Kazakhstan News
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KAZAKHSTAN, 2014/12/05
Kazakhstan’s Initial Deputy Energy Minister Uzakbai Karabalin has rejected as baseless any reports on a possible increase of gasoline price up to 300 tenges (181.09 tenges = $1) per liter.
“Of course, there may be some increase in the price but not so much,” he noted on December 3.
The deputy minister as well said today a number of companies supply oil to the plants, inclunding KazMunaiGas, OzenMunaiGas, "MangistauMunaiGas, PetroKazakhstan and others. All they supplies necessary oil for processing.
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KAZAKHSTAN, 2014/11/19
Kazakhstan re-launched copper smelting plant of Kazakhmys Smelting company in Karaganga region, the official web site of the regional authorities said.
The plant's work was halted on September 1, 2013 in connection with the reconstruction.
The plant targets to produce 3,000 metric tons of copper in November and about 9,000 metric tons of copper in December.
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KAZAKHSTAN, 2014/11/19
A decrease in the world oil prices expected by late 2014 will not have a significant impact on the Kazakh economy, the country’s National Economy Ministry told Trend Agency on November 17.
"It should be stressed that despite the decline in oil prices in October, the average annual oil price amounted to $106.6 dollars per barrel in the initial nine months of this year,” the ministry said. “In case of further decrease in oil price up to $80 per barrel by late 2014, the average annual price will remain at $100 per barrel. The budgeted average annual price of $95 per barrel according to the updated estimate of the socio-economicdevelopment for 2014-2018 should be taken into account.”
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KAZAKHSTAN, 2014/11/12
The International Rating Agency Fitch Ratings affirmed Kazakhstan's Long-term foreign and local currency Issuer Default Ratings (IDRs) at 'BBB+' and 'A-' respectively, the agency reported .
The issue ratings on Kazakhstan's senior unsecured foreign currency bonds are as well affirmed at 'BBB+'. The Outlooks on the Long-term IDRs are Stable. The Country Ceiling is affirmed at 'A-' and the Short-term foreign currency IDR at 'F2'.
The affirmation of Kazakhstan's IDRs with a Stable Outlook reflects the following key rating drivers:
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KAZAKHSTAN, 2014/11/08
The new pipes for Kazakhstan's giant Kashagan field in the Caspian Sea is planned to be delivered till the end of the initial quarter of 2015.
The news was announced by the country's Deputy Energy Minister Uzakbai Karabalin.
"The pipes will be delivered from presently on," Karabalin told reporters. "The pipes will be probably delivered before the end of the initial quarter of 2015 so that it would be possible to work. Repair work at the field will be completed in 2016, as it was before reported."
He as well noted to date, the contractors have bought about 45 kilometers of pipes.
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KAZAKHSTAN, 2014/11/08
OPEC has slightly decreased its before estimation of Kazakhstan’s oil production for 2014, 2015 and 2016, OPEC's newly published World Oil Outlook 2014 statement said.
Kazakhstan's oil and NGL production is presently forecasted to remain at the level of 1.6 million barrels per day (bpd) in 2014, 2015 and 2016 as it was in 2013 with an increase to 1.9 million bpd in 2017, 2018 and 2019 in the reference case.
Last year, OPEC forecasted that Kazakhstan's oil and NGL production will increase to 1.7 million bpd in 2014, to 1.8 million bpd in 2015 and to 1.9 million bpd in 2016-2018.
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KAZAKHSTAN, 2014/11/06
21 years passed from the date of putting the national currency - manat into circulation in Turkmenistan. It was put into circulation on November 1 and became a reliable and robust attribute of the country's statehood, Turkmen dovlet khabarlary national news service reported.
The stability of the manat is ensured by a high level of Turkmenistan's economic development, the statement says.
"This stability is the result completed by regulating the virtually unchanged ratio between the purchasing power of the manat and foreign currencies, that is, the constancy of the exchange rate," the statement says.
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KAZAKHSTAN, 2014/11/06
The international rating agency Fitch Ratings has affirmed Kazakhstan-based National Atomic Company Kazatomprom's Long-term foreign currency Issuer Default Rating (IDR) at 'BBB-' with stable outlook, the rating agency reported on November 5.
The company's Long-term IDR affirmed at 'BBB-' with stable outlook, Short-term IDR affirmed at 'F3', Foreign currency senior unsecured rating affirmed at 'BBB-'.
"The ratings reflect Kazatomprom's standalone profile due to limited links with its ultimate parent - Republic of Kazakhstan (BBB+/ Stable). Its standalone profile primarily reflects the company's leading position in world uranium mining, the fact that most of its uranium production volumes have been contracted over the medium term, and its competitive cash costs compared with those of its world peers," the agency said.
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KAZAKHSTAN, 2014/11/03
Kazakh citizens may visit Argentina without a visa for up to 30 days from November, the Kazakh foreign ministry said.
The similar entry rules apply to Argentine citizens arriving in Kazakhstan.
An agreement on mutual trips of citizens entered into force between the governments of Argentina and Kazakhstan on November 1, the ministry reported.
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KAZAKHSTAN, 2014/10/18
A sanction war between Russia and the West has long went beyond these players and touched their partners, which have no direct relation to the conflict in Ukraine.
These nations are often forced to reconsider their own models of traditional economic projects and think about new logistics schemes.
Kazakhstan is considering the oil export options through China and Iran in case of further sanctions against Russia, the Kazakh National Economy Ministry told News-Kazakhstan agency.
