Dmitry's Feed
Aug 8, 2011

KazMunaiGas says Strike may cut EP 2011 output 6 pct

ALMATY, Aug 8 (Reuters) – KazMunaiGas Exploration Production
(KMGq.L: Quote, Profile, Research, Stock Buzz), Kazakhstan’s No. 2 oil producer, said on Monday it can
see a workers’ strike cutting its output cut by some 800,000
tonnes, or 6 percent of its consolidated production in 2011.

“Oil exports can decrease by an average of around 120,000
tonnes a month until a normal production process is restored,”
the company said in written answers to questions by Reuters.

Jul 7, 2011

Strike and blackouts cut KazMuniGas EP oil output

ALMATY, July 7 (Reuters) – KazMunaiGas Exploration
Production (KMGq.L: Quote, Profile, Research, Stock Buzz) on Thursday blamed emergency power cuts and
a strike as it reported a 3 percent year-on-year fall in crude
oil output in the first half of this year.

London-traded KMG EP, majority owned by Kazakh state oil and
gas firm KazMunaiGas , said that according to
preliminary data it produced 6.31 million tonnes of crude in
January-June, 216,000 tonnes less than the first half of 2010.

Jun 17, 2011

Spain’s Repsol to explore Kazakh oilfield

ASTANA, June 17 (Reuters) – Spanish energy company Repsol
(REP.MC: Quote, Profile, Research) will join KazMunaiGas (KMG) in exploring an oil block
in western Kazakhstan and could offer the Kazakh state company a
role in its international projects, KMG’s head said on Friday.

The companies will explore the Adai block in Atyrau region,
KMG Chief Executive Kairgeldy Kabyldin told reporters after
signing a memorandum of understanding with Nemesio
Fernandez-Cuesta, executive director of Repsol’s Upstream unit.

Jun 15, 2011

On the Caspian shore, a tale of two Turkmenistans

AVAZA, Turkmenistan (Reuters) – Turkmenistan’s all-powerful leader promises that, one day soon, he will build a Las Vegas on the windswept shores of the Caspian Sea.

Illuminated by distant gas flares, thousands of construction workers toil through the night to build the next stage of Avaza: a fantasy resort built on the reclusive Central Asian nation’s fabulous energy riches.

Jun 13, 2011

China builds Kazakh ties, bypasses USD with FX swap

ASTANA, June 13 (Reuters) – China, expecting trade with
Kazakhstan to double by 2015, signed a currency swap deal worth
$1 billion with its Central Asian neighbour on Monday and agreed
a $1.5 billion loan to copper miner Kazakhmys (KAZ.L: Quote, Profile, Research, Stock Buzz).

The three-year currency swap deal, the latest in a series of
bilateral agreements between China and its trading partners, was
agreed by the countries’ central banks during Chinese President
Hu Jintao’s seventh visit to Kazakhstan.

Jun 10, 2011

Rights group criticizes Kazakhstan over extraditions

ALMATY (Reuters) – Human Rights Watch Friday criticized Kazakhstan for extraditing 28 Uzbeks it said were likely to face torture at home.

“The Kazakh government has deliberately and forcibly sent individuals back to Uzbekistan where they face likely torture and persecution,” Rachel Denber, HRW’s Europe and Central Asia deputy director, said in a statement.

Jun 3, 2011

Kazakh Halyk Bank Q1 net income 6.4 pct down yr/yr

ALMATY, June 3 (Reuters) – Halyk Bank HSBK.KZ,
Kazakhstan’s second-largest lender by assets, said its net
income fell by 6.4 percent in year-on-year terms to 10.6 billion
tenge ($72.8 million) in the first quarter of 2011.

Halyk (HSBKq.L: Quote, Profile, Research, Stock Buzz) said on Friday its first-quarter net income
grew by 4.2 percent compared with the fourth-quarter of 2010.

May 26, 2011

Turkmenistan urged to commit gas for Nabucco

TURKMENBASHI, Turkmenistan, May 26 (Reuters) – Turkmenistan
must commit this year to building a trans-Caspian gas pipeline
in order to join a supply network designed to cut Europe’s
dependency on Russian fuel, an industry source said on Thursday.
An undersea pipeline to deliver gas to Azerbaijan and onward
would allow Turkmenistan, holder of the world’s fourth-largest
natural gas reserves, to become a major supplier to European
markets via the planned Nabucco pipeline.
A senior industry source familiar with the Nabucco project,
speaking on condition of anonymity, said Turkmenistan should
offer a firm proposal to supply gas before partners in the
project ink a deal with the Shah Deniz consortium in Azerbaijan.

“The message is that the window of opportunity for defining
the size of Nabucco will close at the end of this year,” the
source said. “This is a message which is more or less aligned
with the Shah Deniz project.”

May 25, 2011

Turkmen gas field to be world’s second-largest

TURKMENBASHI, Turkmenistan, May 25 (Reuters) – The British
auditor of Turkmenistan’s South Iolotan gas field said on
Wednesday that its forthcoming report on the deposit would
reveal it to be comfortably the world’s second-largest.
Gaffney, Cline & Associates (GCA) expects to present a
revised audit to Turkmen President Kurbanguly Berdymukhamedov in
mid-June that will show South Iolotan to be second only in size
to the South Pars field in neighbouring Iran.

“It appears that the South Iolotan field is now easily the
world’s second-largest gas field in terms of gas-in-place,”
Peter Holding, GCA general manager for Russia and the Caspian,
told an energy conference.

May 18, 2011

Kazakh bank BTA asks UK to arrest former head

ALMATY, May 18 (Reuters) – BTA BTAS.KZ, Kazakhstan’s No. 3
bank by assets, has asked Britain to arrest its former head
Mukhtar Ablyazov, from whom it seeks billions of dollars in
compensation for alleged misappropriation.

One of Kazakhstan’s richest men, Ablyazov was part of Kazakh
President Nursultan Nazarbayev’s inner circle and ran BTA, the
country’s largest bank at the time, before he fell out with the
state and fled to London in 2009.