Kazakhstan News
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KAZAKHSTAN, 2015/10/14
The Scottish oil field services company Wood Group will provide the Tengizchevroil crude storage capacity project at the Tengiz field with detailed engineering, control hardware and remote instrument enclosures in order to help increase its storage capacity.
Wood Group will assume control over the work at the Tengiz field as part of a multi-million dollar arrangement, which the group had won in Kazakhstan from US civil engineering outfit Bechtel.
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CHINA, 2015/10/14
Astana and Beijing signed an agreement on provision of free of charge technical assistance to the armed forces of Kazakhstan.
Kazakhstan’s Defense Ministry said that the agreement was signed during a conference between Kazakhstan’s Defense Minister Imangali Tasmagambetov and China’s Defense Minister Chang Wanquan.
The document stipulates the transfer of bolster-type tractors with trawls and loading-unloading platforms by China to Kazakhstan’s armed forces.
The significant aspect of cooperation between the defense ministries of Kazakhstan and China lies in a joint training and experience exchange in capacity building for countering asymmetric threats (training of appropriate forces units), said the message.
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KAZAKHSTAN, 2015/10/14
The Organization of the Petroleum Exporting Nations forecasted the decrease in Kazakhstan’s oil production by 20,000 barrels per day in 2015 to average 1.62 million barrels per day.
As compare with its September oil market statement, OPEC predicted that Kazakhstan’s oil production will decrease by 10,000 barrels per day in 2015.
OPEC said that Kazakhstan’s August output declined compared to July by a steep 86,000 barrels per day to 1.51 million barrels per day, the lowest level since October 2014. This was due to a 0.1 million barrel per day decline in Tengiz field output.
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KAZAKHSTAN, 2015/09/24
The housing sector has had a positive impact on the construction industry in Kazakhstan, according to the Ranking.kz analytical service.
Kazakh construction companies have added an all-time high of roughly 719,000 cubic meters of new residential property in August. This amounts to a 30.5 % increase in new residential property compared to last August, adding 3,259 apartments and 2,391 single-family houses on a turnkey basis.
The top three areas for housing construction are Astana, Almaty and the Almaty region, while the highest increase rate was seen in East Kazakhstan, West Kazakhstan, and the Akmola region.
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KAZAKHSTAN, 2015/09/24
Exim's IDRs are based on the bank's Viability Rating (VR), which reflects a narrow franchise, weak investment quality, high reliance on shareholders for funding and modest profitability. The ratings as well take into account currently solid capital ratios, the statement said.
Exim is a part of a broader business of its shareholders, who are as well majority owners of one of the major private electricity companies in Kazakhstan, Central-Asian Electric-Power Corporation (CAEPCo, BB-/Outlook Negative). Fitch does not explicitly factor in support from CAEPCo into Exim's ratings, but the bank's credit profile benefits from the shareholder's ability to originate business for the bank on both sides of its balance sheet.
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CHINA, 2015/09/18
The total all of the Kazakh-Chinese projects to be implemented before the end of 2015 will reach $50 billion, according to a statement made by the Director of the Kazakhstan Institute of Strategic Research, Yerlan Karin, at the Kazakhstan-China Expert Forum on September 16.
"As Chinese colleagues say, by the end of the year the total all of contractual transactions will reach $45-$50 billion,” he said.
The expert as well noted that the delivery of goods and cargo from the Kazakh-Chinese border to the Caspian seaport of Aktau has reduced by three days, which allows for increasing the turnover by around 40 %.
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KAZAKHSTAN, 2015/09/18
Kazakhstan increased the volume of fish production in order to diversify its export supplies to the European and CIS nations.
The Kazakh company on the fish production in the Atyrau region has recently signed agreements with their partners from Azerbaijan, Uzbekistan, Ukraine, Georgia, and France to prevent the possible large losses.
The current instable economic situation and as a result the ruble decline has significantly influenced on the export of fish from Kazakhstan.
The company exported about 2,000 tons of dried or frozen carp, bream, roach, pike, catfish, and pike-perch fillet over the previous year, but presently this figure has double decreased.
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KAZAKHSTAN, 2015/09/17
A new study identifies challenges and opportunities to help Kazakhstan and its regions to diversify its economy and boost its export capabilities.
The study, “Diversification of Kazakhstan’s economy: a capability-based approach”, was produced by the strategy and public policy advisory firm Whiteshield Partners and funded jointly by the government of Kazakhstan and the EBRD’s Shareholders’ Appropriate Fund.
Launched in Astana on 17 September, the study examines factors that support the development of knowledge-based export capabilities in each of Kazakhstan’s 16 regions. Analysing over 10 years of detailed regional export data for each sector, the statement compares the development trajectories of the regions and identifies region-specific policy priorities.
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KAZAKHSTAN, 2015/09/16
Kazakhstan's Investment and Development Ministry jointly with the World Bank have officially announced the launch of a project titled the "Promotion of Energy Efficiency in Kazakhstan".
A grant worth $21.7 million was allocated to the project by the Swiss Agency for Development and Cooperation through the Trust Fund administered by the World Bank.
The project is aimed at improving the energy efficiency of public and social facilities, inclunding improving the institutional framework for energy efficiency, particularly the establishment of the mechanism of financing of projects in the field of energy conservation.
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KAZAKHSTAN, 2015/09/16
This remark was made by the country's Deputy National Economy Minister Marat Kusainov during the presentation of the draft national budget for 2016-2018 in the Majilis of Parliament on September 15, local media reported.
“The oil production estimate by the Ministry of Energy in 2016 will all to 77 million tons, followed by an increase to 92 million tons in 2020, which is lower than the before forecasted data by about 3.8 million tons and 12 million tons respectively,” he said.
Kazakhstan's three-year budget project is based on the estimate of socio-economic development for 2016-2020 approved by the country's Cabinet of Ministers in August 2015.
