13, 2011 by Alex

Kairgeldy Kabyldin, ex-president of the national oil and gas company KazMunaiGas,  was  named head  of  its subsidiary and Kazakhstan’s  oil pipeline operator, KazTransOil.

Kabyldin has replaced Nurbol Sultan, who in turn was appointed head of KazTransGas, Kazakhstan’s gas pipeline operator.  Kabyldin, who had been CEO of KazMunaiGas since 2008, was unexpectedly dismissed from his position last week and replaced by Bolat Akchulakov, a young oil and gas executive who is rumored to have close ties to Timur Kulibayev, head of Samruk-Kazyna, the  state-owned holding company  which  owns 100% of shares in KazMunaiGas.

SOURCE: SRI, Kazakhstan Daily News Brief, Issue dated October 12, 2011

Kazakhstan Daily News Roundup – September 26, 2011 0

Posted on September 26, 2011 by Alex

ENERGY:

Tengizchevroil pays $11.5-million environmental fine – PGO (SRI)

KMG, Sinopec sign agreement on cooperation (SRI)

BUSINESS AND ECONOMY:

Kazakhstan faces growing need for warehouse space
(bne) – New modern warehouses are being built in Kazakhstan, but the country still has a pressing need for more, especially in the far-flung central and western cities where food is still stored in rat-infested Soviet buildings.

KASE Index falls 6.74% on Thursday and Friday (SRI)

BAE may sell part of Air Astana stake in preparations for “people’s IPO” (SRI)

Kazakhstan to produce 25 million tonnes of grains this year (SRI)

Kazkommertsbank to liquidate Netherlands-registered subsidiary (SRI)

Kazakhstan sees GDP growth at 7% for 10 years – Foreign Minister (Reuters)

Kazakhstan, Turkmenistan to commission rail link in October (SRI)

Kazakhstan keen to expand UAE trade ties (Khaleej Times)

Tajik Air planes refuel in Kazakhstan (Trend)

Kazakhstan not to export wheat to Iran (Trend)

Indicators – September 23, 2011 (Reuters)

POLITICS AND SECURITY:

Russia, Kazakhstan may merge air defense systems – RIA Novosti (Bloomberg)

Nazarbayev reiterates Kazakhstan’s willingness to house nuclear fuel bank (Interfax)

SOCIETY:

Energy coin fuels Kazakh production plans (Variety)

REGIONAL:

Mongolia’s high plains herders warily eye coal truck (Reuters)

New ‘Silk Road’ eyed for Afghanistan (AFP)

SOURCE: http://silkroadintelligencer.com/2011/09/26/kazakhstan-daily-news-roundup-september-26-2011/

Kazakhstan Daily News Roundup – August 1, 2011 0

Posted on July 31, 2011 by KazCham

Kazakhstan Daily News Roundup – June 20, 2011 0

Posted on June 20, 2011 by KazCham

HEADLINES:

Karachaganak dispute close to resolution – sources
(SRI) – Karachaganak Petroleum Operating (KPO), the Western-led consortium developing the Karachaganak gas condensate field, is close to reaching an agreement with the Kazakh government on ceding a stake in the project to Kazakh oil and gas company KazMunaiGas, Reuters reported last week.

Tengizchevroil to invest up to $20 billion in expansion project
(SRI) – Tengizchevroil (TCO), the Chevron-led joint venture developing the giant Tengiz onshore field, plans to invest up to $20 billion by 2016 to raise production by nearly 40%, Reuters reported on Thursday, citing a senior company official.

China and Kazakhstan: Flourishing strategic partnership strengthens economic development as new tiger economy emerges in Central Asia
(SRI) – On an official visit to Kazakhstan last week, China’s President Hu Jintao and his Kazakh counterpart Nursultan Nazarbayev signed agreements which will bring the economic and strategic partnership between the countries to “historic” new levels.

ENERGY:

KMG to explore oil block with Spanish Repsol (SRI)

BUSINESS AND ECONOMY:

Kazmortransflot to spend $800 million to upgrade fleet
(SRI) – Kazmortransflot, the maritime shipping arm of the state-owned oil and gas company KazMunaiGas, plans to spend about $800 million to upgrade its fleet over the next eight years.

OTP Bank considering expansion into Kazakhstan (SRI)

Indicators – June 17, 2011 (Reuters)

POLITICS:

Kazakh President’s ex-son-in-law charged with murder (Telegraph)

Murder rap in Rakhatgate – four years on (EurasiaNet)

REGIONAL:

On the Caspian shore, a tale of two Turkmenistans (Reuters)

Tajiks riot in football match with president’s son (AFP)

Tajikistan detains BBC reporter for ‘Islamist links’ (AFP)

SOURCE: http://silkroadintelligencer.com/2011/06/20/kazakhstan-daily-news-roundup-june-20-2011/

Kazakhstan Daily News Roundup – December 6, 2010 0

Posted on December 06, 2010 by KazCham

HEADLINES:

KazNex Invest tries to drum up exports, investments
(bne) – In an economy dominated by the natural resources sector and next door to the world’s largest manufacturer, diversifying the economy is no easy task. KazNex Invest, Kazakhstan’s investment and export promotion agency, is trying many different ways to make this happen.

Swiss authorities investigate Kulibayev money laundering allegations – report
(SRI) – Swiss prosecutors have reportedly launched an investigation into money laundering allegations by Kazakh billionaire Timur Kulibayev, according to British and Kazakh media.

ENERGY:

ONGC to soon sign pact for Kazakh block – source (Reuters)

KMG’s Rompetrol to focus on Balkan, CIS as parent boosts production (Bloomberg)

BUSINESS AND ECONOMY:

Court documents allege ‘corrupt’ Kazakhstan regime’s link to FTSE firms (The Guardian)

Mandelson’s speeches for multi-billion fund run by Andrew’s Kazakh friend (Mail Online)

Colliers International expands into Kazakhstan (Property Magazine)

National Bank of Kazakhstan: Exchange rates December 4-6, 2010 (Kazakhstan Today)

REGIONAL:

Kyrgyzstan renews attempts to build coalition government (Reuters)

British bank RBS to sell Uzbekistan unit to KDB (AFP)

SOURCE: http://silkroadintelligencer.com/2010/12/06/kazakhstan-daily-news-roundup-december-6-2010/

Kazakhstan Daily News Roundup – September 29, 2010 0

Posted on September 29, 2010 by KazCham

HEADLINES:

Mittal sells stake in Kazakh oil company to Chinese Sinopec
(SRI) – Mittal Investment Sarl, the investment vehicle of India’s steel tycoon Lakshmi Mittal, sold its stake in Kazakhstan-focused oil company Caspian Investment Resources to Chinese Sinopec for an undisclosed sum, local media reported on Tuesday.

Bank of China lends $232 million to KMG, Citic joint venture
(SRI) – Bank of China Ltd. has agreed to lend $232 million to the joint venture of Kazakhstan’s KazMunaiGas and Chinese Citic Group to build a bitumen plant in Aktau.

Kaspi Bank to boost lending by up to 15% in 2010 – CEO
(SRI) – Kaspi Bank, Kazakhstan’s eighth largest bank, plans to grow its loan portfolio by 10-15% in 2010 as it expects to rebound from last year’s net loss, the bank’s CEO Mikhail Lomtadze told Reuters.

ENERGY:

Max Petroleum to drill well at Asanketken (SRI)

Russia, Kazakhstan plan to develop renewable energy industry (RIA Novosti)

BUSINESS AND ECONOMY:

Airstream arranges ERJ-145 delivery to Kazakhstan (ERAA)

National Bank of Kazakhstan: Exchange rates September 29, 2010 (Kazakhstan Today)

Indicators – September 28, 2010 (Reuters)

METALS AND MINING:

New rebar mini-mill commissioned in southern Kazakhstan (SteelOrbis)

Alhambra closes oversubscribed equity financing for $8 million (Marketwire)

POLITICS:

Kazakhstan’s president confidence rating high (Interfax)

Issues of opposing nuclear terror financing discussed in Astana (Itar-Tass)

Kazakhstan Daily News Roundup – September 28, 2010 0

Posted on September 28, 2010 by KazCham

HEADLINES:

KMG Exploration Production buys two Kazakh oil firms for $65 million
(SRI) – KazMunaiGas Exploration & Production (KMG EP), the London-listed subsidiary of the Kazakh national oil and gas company, said on Monday it will buy two small Kazakh oil firms as it seeks to expand production synergies.

Kazakhstan to ban buckwheat exports
(SRI) – Kazakhstan plans to “temporarily” ban the export of oilseeds and buckwheat as domestic prices soared in September, the government said on Monday.

Samruk-Kazyna places $418-million bonds on KASE
(SRI) – Samruk-Kazyna, Kazakhstan’s state owned holding and investment company, placed 10-year domestic bonds worth KZT61.4 billion ($418 million) on the Kazakhstan Stock Exchange (KASE) on Monday, KASE reported.

ENERGY:

Max Petroleum reassures investors at AGM (Interactive Investor)

Environment agency of Kazakhstan to complete inspections of all oil companies by end of September (Interfax)

BUSINESS AND ECONOMY:

Tau Capital invests in Kazakh oil explorer (SRI)

Kazakhstan to export 7-8 million tons of grain (SRI)

Moody’s assigns (P)Baa3 to Kazakhstan Temir Zholy’s proposed notes (Cbonds.Info)

AREM suggests tightening control of monopolies as to their contractual obligations (Interfax)

National Bank of Kazakhstan: Exchange rates September 28, 2010 (Kazakhstan Today)

Indicators – September 28, 2010 (Reuters)

MINERAL RESOURCES:

ArcelorMittal Temirtau to launch $75 million environmental program (SRI)

POLITICS:

Financial Police brings charges against Kazakh Health Minister (Interfax)

REGIONAL:

Russia wants to supply all of China’s gas needs (AP)

Documentary shows dramatic shrinking of the Aral Sea (AFP)

SOURCE: http://silkroadintelligencer.com/2010/09/28/kazakhstan-daily-news-roundup-september-28-2010/

Kazakhstan Daily News Roundup – September 1, 2010 0

Posted on September 01, 2010 by KazCham

HEADLINES:

Kazakhstan to double crude oil export duties in 2011
(AFP) – Energy-rich Kazakhstan will double its crude export duty tax to 40 dollars (31.51 euros) per tonne next year to boost revenue, the country’s finance ministry said on Tuesday.

Halyk quadruples first-half net income
(SRI) – Halyk Bank, Kazakhstan’s second largest lender, almost quadrupled its net income to KZT16.6 billion ($113 million) in the first six months of 2010, the bank said in a statement on Tuesday.

Kazakhstan forecasts 3.1% GDP growth in 2011
(Reuters) – Kazakhstan, the biggest oil producer in Central Asia, forecast on Tuesday that economic growth would slow to 3.1 percent next year from a forecast 4.0 percent in 2010 before picking up over the following two years.

ENERGY:

KMG EP looks beyond Kazakhstan in BG North Sea deal (Reuters)

Uranium One shareholders approve asset swap deal with ARMZ (RIA Novosti)

Kazakhstan may supply crude oil to Belarus, ambassador says (Belarus News)

Kazakh envoy to Baku: Keep pipe dreaming (EurasiaNet)

BUSINESS AND ECONOMY:

Kazkommertsbank net income up 3% in first half (SRI)

National Bank of Kazakhstan: Exchange rates September 1, 2010 (Kazakhstan Today)

SOCIETY:

Beatlemania in Kazakhstan as country hosts first Beatles festival (Telegraph)

SOURCE: http://silkroadintelligencer.com/2010/09/01/kazakhstan-daily-news-roundup-september-1-2010/

Kazakhstan Daily News Roundup – August 24, 2010 0

Posted on August 24, 2010 by KazCham

HEADLINES:

Kazakhstan first in, first out
(bne) – Predictions that Kazakhstan would be first in, first out of the crisis have proved to be not far from the truth. The rise in commodity prices over the last year has boosted the natural resources sector, which has in turn dragged the rest of the economy, including the banking sector, along with it.

PetroKazakhstan and Lukoil end ownership dispute over Kazakh oil field
(SRI) – Russian Lukoil signed an agreement with PetroKazakhstan, a Kazakh-Chinese joint venture, that will pay the Russian oil company about $438 million in damages to bring an end to a prolonged ownership dispute over the Kazakh Turgai Petroleum oil venture.

Kazakhstan ready to increase grain exports to drought-stricken Russia
(SRI) – Kazakhstan is ready to supply up to 2 million tonnes of grain to Russia this season, about 25% of its total exports, as Russia may face shortage caused by prolonged heat wave and draught, Reuters reported last week.

ENERGY:

KMG EP first-half income falls 22% on forex (SRI)

KazMunaiGas said to plan joint exploration venture with BG in North Sea (Bloomberg)

Tax police to complete KPO tax probe in two weeks (Interfax)

Tethys Petroleum: Kazakhstan Kul-Bas exploration period extended (Marketwire)

BUSINESS AND ECONOMY:

Kazakhstan pushes Islamic finance post-crisis (Reuters)

BTA issues shares as part of restructuring (SRI)

ATF reports losses in January – July (SRI)

Financial police probing alleged misappropriation of KZT58.7 million at Almaty Airport (Interfax)

Kazakhstan to build new crop-duster aircraft (RIA Novosti)

National Bank of Kazakhstan: Exchange rates August 24, 2010 (Kazakhstan Today)

METALS AND MINING:

ENRC buys into disputed Congo project (Financial Times)

Alhambra, John Komarnicki and Hillcrest Investments announce conversion of secured debentures into shares (Marketwire)

Alhambra closes $4.6-million first tranche of $6.0-million equity financing (Marketwire)

POLITICS:

Ablyazov asylum case could lead to rift with Kazakhstan (Telegraph)

REGIONAL:

Tajik borders tightened after deadly jailbreak (AFP)

Southern Kyrgyz mayor challenges government authority (AP)

Azerbaijan Supreme Court rejects bloggers’ appeal – lawyer (AFP)

SOURCE: http://silkroadintelligencer.com/2010/08/24/kazakhstan-daily-news-roundup-august-24-2010/

Kazakhstan Daily News Roundup – July 29, 2010 0

Posted on July 29, 2010 by KazCham

HEADLINES:

KMG EP first half crude output up 11 percent
(SRI) – KazMunaiGas Exploration and Production (KMG EP) increased crude oil output by 11 percent year-on-year in the first half of 2010, following the acquisition of a stake in PetroKazakhstan, the company said on Wednesday.

Tengizchevroil produces 12.5 million tonnes in H1 2010
(SRI) – Tengizchevroil (TCO), the Chevron-led venture developing the giant Tengiz oil field, produced 12.5 tonnes of crude oil and 4 billion cubic meters of gas in the first half of 2010, the company said on Wednesday.

ENERGY:

Export duty variable, based on price – Masimov (SRI)

CPC to hold tenders for expansion by end of 2010 – Transneft (SRI)

U.S. looks forward to settlement of TCO dispute (Interfax)

U.S. special envoy dismisses critical remarks over Nabucco project (Interfax)

METALS AND MINING:

Polyus reverse takeover may boost market value (Bloomberg – Moscow Times)

KazakhGold investors approve annulment of Eurobond covenants (RBC News)

BUSINESS AND ECONOMY:

Kazakhstan turns to sukuk after Eurobond offering dropped (Bloomberg)

National Bank of Kazakhstan: Exchange rates July 29, 2010 (Kazinform)

SOURCE: http://silkroadintelligencer.com/2010/07/29/kazakhstan-daily-news-roundup-july-29-2010/



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