Tag Archives: business

BP completes Azerbaijani ACG repairs

NOV. 28 2014 (The Conway Bulletin) – BP said it had completed one-month long planned maintenance work on its Azeri, Chirag and Guneshli (ACG) on time. Azerbaijan has been pressuring BP to improve output at its ACG fields. ACG has been the main source of its oil revenues although this has flagged.

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(News report from Issue No. 211, published on Dec. 3 2014)

China boosts Tajik gold

DEC. 1 2014 (The Conway Bulletin) – In the first eleven months of this year Tajikistan equalled its top post-independence annual production figure for gold, the country’s Asia-Plus news agency reported.

Like its record cement production figure, posted earlier this year, the increase is due to Chinese investment.

The yield of 3 metric tonnes (mt) is modest by regional standards — neighbouring Uzbekistan produces 90 mt/year and Kyrgyzstan 10-20 mt/year — but it’s still important to Tajikistan, one of the most impoverished countries in the world.

Chinese-Tajik Zeravshan Gold Company is responsible for over two thirds of Tajikistan’s total gold output. And this underlines China’s increasingly tight grip over Tajikistan’s economy. Without China, Tajikistan’s gold and cement industries would be in a far more perilous state.

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(News report from Issue No. 211, published on Dec. 3 2014)

Kazakhstan keen on shale gas?

DEC. 1 2014 (The Conway Bulletin) – Kazakh PM Karim Massimov said Kazakhstan wanted to develop shale gas sites, industry website shaleenergyinsider.com reported. The website quoted Mr Massimov talking at an energy conference. If Mr Massimov acts on his statement it would mark a change in Kazakhstan’s energy policy.

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(News report from Issue No. 211, published on Dec. 3 2014)

Kazakh Halyk Bank profit rises

DEC. 2 2014 (The Conway Bulletin) – Halyk Bank, Kazakhstan’s second biggest lender, said profits for the first nine months of the year had risen by around two-thirds, mainly because of an increase in the number of loans it has given out. The results are good news for Kazakhstan’s economy which has been under pressure from falling oil prices.

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(News report from Issue No. 211, published on Dec. 3 2014)

Gas blast kills seven in Kazakhstan

NOV. 30 2014 (The Conway Bulletin) – A gas explosion in a block of flats in the city of Taldykorgan in south Kazakhstan killed at least seven people, media reported. Media quoted the emergency services as saying improper use of gas cylinders had caused the explosion. The accident highlights poor infrastructure used in Kazakhstan.

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(News report from Issue No. 211, published on Dec. 3 2014)

Kazakhstan supplies power to Kyrgyzstan

DEC. 2 2014 (The Conway Bulletin) – Under a deal thrashed out last month, Kazakhstan started supplying Kyrgyzstan with electricity, media reported. Kyrgyzstan has been desperate to secure electricity because of a dry summer that has left reservoirs feeding hydropower sites low on water.

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(News report from Issue No. 211, published on Dec. 3 2014)

Uzbek President travels to Astana

NOV. 25 2014 (The Conway Bulletin) – Uzbek President Islam Karimov made a rare trip to Astana where he met Kazakh leader Nursultan Nazarbayev to discuss plans by Kyrgyzstan and Tajikistan to build extra hydropower capacity, an issue that has threatened to destabilise the region. Uzbekistan relies on water from Tajikistan and Kyrgyzstan to feed its important cotton fields.

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(News report from Issue No. 210, published on Nov. 26 2014)

 

Kazakhstan-Turkmenistan-Iran rail to open

NOV. 25 2014 (The Conway Bulletin) – A new railway running from Kazakhstan, through Turkmenistan to Iran will open on Dec. 3, Iran’s minister for urban development, Abbas Akhoundi, said. The route is an important part of a new north-south Silk Road. Turkmenistan wants to encourage trade across its territories.

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(News report from Issue No. 210, published on Nov. 26 2014)

 

Swiss president visits Tashkent

NOV. 21 2014 (The Conway Bulletin) – As part of a tour of Central Asia, Swiss President Didier Burkhalter travelled to Uzbekistan. This was a rare trip to Uzbekistan by a Western leader, who are keen to avoid the Uzbek stigma of human rights abuses.

In a meeting, Uzbek President Islam Karimov and Mr Burkhalter discussed “mutual ties, the situation in the world, bilateral business relations and international organizations’ roles,” the official Uzbek media dryly report.

Although little official information is available about Mr Burkhalter’s visit, it is clear the Uzbek side had a few topics to discuss with him.

One issue was the $1b sitting in Swiss bank accounts that allegedly belongs to Gulnara Karimova, the Uzbek president’s daughter. Swiss banks froze that money after prosecutors launched a criminal investigation into suspected money laundering activities.

Ms Karimova is believed to be under house arrest in Tashkent, while other people the Swiss prosecutors wanted to interview have been jailed by Uzbek courts. The Uzbek side will probably use the Swiss president’s visit to attempt to salvage the frozen assets.

Another matter the official Tashkent would have been eager to discuss is the parliamentary elections in December, because Mr Burkhalter is also OSCE Chairperson- in-Office. The OSCE’s Office for Democratic Institutions and Human Rights (ODIHR) sent a mission to Uzbekistan late October to assess elections monitoring needs. The ODIHR assessors recommend sending a limited observation mission due to a lack of competition.

Perhaps to incline Mr Burkhalter toward benevolence, President Karimov signed a decree on introducing amendments to a Swiss-Uzbek agreement on avoiding double taxation.

Azerbaijan welcomes Total targets

NOV. 20 2014 (The Conway Bulletin) – French oil major Total expects to start gas production at the Apsheron field by 2021, media reported by quoting Eric Meyer, Total’s planning development manager. The announcement will no doubt be welcomed by Azerbaijan which wants its energy production credentials increased.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 210, published on Nov. 26 2014)