Kazakhstan Chamber of Commerce in the USA


LUKOIL can attract South Korean finance for Kandym project 0

Posted on August 13, 2015 by KazCham

Colibri Law Firm

LUKOIL’s president, Vagit Alekperov, has announced that the Russian company is ready to attract South Korean banks to finance the Kandym project, which involves the development of a Kandym group of fields in Uzbekistan.

LUKOIL is now actively negotiating with South Korean banks, which are ready to open lines of credit to LUKOIL, as well as to provide project financing for the Kandym fields.

In February 2015, LUKOIL and a consortium headed by South Korean company Hyundai Engineering signed a contract for the procurement and construction of the Kandym gas processing plant in Uzbekistan at a cost of US$2.66 billion. The first phase of the project will be launched in 2018.

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 – August 19, 2011 0

Posted on August 19, 2011 by Alex


CAPEC profit down 29.1% in first half (SRI)

Lukoil Overseas to commence gas utilization at its western Kazakhstan fields by year-end (Interfax)


Rail sector manufacturers set up in Astana
(bne) – Astana is becoming the centre of a brand new manufacturing industry as the Kazakh government’s lavish spending on the country’s railways draws in international firms Alstom, GE and Talgo.

Profile: Marat Zairov – CEO of BTA Bank (SRI)

BTA loses $331 million in first half (SRI)

Kazkommertsbank to finance $1 billion of construction and infrastructure projects in Almaty (SRI)

On the move: Nurbank (SRI)

Indicators – August 19, 2011 (Reuters)


Kazakh company sells majority stake in Kyrgyz gold venture
(SRI) – Kazakhstan-based mining company Summer Gold sold its stake in a joint venture developing the Taldy-Bulak Levoberezhny gold deposit in Kyrgyzstan to Chinese Zijin Mining Group.


Turkmen leader wages war on satellite dishes (AFP)

SOURCE: http://silkroadintelligencer.com/2011/08/19/


Kazakhstan Daily News Roundup – August 18, 2011 0

Posted on August 19, 2011 by Alex


On the move: Shell-led oil consortium names new head
(SRI) – Caspi Meruerty Operating Company B.V. (CMOC) has named Aslan Shapabayev the venture’s director general, the Trend news agency reported on Wednesday, citing the press office of Kazakh oil company KazMunaiTeniz.

Lukoil to abandon two offshore exploration projects in Kazakhstan (SRI)

Fluor awarded CPC expansion contract (SRI)

KazMunaiGas shareholders approve intergation of NBK subsidiary (SRI)


Halyk to buy back 50% of preferred shares in 2011 – CEO
(SRI) – Halyk Bank, Kazakhstan’s second-largest lender by assets, may buy back more than half of its preferred shares held by the state-owned holding and investment company Samruk-Kazyna by the end of the year, Reuters reported on Wednesday.

Kazakhstan to harvest 18.9 million tonnes in 2011 – forecast (SRI)

National Fund for Innovation to set up two venture funds (Interfax)

Indicators – August 17, 2011 (Reuters)


Glencore rumored to seek a stake in ENRC again
(SRI) – The world’s largest commodity trader Glencore International AG plans to acquire a 14.59% stake in Eurasian Natural Resources Corporation (ENRC) from one of the company’s founders, Alexander Mashkevich, Israeli news portal IzRus reported on Wednesday.

ENRC corporate governance review to be concluded mid-September (SRI)

ENRC first-half income grows 29% on higher commodity prices (SRI)

Ex-head of ENRC set for board as charges dropped – FT (Reuters)

Mining Machines supplies equipment to Kazchrome (Interfax)


Kazakhstan to buy Russian helicopters for ambulance aviation (Trend)

Striking oil workers’ leader sentenced in Kazakhstan (RFE/RL)

SOURCE: http://silkroadintelligencer.com/2011/08/18/


Kazakhstan Daily News Roundup – January 24, 2011 0

Posted on January 24, 2011 by KazCham


Kazakhstan to export 7 million tonnes of grain this year as harvest recovers
(SRI) – Kazakhstan expects to export 7 million tonnes of grains in the current marketing year, based on forecasted harvest of 15-16 million tonnes, Reuters reported last week, citing Sagintai Zhumazhanov, head of the Agriculture Ministry’s agrotechnology policy unit.

Lukoil spends $6 billion in Kazakhstan
(SRI) – Lukoil, Russia’s largest oil company, has spent more than $6 billion in Kazakhstan since it began operating in the country, the presidential press service reported on Friday, citing Lukoil head Vagit Alekperov.

ENRC to invest $7 million in Kazakhstan
(SRI) – Eurasian Natural Resources Corporation (ENRC), the London-listed Kazakh mining group, plans to invest up to $7 billion in projects in Kazakhstan, ENRC’s chief executive Felix Vulis said.


Halyk issues 10-year, $500-million Eurobond (SRI)

Air Astana doubles pre-tax income in 2010 (SRI)

Mark Mobius: Kazakhstan’s growing importance for investors (Citywire)

Hyundai opened bus and truck assembly plant in Kazakhstan (Kazinform)

Kazakhstan increased agricultural commodities exports by 16.2% in 2010 (AgriMarket.Info)

Kazakhtelecom and Alcatel-Lucent deploy the first GPON network in Astana (The FINANCIAL)

National Bank of Kazakhstan: Exchange rates January 22-24, 2011 (Kazakhstan Today)

Indicators – January 21, 2011 (Reuters)


Nazarbayev hints at backing for plan to cancel elections (Telegraph)


Turkmen leader says open to rival political parties (Reuters)

ADB grants Tajikistan $120 million for vital road (Reuters)

SOURCE: http://silkroadintelligencer.com/2011/01/24/kazakhstan-daily-news-roundup-january-24-2011/

Kazakhstan Daily News Roundup – October 7, 2010 0

Posted on October 07, 2010 by KazCham


EDB ready to raise funds
(bne) – The Eurasian Development Bank was quick to raise money on international financial markets in its first few months of operation. Four years on, it has no urgent need for funds, but all the tools are in place, allowing it to spring into action when required.

Tengizchevroil sets daily production record
(SRI) – Tengizchevroil (TCO), the Chevron-led venture developing the giant Tengiz oil field, this week set a new daily crude production record of more than 624,000 barrels of crude oil per day, TCO’s new CEO Tim Miller said Wednesday.

Kazakh wealth fund eyes $2 bln in loans for ENRC
(Reuters) – Kazakh sovereign wealth fund Samruk-Kazyna plans to help miner ENRC attract around $2 billion in loans, possibly from Chinese banks, to develop its iron ore unit, the head of the fund said on Wednesday.


Rosneft halts talks with Lukoil on buying CPC pipeline stake (RIA Novosti)


Steppe Cement market share grows to 21.5% (SRI)

Kazakhstan average grain production to grow to 17.8 million tonnes until 2015 (SRI)

Russia-Kazakhstan nanotechnology venture fund moves closer to founding (Nanowerk)


Kyrgyzstan to vote amid fear of more violence (Reuters)

Tajik military helicopter crash kills 28 – sources (Reuters)

SOURCE: http://silkroadintelligencer.com/2010/10/07/kazakhstan-daily-news-roundup-october-7-2010/

Kazakhstan Daily News Roundup – September 30, 2010 0

Posted on September 30, 2010 by KazCham


Chevron-led Kazakh venture with Exxon doubles oil-extraction tax payments
(Bloomberg) – Chevron Corp.’s Kazakh oil venture, the country’s biggest exporter of the fuel, more than doubled crude extraction tax payments as the government seeks a larger share of resource revenue.

Kazakhstan Temir Zholy launches $700-million bond at 6.375% – Reuters
(SRI) – Kazakhstan Temir Zholy, the state-owned railway operator, has launched a $700 million 10-year Eurobond at 6.375% and received investor bids of over $8 billion for the issue, Reuters reported on Wednesday citing a source at one of the lead managers.

Metro opens second store in Kazakhstan
(SRI) – German retailer Metro Cash & Carry opened its second Kazakh store on Wednesday in Almaty, following the opening of its first outlet last year in Astana.


Lukoil, China National to expand exploration cooperation, may swap assets (Bloomberg)

Japan firms to provide nuclear estimates to Kazakhstan (Reuters)

Kazakh-Chinese company wins tender for drilling operations at Urikhtau field (Interfax)


Kazakh banks may write off as much as 15% of loans, S&P’s Trofimova says (Bloomberg)

BTA Bank has claims against offshore companies affiliated with Eurasia Logistic (Interfax)

National Bank of Kazakhstan: Exchange rates September 30, 2010 (Kazakhstan Today)

Indicators – September 29, 2010 (Reuters)


Kazakh court refuses to issue warrant for minister’s arrest (RFE/RL)

Kazakh-South Korean military ties deepen (UPI)

SOURCE: http://silkroadintelligencer.com/2010/09/30/kazakhstan-daily-news-roundup-september-30-2010/

Kazakhstan Daily News Roundup – July 12, 2010 1

Posted on July 12, 2010 by KazCham


Tengizchevroil claims compliance with contract amid Kazakh claims
(SRI) – Tengizchevroil (TCO) denied allegations of unauthorized overproduction last week, as Kazakhstan’s financial police began an investigation of the oil venture’s activities.

Kazakhstan’s first restructuring fund open for business
(bne) – After a first close on $100 million in June, the Kazakhstan Capital Restructuring Fund (KCRF) will soon start investing into financially distressed companies in the Central Asian country.

Capital building in Kazakhstan
(bne) – Astana seems an empty place in winter when the Siberian cold drives the population inside. But in June the Kazakh capital’s streets are a hive of activity as gangs of workmen frantically resurface roads and prepare new buildings for the dual birthday celebrations for Astana and President Nursultan Nazarbayev.


Russia to lend Kazakhstan $700 million for power plant (SRI)

Saipem gets $1.3 billion of offshore contracts including one in Kazakhstan (Bloomberg)

Lukoil won’t repurchase 50-percent Kazakh JV stake (Reuters)


Negative outlook for Kazakhstan’s banking system maintained (Moody’s)

Kazakhstan’s journey of debt market redemption nears completion (Euroweek – Cbonds.Info)

BTA Bank’s creditors to join Directors Board (Interfax)

Bilfinger Berger manages shopping and entertainment center in Kazakhstan (Property Magazine)

Sembol Insaat to start residential construction project in Kazakhstan (Today’s Zaman)

Kazakh government to finance feasibility study for construction of Arkalyk-Shubarkol railway (Interfax)

WB to allocate $29.2 million for development of technical and vocational education in Kazakhstan (Interfax)

National Bank of Kazakhstan: Exchange rates July 10-12, 2010 (Kazinform)


ENRC Kazchrome to build new HC ferrochrome meltshop (Steel Guru)


Personality cult rises up around Kazakh president (AP)

Kazakhstan shows more style than substance in addressing Kyrgyz crisis (EurasiaNet)

Kazakhstan calls for OSCE conflict prevention mechanism (New Europe)

U.S.-Kazakh deal on ’special cargo’ transit to Afghanistan comes into force (RIA Novosti)


Ravaged Kyrgyz village shows hard road to recovery (AP)

Turkmen leader orders establishment of private media (AFP)

BP CEO visits Azerbaijan amid talk of asset sales (AP)

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

Karachaganak consortium to produce 11 million tons of crude equivalent in 2010 0

Posted on June 01, 2010 by KazCham

(SRI) – Karachaganak Petroleum Operating (KPO) plans to extract 11 million tons of crude oil and gas condensate in 2010, Timur Kulibayev, chairman of the Kazenergy association said.

“Karachaganak Petroleum’s output in 2001 was no more than 4 million tons, while in 2010 it will exceed 11 million tons,” he said, speaking at the 10th summit of the CIS Oil and Gas Summit in Paris.

In 2009 KPO produced 2.295 million tons of gas condensate and 8.607 million tons of oil.

KPO, which is developing the Karachaganak field in western Kazakhstan, is the only major oil and gas project in the country without the participation of the state company KazMunaiGas. The project has been surrounded by controversy in the last months, amid accusations of tax evasion, inflating costs, and environmental violations.

KPO is a jointly owned by U.K.-based BG Group, Italian Eni, both of which hold a 32.5-percent stake, U.S. Chevron, which owns 20 percent, and Russian LUKOil, which has the remaining 15 percent.

SOURCE: http://silkroadintelligencer.com/2010/05/25/karachaganak-consortium-to-produce-11-million-tons-of-crude-equivalent-in-2010/

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