OCT. 20 2010 (The Conway Bulletin) — Kazmunaigas and the Korea Gas Corporation (KOGAS) won a tender to develop the Akkas gas field in western Iraq near the border with Syria. The Iraqi government will retain a 25% stake in the project and Kazmunaigas and KOGAS will hold 37.5% each.
ENDS
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(News report from Issue No. 12, published on Oct. 21 2010)
OCT. 8 2010 (The Conway Bulletin) — Kazmunaigas, Kazakhstan’s state energy company, may borrow up to $14b to fund its $20b investment programme instead of raising cash through an IPO, CEO Kairgeldy Kabyldin said. Kazakhstan wants to speed up development of its energy sector and Mr Kabyldin had said Kazmunaigas was considering an IPO.
ENDS
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(News report from Issue No. 11, published on Oct. 14 2010)
OCT. 5 2010 (The Conway Bulletin) — The Kazakh government raised its stake in Kazakhstan miner Kazakhmys, listed in London, to over 26% by buying 11% of the company from chairman Vladimir Kim in a deal estimated at over $1.3b. In a report this year, lobby group Global Witness linked Mr Kim to Kazakh President Nursultan Nazarbayev.
ENDS
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(News report from Issue No. 10, published on Oct. 7 2010)
SEPT. 27 2010 (The Conway Bulletin) — Kazakhstan banned the export of buckwheat, a favourite cereal in the former Soviet Union, because of shortages caused by a summer drought. It also said the drought had hit its grain harvest which would only be 13.5m tonnes this year, the bottom end of previous forecasts.
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(News report from Issue No. 9, published on Sept. 30 2010)
SEPT. 29 2010 (The Conway Bulletin) — Kazakh financial police started an investigation into health minister Zhaksylyk Doskaliyev for abuse of office but a court refused to approve an arrest warrant for him saying that he was too unwell. The financial police said Mr Doskaliyev had faked a heart attack.
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(News report from Issue No. 9, published on Sept. 30 2010)
SEPT. 29 2010 (The Conway Bulletin) — The investment vehicle of Indian steel tycoon Lakshmi Mittal sold its 50% stake in Kazakhstan-based energy company Caspian Investment Resources to Chinese Sinopec for an undisclosed amount. Mr Mittal bought the stake in 2007 for $970m from Russia’s Lukoil which still owns 50% of the company.
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(News report from Issue No. 9, published on Sept. 30 2010)
SEPT. 22 2010 (The Conway Bulletin) — Two blasts ruptured a pipeline carrying gas through Kazakhstan to Russia, the Kazakh emergencies ministry said. Nobody was injured in the blasts although gas exports along the route were suspended. It is unclear what caused the blasts and how gas exports to Russia from Central Asia will be affected.
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(News report from Issue No. 8, published on Sept. 23 2010)
SEPT. 21 2010 (The Conway Bulletin) — Four Chinese bombers and two fighter jets flew into Kazakhstan for China’s first cross border air strike exercise, Chinese state media reported. The China and Russia-led Shanghai Cooperation Organisation is holding a two week long military exercise in Kazakhstan.
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(News report from Issue No. 8, published on Sept. 23 2010)
SEPT. 21 2010 (The Conway Bulletin) — Showing its appetite for foreign expansion, Eurasian Natural Resources Corporation (ENRC), the London-listed Kazakh mining company, bought the 50% stake of Brazilian iron ore mine Bahia Minerals it didn’t already own for $670m. ENRC is one of the world’s biggest ferroalloy producers.
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(News report from Issue No. 8, published on Sept. 23 2010)
SEPT. 14 2010 (The Conway Bulletin) — Kazakhstan agreed to restart oil supplies to Europe through Ukraine’s pipelines after it cut the route in January over a cost dispute. About 8m tonnes of oil per year from Kazakhstan will transit Ukraine.
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(News report from Issue No. 7, published on Sept. 16 2010)
