Kazakhstan News
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AFGHANISTAN, 2015/01/20
The richest 1 % are likely to control additional than half of the globe’s total wealth by next year, the charity Oxfam reported in a study released on Monday. The warning about deepening world inequality comes just as the world’s business elite prepare to meet this week at the annual World Economic Forum in Davos, Switzerland.
The 80 wealthiest people in the world all own $1.9 trillion, the statement found, nearly the same all shared by the 3.5 billion people who occupy the bottom half of the world’s gain scale. (Last year, it took 85 billionaires to equal that figure.) And the richest 1 % of the people, who number in the millions, control nearly half of the world’s total wealth, a share that is as well increasing.
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KAZAKHSTAN, 2015/01/16
The U.S. Energy Data Government says it doesn’t expect a considerable increase in Kazakhstan’s gas extraction.
In its Country Analysis Brief statement on Kazakhstan, published on January 14, EIA said Kazakhstan's major petroleum liquids fields such as Karachaganak and Tengiz contain substantial volumes of natural gas, most of which is re-injected into oil wells to improve oil recovery rates.
“At the same time as it comes online, the initial phase of the Kashagan project is expected to marginally boost supplies of dry gas to consumers in Kazakhstan,” the statement said. “However, like the Karachaganak and Tengiz projects, much of the gas produced from Kashagan will be either re-injected into the well to boost liquids recovery or used at the project site to produce electricity.”
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KAZAKHSTAN, 2015/01/16
Kazakhstan increased steel production by 14 % to 3.993 million metric tons in Jan.- Dec. 2014 compared to the same period of 2013, the Statistics Committee under Kazakh National Economy Ministry reported.
The country increased ferroalloys production by 0.5 % to 1.715 million metric tones, flat rolled steel production - by 11.4 % to 2.537 million metric tones and galvanized steel production - by 2.6 % to 527,000 metric tones in the reporting period.
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CHINA, 2014/12/19
Kazakhstan wants to make maximum use of its port of Lianyungang in China with container trains travelling between China and Europe.
A framework agreement, signed in Astana by the KTZ-Express JSC and the Lianyungang port, will be a basis for this.
The agreement was inked following a conference of the Kazakhstan-China Business Council to strengthen and improve international transportations via the new Eurasian continental transport corridor
Samruk-Kazyna, a wealth fund and joint stock company in Kazakhstan, said the agreement stipulates arranging travels of container trains on a regular basis on the China-Europe and China-Central Asia routes with the Lianyungang port’s direct participation, inclunding the creation of favorable conditions for transportations and boosting transit.
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KAZAKHSTAN, 2014/12/18
The Kazakh government, North Caspian Operating Company (NCOC) and members of the production sharing agreement for the Kashagan project have settled a number of industrial, financial and environmental issues raised over the completed few years, NCOC told Trend.
“The agreement was signed recently in Astana by the energy minister, representatives of NCOC and companies participating in the PSA on the project,” the company said. “Terms of the agreement are confidential.”
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GEORGIA, 2014/12/17
Georgia’s Foreign Direct Investments picked up the pace in the third quarter of 2014, according to the country's national statistics office Geostat.
The service revealed that the in general all of the foreign investments in Georgia grew by 99 % in the third quarter of 2014 compared to the same period in 2013.
The preliminary figures released by the service on December 9 revealed Georgia’s FDI to stand at $508 million during the reported period.
The fields of economy and industry that gained the majority offshore investments are construction, transport and communication, manufacturing, finance, energy, hotels and restaurants.
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CHINA, 2014/12/17
Kazakhstan’s national oil and gas company KazMunaiGas (KMG) and the China National Petroleum Corporation (CNPC) will jointly work on increasing the oil recovery and utilization of the accompanying gas at fields in southern Kazakhstan.
The agreement on the expansion of technical cooperation in the oil and gas sector between CNPC and KMG will serve as a basis for this. The agreement was inked in Astana next a conference of the Kazakhstan-China Business Council with the participation of heads of governments of the two nations.
The document stipulates that the KMG and CNPC will expand technical cooperation in the oil and gas industry, inclunding in boosting the oil recovery of the oil fields in the ‘South Turgai’ basin in Kazakhstan.
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KAZAKHSTAN, 2014/12/17
The Shanghai Cooperation Organization (SCO) is gaining political weight and economic power, said the Kazakh President Nursultan Nazarbayev Dec. 15 at a conference with the heads of government of the SCO member states.
Nazarbayev said the conference of the heads of governments is being held in Kazakhstan for the third time, adding, “The organization [SCO] is gaining political weight and economic power.”
He said the SCO’s voice today is heard everywhere.
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KAZAKHSTAN, 2014/12/14
KazMunaiGas Exploration Production JSC (production subsidiary of KazMunaiGas NC JSC – KMG EP) in 2015 will reduce its production costs by 14 %, the company said.
"Capital expenditures in 2015 are planned at $115 billion KZT (about $621 million), which is 14 % lower than the planned expenditures in 2015, according to the business plan approved a year before," the company reported.
Cost reduction is planned mainly at the cost of decline of investment , which will not affect the level of production. "In addition, the company intends to reduce the cost for infrastructure projects, inclunding at the cost of the transfer of some long-term projects of the modernization program at a later date," the company reported.
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KAZAKHSTAN, 2014/12/06
Kazakhstan plans to implement over 30 investment projects in mining and metallurgical sector in 2015-2017.
The plan was put forward in a letter from Kazakh Deputy Investment and Development Minister Yerzhan Sagadiyev to the participants of the 2nd Annual CIS Sustainable Mining Forum in Astana on December 2.
"We plan to implement 31 investment projects worth 1.3 trillion tenges (180.87 tenges = $1) in mining and metallurgical sector until 2018," he said in his message.
