NOV. 1 2016 (The Conway Bulletin) — The Kazakhstan/Russia-led Eurasian Development Bank sent a 7.7b tenge ($23m) loan to KazTransGas- Aimak, the largest gas distributor in Kazakhstan, to upgrade the network in the northern Aktobe region. One of the key objectives of the overhaul is to expand the network to isolated villages that are cut off from the grid.
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(News report from Issue No. 303, published on Nov. 4 2016)
NOV. 4 2016 (The Conway Bulletin) — On a mild slide since mid-August, Roxi Petroleum’s stock price received a bump after the company published encouraging results for its new oil wells on Oct. 28.
The London-based company, which operates the BNG Contract Area in western Kazakhstan near Tengiz, said it has almost completed the initial drilling operations at its new Deep Well 6.
The news, technical in nature, was accompanied by a high volume of trading on the stock market, sending Roxi to 10.5p, a 9% jump on the day of the announcement.
The company now needs to assess the commercial feasibility of the field at different depths. Clive Carver, the company’s chairman, said that the preliminary results at Deep Well 6 were even more encouraging than Roxi’s previously drilled deep wells.
A trio of high-ranking Kazakhs owns Roxi.
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(News report from Issue No. 303, published on Nov. 4 2016)
NOV. 1 2016 (The Conway Bulletin) — Kazakhstan’s flagship carrier Air Astana said it plans to buy 13 new aircrafts due to growing demand. Air Astana will make an offer to buy 11 Airbus and two Boeing planes over the next four years. British BAE Systems owns 49% of Air Astana, while Kazakhstan’s sovereign wealth fund Samruk-Kazyna owns the rest.
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(News report from Issue No. 303, published on Nov. 4 2016)
NOV. 2 2016 (The Conway Bulletin) — Kazakhstan’s Statistics Committee said inflation had risen by 0.6% in October, pushing up prices that had stabilised in previous months. Since the beginning of the year, prices have risen an average of 6.2%. The Central Bank has said that it wants to contain inflation between 6% and 8%. Last year, inflation in Kazakhstan reached double digits.
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(News report from Issue No. 303, published on Nov. 4 2016)
OCT. 30 2016 (The Conway Bulletin) — Israeli PM Benjamin Netanyahu will visit Kazakhstan and Azerbaijan over the next three months, the Israeli government said. Mr Netanyahu has visited Azerbaijan previously during a term as PM in 1997. No Israeli PM has ever visited Kazakhstan. Both Azerbaijan and Kazakhstan are Israel’s biggest oil suppliers.
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(News report from Issue No. 303, published on Nov. 4 2016)
OCT. 28 2016 (The Conway Bulletin) — The Kazakhstan/Russia-led Eurasian Development Bank sent a 4b tenge ($12m) loan to Transtelecom, Kazakhstan’s telecoms network, to improve infrastructure ahead of the upcoming EXPO2017 event in Astana. Earlier in October, Nurali Aliyev, grandson of President Nursultan Nazarbayev, said he had bought 49% of Transtelecom in 2015. State-owned railway company Kazakhstan Temir Zholy owns a 51% stake in Transtelecom.
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(News report from Issue No. 303, published on Nov. 4 2016)
NOV. 2 2016 (The Conway Bulletin) — A court in Almaty sentenced Ruslan Kulekbayev to death for killing 10 people during a shooting spree earlier this year. Like Russia, Kazakhstan has a moratorium on the death sentence and Kulekbayev will instead serve a life sentence. If the moratorium is lifted, though, he will be placed on Death Row. Kulekbayev had previously said that his shooting spree in July, which started with the murder of a prostitute in the southern city of Shymkent, was a personal form of revenge against a society which he felt had rejected him. The court, though, said that he was an Islamic extremist.
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(News report from Issue No. 303, published on Nov. 4 2016)
OCT. 28 2016 (The Conway Bulletin) — Kazakhstan’s state-owned electricity distributor KEGOC said it paid a dividend of almost 25 tenge (7 cent) per share, amounting to 40% of the net profit for the first half of 2016. The dividend is almost three times as large as the one distributed last year. At a shareholder’s meeting, KEGOC also decided to expand its board of directors to eight, appointing two new local managers.
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(News report from Issue No. 303, published on Nov. 4 2016)
NOV. 2 2016 (The Conway Bulletin) — Kazakhstan’s energy minister Kanat Bozumbayev said that the government will not consider proposals to build any new power plants for the next seven years because the country’s energy balance is stable. The issue of building a nuclear or coal-fired power plant has been on and off for years in Kazakhstan. It appears that an economic downturn, which has drained the government’s reserves, has finally snuffed out these plans altogether.
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(News report from Issue No. 303, published on Nov. 4 2016)
NOV. 1 2016 (The Conway Bulletin) — The Caspian Pipeline Consortium, an oil transit route along the northern coast of the Caspian Sea from Kazakhstan’s oil fields to the Russian port of Novorossiysk, said it increased exports in October to around 4m tonnes, a 24% rise compared to last year. For the first 10 months of 2016, exports have reached 35.3m tonnes. If growth projections continue for the next two months, the Consortium, led by US-based Chevron, Russia’s Transneft and Kazakhstan’s Kazmunaigas, will register a record export year in 2016.
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(News report from Issue No. 303, published on Nov. 4 2016)
