Tag Archives: Kazakhstan

Kazakhstan operating Tethys revenue drops

NOV. 15 2016 (The Conway Bulletin) — Guernsey-registered Tethys Petroleum posted a 46% decline in revenues in Q3 2016, compared to the same period last year, due to a production slump and a decrease in the price that its Kazakh customers pay for its oil and gas supplies. The company said that average production declined by 57% to 742 barrels/day as production cost increased. In a separate corporate note, the company said that a Kazakh prosecutor had dismissed allegations of misconduct against its subsidiary, but said that its assets remained frozen.

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(News report from Issue No. 305, published on Nov. 18 2016)

 

Kazakh police arrests senior officials

NOV. 17 2016 (The Conway Bulletin) — The deputy head of the government’s Baiterek development corporation, Aslan Jakupov, was arrested with two other people for taking bribe of a around $80,000 over a house-building contract in Pavlodar, media reported. Media said that Aslan Jakupov is the son of a senior Kazakh MP. The case shows just how ingrained corruption is in Kazakhstan. The prosecutor said that Mr Jakupov was suspected of taking a series of bribes from construction companies in deals across the country.

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(News report from Issue No. 305, published on Nov. 18 2016)

 

Kazakhstan plans finger print database

NOV. 16 2016 (The Conway Bulletin) — Kazakhstan intends to build a database holding fingerprints for all its citizens by 2021, media reported quoting the interior ministry. Deputy interior minister Rashid Zhakupov said that the project will cost 36.8b tenge ($107 million) and is designed to speed up border controls. The initiative should also tighten security across the country.

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(News report from Issue No. 305, published on Nov. 18 2016)

Kazakh President travels to East Asia

NOV. 18 2016 (The Conway Bulletin) — Kazakh president Nursultan Nazarbayev continued his tour of East Asia by travelling to Japan from South Korea, his first visit to Tokyo since 2009. On the visit, Mr Nazarbayev concentrated on boosting Kazakh-Japanese relations and also spoke to the Japanese parliament on one of his favourite themes – striving for a nuclear weapons-free world.

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(News report from Issue No. 305, published on Nov. 18 2016)

 

Police arrests another prominent Kazakh journalist

ALMATY, NOV. 15 2016, (The Conway Bulletin) — Police in Astana arrested prominent Kazakh journalist Bigeldy Gabdullin for extortion, a charge that his supporters say is fabricated.

Mr Gabdullin is one of Kazakhstan’s most high-profile and influential journalists. He is executive director of the internet-based media company radiotochka.kz and the editor-in-chief of Central Asia Monitor. Both are renowned for being critical of the government and it policies.

The Pen Club, a London-based organisation that promotes writers’ rights, had previously appointed Mr Gabdullin as its representative in Kazakhstan.

“The organization fears he may have been targeted for his reporting critical of government officials,” it wrote in a press statement. “It is calling for him to be released unless clear evidence of a criminal offence is made available and he is charged and tried promptly and fairly in accordance with international fair trial standards.”

Earlier this year, a court in Astana also sentenced Seitkazy Matayev, a former press secretary to Kazakh president Nursultan Nazarbayev and head of the National Union of Journalists in Kazakhstan, to six years in prison for financial crimes.

Journalists in Kazakhstan said that conditions to operate freely have rarely been as bad. Earlier this year, the government created a new information ministry. One of its first acts was to introduce rules for the media which journalists said are designed to stifle free speech.

At a meeting set up to reassure journalists, Dauren Abayev, the minister for information and communication, said the rules were not designed to crush free speech but instead to improve quality.

“The whole system will be improved. There was done a lot of work before we brought up this bill for discussion,” he was quoted as saying by media.

“It is not a crackdown but instead has been done for the end-user, for the citizens of the country.”

Journalists were less impressed.

A journalist from the vlast.kz website said: “The adoption of new amendments might significantly complicate the work of journalists, and with the recent arrests and verdicts it is hard to imagine how this can end well for journalism in Kazakhstan.”

Another anonymous journalist said that the rules and requirements had gotten so complicated that it was difficult to decipher how to avoid being sanctioned and that the new requirements had undermined independent journalism in Kazakhstan.

“There is almost no independent media left. And indifference of the majority of journalists to this legislation is very demonstrative,” she said.

“They know that nothing depends on them. If they open their mouths, they will be fired. Only those who still write or try to write freely are resisting it.”

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 305, published on Nov. 18 2016)

 

Kazakhstan pays cash for informants

NOV. 17 2016 (The Conway Bulletin) — Kazakhstan’s parliament has approved a new law that will pay out cash rewards to people who give information to the security services which prevents attacks by Islamic extremists, media reported. Kazakhstan has been increasingly worried about the rise in attacks that it attributes to Islamic extremists.

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(News report from Issue No. 305, published on Nov. 18 2016)

 

KMG EP revenue rises in Kazakhstan

NOV. 17 2016 (The Conway Bulletin) — London-traded KMG EP, a subsidiary of Kazakhstan’s state-owned energy company Kazmunaigas, posted a 47% increase in tenge-denominated revenue in the first nine months of 2016, compared to the same period last year, mostly due to the weaker tenge/US dollar exchange rate. Production fell by 1.2%, mainly because of a 6% drop at its PetroKazakhstan subsidiary, which operates in the central Kyzylorda region.

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(News report from Issue No. 305, published on Nov. 18 2016)

 

Stock market: Tethys Petroleum,Olisol

NOV. 18 2016 (The Conway Bulletin) — After hovering at around 1.5p for several months, Tethys Petroleum’s share price reached rock bottom at around 0.9p in early November, following increasingly worse news coming from its operations in Kazakhstan.

Its prospective local partner, Olisol, first missed a payment of 9.8m Canadian dollars ($7.3m) and later cancelled Tethys’ gas sales contract in Kazakhstan. It then pulled out completely from its initial offer to become a major shareholder in Tethys.

In addition, Tethys’ local subsidiaries were raided by the Kazakh police and their asset frozen.

The stock price picked up again this week after new potential investors came forward and a Kazakh court dropped the charges against the local subsidiaries. But with much work still to be done before a financing agreement is reached and with a pending legal dispute in Tajikistan, Tethys is far from having found a safe harbour.

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(News report from Issue No. 305, published on Nov. 18 2016)

 

Kazakh Central bank puts Nazarbayev on bank note

ALMATY, NOV. 15 2016, (The Conway Bulletin) — Kazakhstan’s Central Bank unveiled a new 10,000 tenge bank note depicting a portrait of President Nursultan Nazarbayev, for the first time, next to an image of Astana, the capital city he built on the Kazakh steppe.

Mr Nazarbayev’s critics immediately criticised him for using the bank notes to embellish what they say is already a flourishing personality cult. Daniyar Akishev, head of the Kazakh Central Bank, though, brushed aside complaints and said the bank note was designed to celebrate 25 years of independence from the Soviet Union.

“All Kazakhstan’s achievements since independence are inextricably linked to the first president of the Republic of Kazakhstan, Nursultan Nazarbayev,” he said.

Kazakhstan has been producing eye catching banks notes for years. It won the International Banknote Society’s banknote of the year award in 2012, 2013 and 2014. It’s colourful notes have generally included a historical figure one one side and a modern monument on the other, a meshing together of old and new.

Mr Nazarbayev, president since independence from the Soviet Union in 1991, has worked hard to create a united nation with a Kazakh identity. He has used monuments, slogans and banknotes to achieve this.

Many, though, say that his own personal brand, though, has grown too imposing. In 2011, Almaty city government unveiled a statue outside a park of a suited Mr Nazarbayev sitting on stone.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 305, published on Nov. 18 2016)

 

Kazakhstan’s Kashagan provides oil update

NOV. 14 2016 (The Conway Bulletin) — Kazakhstan’s giant Kashagan oil field produced 1.5m barrels of oil in its first month of operations, official media reported. In daily terms, Kashagan produced an average of 52,600 barrels, far below the minimum threshold of 75,000 barrels/day that the consortium said it needs to produce to keep extraction commercially viable. The Kazakh government had previously said it expects Kashagan to reach an average of 90,000 barrels/day before the end of the year.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 305, published on Nov. 18 2016)