Kazakhstan Chamber of Commerce in the USA

KazCham



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/

KMG EP output up 16 percent in Q1 0

Posted on April 30, 2010 by KazCham

SRI) – KazMunaiGas Exploration and Production (KMG EP), the London-listed subsidiary of the national oil and gas company, said last week its crude oil output grew 16 percent year-on-year in the first quarter of 2010 to 3.2 million tonnes.

“The increase in production results from the acquisition of 33 percent stake in PKI (PetroKazakhstan), which accounts for 487,000 tonnes,” it said in a statement.

Production at the Uzenmunaigas and Embamunaigas amounted to 2.085 million tonnes of oil, a 1.9-percent decline compared to the same period last year.

“The decline in production was mainly caused by the failure to perform well service operations and oilfield equipment repair on time amid a strike by Uzenmunaigas workers over the period from March 4 through March 18,” KMG EP said.

KMG EP said earlier it would produce 13.0-13.5 million tonnes of oil this year, up from 11.5 million tonnes in 2009.



↑ Top