FEB. 19 2015 (The Conway Bulletin) — Bucking expectations BP said output from its Azeri-Chirag-Guneshli (ACG) oil field in Azerbaijan continued to fall in 2014. BP said oil output at ACG, which is essential to Azerbaijan’s overall output, fell to 31.5m tonnes in 2014 from 32.3m tonnes in 2013.
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(News report from Issue No. 220, published on Feb. 25 2015)
FEB. 11 2015 (The Conway Bulletin) — Swiss television reported that Emin Huseynov, a journalist and critic of Azerbaijan’s President Ilham Aliyev, has been hiding in Switzerland’s embassy in Baku for six months. It said Mr Huseynov took refuge in the embassy to avoid being arrested. Human rights groups criticise Azerbaijan’s recent record.
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(News report from Issue No. 219, published on Feb. 18 2015)
FEB. 11 2015 (The Conway Bulletin) — Kairat Kelimbetov, head of the Kazakh Central Bank, hinted for the first time that he was prepared to allow a gradual devaluation of the tenge. He told Russian media: “We will not allow a one-off shock devaluation and instead will work within the framework of a smooth and flexible exchange rate mechanism.”
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(News report from Issue No. 219, published on Feb. 18 2015)
MARCH 18 2015 (The Bulletin) – Turkmenistan has offered to host talks between the Taliban and the Afghan government, Pakistan’s Express Tribune newspaper reported. Sapar Berdiniyazov, a senior Turkmen diplomat, said: “If the Afghan parties ask us, Turkmenistan is available as a venue for the talks.” If Ashagbat did ever host peace talks it would significantly raise its international profile.
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(News report from Issue No. 223, published on March 18 2015)
>>Slump in global oil prices triggers tax cut>>
FEB. 11 2015 (The Conway Bulletin) — Kazakhstan will slash its oil export duty by 25% to help companies manage a sharp drop in energy prices, economy minister Yerbolat Dossayev said.
The measure is part of a package of proposals designed to help Kazakhstan’s economy weather an increasingly nasty economic downturn. Energy minister Vladimir Shkolnik also said that taxes on miners would be cut soon.
Currently oil exporters pay $80 to ship a tonne of oil out of Kazakhstan. The government will cut this to $60.
It’s a drastic step for Kazakhstan which still relies heavily on oil exports for its revenue. Drastic but, possibly, unavoidable. Oil prices have halved in the past seven months, forcing spending cut backs and budget cuts.
The sharp drop in oil prices also creates another problem for Kazakhstan. It makes the more expensive projects, such as the Kashagan project in the Caspian Sea, unprofitable. Dropping export tax may go some way to addressing this problem.
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(News report from Issue No. 219, published on Feb. 18 2015)
FEB. 13 2015 (The Conway Bulletin) — Russian energy company LukOil said that along with a consortium headed by South Korea’s Hyundai Engineering it had won a contract to build a gas processing plant in the Kandym region of south Uzbekistan. LukOil did not say how much the project would cost but it did say that it was its largest investment in Uzbekistan.
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(News report from Issue No. 219, published on Feb. 18 2015)
FEB. 6 2015 (The Conway Bulletin) — The authorities in Azerbaijan have brought new charges against RFE/RL reporter Khadija Ismayilova, media reported. Ms Ismayilova, a critic of the government, is in pre-trial detention for coaxing a journalist into a suicide attempt. She will now also face charges of tax evasion and embezzlement.
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(News report from Issue No. 219, published on Feb. 18 2015)
FEB. 13 2015 (The Conway Bulletin) — The French authorities have seized properties worth millions of euros belonging to Gulnara Karimova, the daughter of Uzbek president Islam Karimov, media reported. One of the properties was an estate near Paris which had its own opera house. Ms Karimova, once a potential presidential successor, is under house arrest in Tashkent.
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(News report from Issue No. 219, published on Feb. 18 2015)
FEB. 13 2015 (The Conway Bulletin) — Tajikistan’s president Emomali Rakhmon sacked the managing-director at TALCO, the company that runs its aluminium smelter, media reported. No official reason was given for sacking Sadriddin Sharipov from TALCO which generates around 70% of Tajikistan’s foreign earnings.
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(News report from Issue No. 219, published on Feb. 18 2015)
FEB. 11 2015 (The Conway Bulletin) — Tengizchevroil, a Kazakh joint-venture with Chevron, is expected to boost oil output by 42% to 38m tonnes by 2021, Kazakh energy minister Vladimir Shkolnik said. This is important news for Kazakhstan as Tengizchevroil is its biggest single oil producer.
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(News report from Issue No. 219, published on Feb. 18 2015)
