Category Archives: Uncategorised

PetroKazakhstan’s production shrinks in H1

JULY 28 2016 (The Conway Bulletin) — London-traded upstream oil company KMG EP said its H1 2016 production shrank by 0.7% to 6.1m tonnes of oil. In particular, the company said that production slowed significantly at PetroKazakhstan’s operations in central Kazakhstan. KMG EP owns a 33% stake in PetroKazakhstan, while China’s CNPC owns the rest. KMG EP is a subsidiary of state-owned energy company Kazmunaigas.

ENDS

(News report from Issue No. 291, published on Aug. 1 2016)

EBRD considers stake rise in Azerbaijan

JULY 22 2016 (The Conway Bulletin) — The European Bank for Reconstruction and Development (EBRD) said it will postpone its decision to increase its stake in Holcim Azerbaijan, a cement company. The EBRD already owns a 10% stake in the company. Switzerland-based LafargeHolcim (66%), Germany’s Holcim (10%) and other private investors (14%) own the rest of the company. The EBRD said it will wait until September to take a decision.

ENDS

(News report from Issue No. 291, published on Aug. 1 2016)

Kazakh miner’s production grows

JULY 22-28 1 2016 (The Conway Bulletin) — Kazakhstan miner KAZ Minerals posted a 43% growth in output in H1 2016, compared to the same period last year, to 52,600 tonnes of copper cathode. KAZ Minerals also said it cut costs for the development of its Aktogay project by 4.4% to $2.2b. Together with Bozshakol in northern Kazakhstan, the Aktogay project, located in eastern Kazakhstan, is KAZ Mineral’s main copper asset.

ENDS

(News report from Issue No. 291, published on Aug. 1 2016)

Kyrgyzstan to challenge Centerra share issue

BISHKEK, JULY 26 2016 (The Conway Bulletin) — The board of Kyrgyz miner Kyrgyzaltyn will dispute Centerra Gold’s issue of new shares to buy US-based Thompson Creek because it reduces its own overall stake in the company, which owns its biggest gold mine – Kumtor.

This month, the Canadian miner, 32% owned by Kyrgyzaltyn, said that it would buy Thompson Creek for the equivalent of $1.1b, in cash and new shares.

Kyrgyzaltyn had already said it disagreed with the transaction and that it voted against it during the Centerra board meeting.

As part of the financing for the acquisition of Thompson Creek, Centerra Gold issued new shares which analysts said will reduce Kyrgyzaltyn’s 32% stake in Centerra to approximately 28.8%.

Now the local language service of US-funded Radio Free Europe/Radio Liberty has reported that senior Kyrgyz government officials are considering how to dispute the move, setting the scene for more disagreements between the Toronto-based company and Kyrgyzstan.

The two have been locked in a protracted row for years.

Kyrgyzsan wants to increase its direct ownership of the Kumtor mine, the country’s largest economic asset.

ENDS

(News report from Issue No. 291, published on Aug. 1 2016)

Remittances in Tajikistan fall, again

JULY 25 2016 (The Conway Bulletin) — Tajikistan’s Central Bank said that the flow of remittances from abroad fell by 22% in the first half of 2016, compared to the same period last year. The Bank said that a sustained recession in Russia has slashed the value and the volume of remittances. Tajikistan is one of the world’s top remittance-dependent countries. Tajikistan and the rest of the region have been having to cope with the fall from a collapse in oil prices and a recession in Russia.

ENDS

(News report from Issue No. 291, published on Aug. 1 2016)

Georgia sign gas deal with Iran

JULY 26 2016 (The Conway Bulletin) — Iran signed an agreement with Georgia to export gas via Armenia, Iranian official media reported. In February, Georgia had said that gas supplies from Iran would only be considered in the long term, as Azerbaijan was able to export enough gas to meet Georgia’s growing demands. With Azerbaijan’s production declining and Iran’s export to Armenia due to increase, Georgia could now find another supplier in Iran.

ENDS

(News report from Issue No. 291, published on Aug. 1 2016)

Yandex taxi to expand in Georgia and Kazakhstan

JULY 27 2016 (The Conway Bulletin) — Internet taxi service Yandex Taxi said it plans to enter the Georgian market and expand its presence across Kazakhstan from its base in Almaty. Yandex Taxi entered the Armenian market in July, triggering complaints of price dumping from the traditional taxi association in Yerevan. In June, mobile-based Uber started operations in Astana.

ENDS

(News report from Issue No. 291, published on Aug. 1 2016)

Gas tariff rise in Kazakhstan

JULY 26 2016 (The Conway Bulletin) — The Kazakh anti-monopoly agency approved a 39% increase in the top rate it can charge for pumping gas through its pipeline network to 1,769 tenge/1,000 cubic metres ($5), in a move that will impact domestic and industrial gas prices. The new tariff ceiling will come into effect on Sept. 1 and will be valid until 2020. Gas price rises are a sensitive issue. Governments across the region have been raising prices slowly, moving away from Soviet subsidies. This, though, has frustrated people and triggered anti government protests.

ENDS

(News report from Issue No. 291, published on Aug. 1 2016)

Blast at Azerbaijani arms plant kills at least 2 people

JULY 26 2016 (The Conway Bulletin) — An explosion killed at least two workers and injured at least 22 at an arms factory near Baku.

Officially the number of dead and injured from the blast has not risen since the initial assessment but workers said that many more could have been trapped inside.

Azerbaijan’s ministry of defence, which owns the factory in the town of Shrivan, said: “Sparks from the last batch of military products earmarked for disposal caused the explosion.”

The State Prosecutor said it was evaluating whether to open a criminal investigation.

Azerbaijan buys most of its armaments from Russia, where it also sends some of its old arms for disposal. Over the last few years, though, it has developed its own weapons manufacturing sector.

ENDS

(News report from Issue No. 291, published on Aug. 1 2016)

Two Kazakhs arrested for spreading rumours

ALMATY, JULY 27 2016 (The Conway Bulletin) — Kazakh police arrested two people for spreading false information of a major terrorist attack in Almaty via Whatsapp after a lone gunman killed five people earlier this month.

The authorities have said they will take a tough attitude against people who spread rumours. Many Kazakhs are signed up to a series of Whatsapp news groups through which they share information.

On July 18, after a gunman killed eight people in Almaty, security forces ordered people to stay inside. A series of Whatsapp messages about the deteriorating scenario filled the news vacuum.

Ruslan, a 23-year-old Almaty resident, explained.

“I received many pictures and voice messages on my chat groups on Whatsapp,” he told The Conway Bulletin. “But in the end most of that information from voice messages turned out to be fake.”

An interior ministry spokesperson said a 20-year old woman was arrested for spreading false information about hostages being taken at a shopping mall and another man was arrested for spreading rumours that hundreds of armed men were marching through an Almaty suburb.

In February 2014, rumours spread about the bankruptcy of three of Kazakhstan’s biggest banks, triggering a run on the banks and a shortage of cash. In response, a new law came into force making the spread of false information punishable by 10 years inprison.

ENDS

(News report from Issue No. 291, published on Aug. 1 2016)