Kazakhstan Chamber of Commerce in the USA


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 – October 26, 2010 0

Posted on October 26, 2010 by KazCham


Kazkommertsbank registers $2-billion debt issue; at risk of breaching debt covenant
(SRI) – Kazkommertsbank, Kazakhstan’s largest bank, has gained UK approval for issuing debt worth up to $2 billion, the bank said in a disclosure statement on the London Stock Exchange Group website on Monday.

Shell cuts second phase Kashagan development costs by $18 billion – newspaper
(SRI) – Royal Dutch Shell Plc has cut the projected cost of the second phase of the Kashagan oil field development program from $68 billion to $50 billion, The Daily Telegraph reported on Monday, citing a senior Kazakh official.

Central bank buys $2.7 billion on open market in 2010 – Marchenko
(SRI) – The National Bank of Kazakhstan has bought $2.7 billion on the foreign exchange market since the beginning of the year, the bank’s chairman Grigoriy Marchenko said on Monday.


KazMunaiGas EP output declines as workers down tools after heroin arrest (Bloomberg)

S&P upgrades Zhaikmunai to B (SRI)

Tethys Petroleum receives state approval for oil reserves at Doris discovery in Kazakhstan (Proactive Investors)

Kazakhstan to build $16-million wind power plant (Interfax)


Kazakhstan to invest $5.4 billion in industrialization in 2011 (SRI)

Lockheed Martin signs $50-million contract with Kazaeronavigatsia (SRI)

Kazakhstan GDP up 7.5% yr/yr in Jan-Sept (Reuters)

EDB to finance Kazakh grain exports to neighboring countries (Interfax)

French-Kazakh company to assemble Eurocopter helicopters at Astana? (AvioNews)

National Bank of Kazakhstan: Exchange rates October 26, 2010 (Kazakhstan Today)

Indicators – October 25, 2010 (Reuters)


Kazakhstan’s presidential race heats up – two years early (EurasiaNet)

SOURCE: http://silkroadintelligencer.com/2010/10/26/kazakhstan-daily-news-roundup-october-26-2010/

Kazakhstan Daily News Roundup – October 21, 2010 0

Posted on October 21, 2010 by KazCham


Karachaganak could be facing new claims – tax official
(SRI) – Kazakhstan may issue new tax claims against Karachaganak Petroleum Operating (KPO), the Western-led joint venture developing the Karachaganak gas condensate field in western Kazakhstan, a Ministry of Finance official said on Wednesday.

Kazakhstan considering KazMunaiGas IPO in London in 2011 – Samruk-Kazyna
(SRI) – Samruk-Kazyna, the state-owned holding and investment company, plans to sell up to 20% of the national oil company KazMunaiGas as early as next year, Bloomberg reported citing Samruk-Kazyna head Kairat Kelimbetov.

Iraq auctions off large gas field to KazMunaiGas, KOGAS
(AFP) – The largest of the three fields up for sale went to a Kazakh and Korean consortium; the next biggest to a Turkish-Kuwaiti-Korean bid; and the smallest to a Turkish-Kuwaiti joint venture.


KMG EP crude output up 15% year-on-year in first nine months of 2010 (SRI)

Tethys Petroleum announces successful closing of $100-million public offering (Marketwire)


Indicators – October 20, 2010 (Reuters)


Korean steelmaker to form material joint venture in Kazakhstan (SRI)

Polymetal plans to acquire 85% interest in Kazakh mine (SRI)

ENRC mines a seam of anger in Katanga (Financial Times)


Irksome to President, Kazakh PM still loved by his people (EurasiaNet)


All Kazakhstan’s citizens must speak Kazakh – Nazarbayev (Interfax)

SOURCE: http://silkroadintelligencer.com/2010/10/21/kazakhstan-daily-news-roundup-october-21-2010/

Kazakhstan Daily News Roundup – October 5, 2010 0

Posted on October 05, 2010 by KazCham

Kazakhstan Daily News Roundup – September 3, 2010 0

Posted on September 03, 2010 by KazCham


BTA Bank completes debt restructuring
(SRI) – BTA Bank, Kazakhstan’s third-largest lender, said on Wednesday it had completed the restructuring of its $16.7-billion debt, reducing its liabilities to $4.2 billion.

A bazaar business
(bne) – Border closures after the Kyrgyz revolution and Kazakhstan’s entry into the Customs Union with Russia have presented challenges for Central Asia’s hundreds of thousands of bazaar vendors and shuttle traders this year. But the region’s multi-billion-dollar bazaar trade has always proved to be enormously flexible.

Vale to explore for Kazakh copper, gold with Tau-Ken Samruk
(SRI) – Vale SA, the world’s largest iron ore producer, will search for copper and gold in Kazakhstan together with Tau-Ken Samruk, the state-owned mining holding, Bloomberg reported on Thursday citing a government official.


Pavlodar refinery net income rises in H1 (SRI)

CPC revises up September crude shipments 5% to 2.7 million tons (Dow Jones – NASDAQ)

Tethys Petroleum up 3.5% on Kazakhstan operations update (Proactive Investors)

Max Petroleum gets extension to Blocks A&E licence exploration period (Oil and Gas Eurasia)

Kazakhstan to develop regulations for operation and safety of oil pipelines – PGO (Interfax)


Halyk to buy back shares from government by end of 2010 – CEO (SRI)

Tau Capital buys stake in Kazakh pharma distributor (SRI)

Kazakh leader urges restraint in public spending (Reuters)

Kazakh grain looks beyond drought to new markets (Reuters – Forexyard)

Kazakh Ministry of Industry terminated 43 subsoil use contracts since January 2010 (Interfax)

Kazakhstan to double exploration funds in 2011 (Interfax)

Kazakhstan to tighten banking controls (RIA Novosti)

Ulf Wokurka appointed new Head of Deutsche Bank Kazakhstan (The Financial)


Kazakhstan hopes KazakhGold conflict will be resolved by September (RIA Novosti)


Kazakhstan to prepare everything for OSCE summit – Nazarbayev (Itar-Tass)

SOURCE: http://silkroadintelligencer.com/2010/09/03/kazakhstan-daily-news-roundup-september-3-2010/

Kazakhstan Daily News Roundup – August 24, 2010 0

Posted on August 24, 2010 by KazCham


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.


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)


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)


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)


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


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 – August 17, 2010 0

Posted on August 17, 2010 by KazCham


Cost control key to Kashagan second phase – Mynbayev
(SRI) – Cost control will be key during the second phase of development of the Kashagan oil field, local news agencies quoted Oil and Gas Minister Sauat Mynbayev as saying.

No provision for maximum depth in Tengzichevroil contract – Mynbayev
(SRI) – The contract under which a Chevron-led consortium is developing the Tengiz oil field does not restrict the depth of its drilling activities, Kazakh Minister of Oil and Gas of Kazakhstan Sauat Mynbayev said on Monday.

Trade surplus up threefold in H1 2010
(SRI) – Kazakhstan’s foreign trade surplus reached $16.7 billion in the first half of 2010, up more than threefold from $4 billion dollars in the first half of 2009 , the State Statistics Bureau said Friday.


Kazakhstan’s oil export duty in force (SRI)

Tethys Petroleum announces updates on operations in Central Asia (Proactive Investors)


Eurocopter ready to set up helicopter production JV in Kazakhstan (Interfax)

Hryvnia, tenge may gain 6% as food prices fuel inflation – UniCredit (Bloomberg)


Kazakhgold’s subsidiary loses appeal to unfreeze bank accounts (SRI)


President Nazarbayev holds a meeting to get ready for OSCE summit in Astana (Interfax)


Kyrgyz army involved in mob violence – right group (AP)

Chevron, Conoco, Bush brother’s company may get Caspian exploration rights (Bloomberg)

SOURCE: http://silkroadintelligencer.com/2010/08/17/kazakhstan-daily-news-roundup-august-17-2010/

Kazakhstan Daily News Roundup – August 16, 2010 0

Posted on August 16, 2010 by KazCham

Kazakhstan Daily News Roundup – July 21, 2010 0

Posted on July 21, 2010 by KazCham


Temirbank to return to profit in 2010 following successful debt restructuring
(SRI) – Temirbank, one of four Kazakh lenders which had defaulted in 2009, expects to post net profit of KZT2-3 billion ($13.6-20.4 million) this year, following the completion of its debt restructuring, its CEO Yerzhan Shaikenov said on Monday.

BTA to issue bonds to complete restructuring
(SRI) – BTA Bank, Kazakhstan’s third largest bank, will place nine bonds issues as part of its debt restructuring plan, the bank said in a statement.

Oil in Kazakhstan may be too rich for tax to deter Chevron – energy markets
(Bloomberg) – Kazakhstan’s oil reserves may be too valuable for an export-tax increase to deter companies from drilling for crude in the former Soviet republic.


Ministry of Oil and Gas revokes 10 subsoil licenses (SRI)

Kazakhstan’s oil grab (The Oil and the Glory)

U.S. Ambassador demonstrates support for Karachaganak group (Dow Jones – NASDAQ)

Tethys Petroleum re-enters Akkulka well to test extension of Doris oil discovery (Proactive Investors)


Kazakhs drop planned 2010 Eurobond sale after $1 billion World Bank loan (Bloomberg)

Kazakh National Bank not to revise inflation forecast for 2010 (Interfax)

Headhunter Antal Russia opens in Almaty (EmergingMarkets.me)

Surrey building Kazakh Earth observation satellite for 2013 launch (Space News)

Cheyne’s Habib guits for Kazakh private equity gig (FINalternatives)

Kazakhstan may spent KZT580 billion on modernization of utilities in 2011-2015 (Interfax)


Kazakhstan secures OSCE summit commitment (EurasiaNet)


Southern Kyrgyzstan forces may have used torture – UN (AFP)

Italy’s ENI turns to Azerbaijan for Nabucco supply (Reuters)

China seeks copper, tungsten, chromium in Central Asia – Ernst & Young (Bloomberg)

SOURCE: http://silkroadintelligencer.com/2010/07/21/kazakhstan-daily-news-roundup-july-21-2010/

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