Caspian Business News
29 Aug - 4 Sept, 2008
Kazakhstan Drafts Rates for New Oil Tax
Forbes, 3 September 2008
"The government of Kazakhstan has proposed to set mineral extraction tax rates for oil producers at 5-18 percent of crude's market value in 2009, with higher rates applied to larger producers, according to a draft law."
Kazakh Kashagan Might Start Oil Production in 2014
Reuters, 4 September 2008
"Commercial production at Kazakhstan's giant Kashagan oil field is expected to start later than the agreed 2013 launch date, a Kazakh oil industry official said on Thursday."
Energy Suppliers Wary of Georgia, Nabucco After War
Reuters, 1 September 2008
"Energy suppliers in the Caucasus and Caspian region could turn their backs on Georgia as a transit route after the country's brief war with Russia, denting confidence in the Nabucco pipeline project."
Kazakhstan Won't Drop Caucasus Export Route for Oil
RigZone, 4 September 2008
"Kazakhstan won't drop the Caucasus as an export route for its oil despite regional tensions caused by a conflict between Georgia and Russia, chief executive of Kazakh state oil and gas company said Thursday."
Caspian Says Kazakh Ministry Cancels Zhengheldy Contract
Interactive Investor, 1 September 2008
"Oil and gas group Caspian Holdings Plc. said Kazakhstan's Ministry of Energy and Mineral Resources has terminated the contract for the Zhengeldy field, citing alleged violations by the company."
Lukoil to Speed Up Development of Caspian Fields
RigZone, 29 August 2008
"Russian oil major OAO Lukoil plans to use funds saved due to planned oil tax cuts to speed up the development of its Caspian Sea deposits, Lukoil Vice President Leonid Fedun said Friday, according to the Prime-Tass news agency."
US Diplomat Says Trans-Caspian Pipeline Viable
Yahoo Finance, 4 September 2008
"A senior U.S. diplomat says a Western-backed gas pipeline from energy-rich Turkmenistan across the Caspian Sea to the European market remains a viable proposition despite the emergence of rival routes linking the country to Russia and China."
Kazakhstan Refuses to Construct New Oil Refinery in Batumi
The Messenger, 3 September 2008
"One of the major objectives of the Russian aggression was to undermine any alternative route for transporting energy, Russia currently having a monopoly on energy transport. It now appears to have partly achieved this objective."
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KAZAKHSTAN NEWS
Kazakhstan Offers to Participate in Talks on South Ossetia
People's Daily, 3 September 2008
"Kazakh President Nursultan Nazarbayev said Wednesday that his country is ready to participate in multilateral talks on the issue of South Ossetia if needed."
Nazarbayev Plays Double Game on South Ossetia
Eurasia Daily Monitor, 2 September 2008
"As leaders of Shanghai Cooperation Organization member states, Tajikistan, Uzbekistan, Kyrgyzstan, Kazakhstan, China, and Russia, gathered in Dushanbe on August 29, the least thing that Russian President Dmitry Medvedev could count on was unanimous support for his recognition of the independence of the breakaway Georgian provinces of Abkhazia and South Ossetia."
Russian Bear Makes C. Asia Nervous
Kaleej Times, 3 September 2008
"It was interesting over the past week to observe the escalating crisis between Russia and the West from Central Asia. Regional leaders met the Russian military campaign largely with silence. In Tajikistan, state television gave no information. Other Central Asian states limited coverage to facts, adding few comments, though the press included a variety of assessments both for and against Russia’s policies."
Turk Is Bank: Signs Deal to Grow in Russia, Kazakhstan
Reuters (via Yahoo), 2 September 2008
"Turkey's Is Bank has signed an advisory deal with Pricewaterhouse Coopers to grow in Russia, Kazakhstan and Ukraine, the bank said in a filing with the stock exchange on Tuesday."
VTB Bank Obtains Licence to Open Unit in Kazakhstan
Forbes, 2 September 2008
"JSC VTB Bank said the the Republic of Kazakhstan's Agency for Regulation and Supervision of Financial Markets and Financial Organisations has granted it a license to open a Kazakh subsidiary."
Severstal Pays $1.6 Bln for Kazakhstan, U.S. Assets
RIA Novosti, 4 September 2008
"Severstal paid $26.6 million for a 100% stake in a Kazakh gold producer, and $1.35 billion for two U.S. companies, WCI Steel and Esmark Inc, the Russian steelmaking giant said in a statement on Thursday."
CASPIAN REGION NEWS
Russia, Uzbekistan Agree New Gas Pipeline Project - Reports
NASDAQ, 2 September 2008
"Russia and Uzbekistan agreed on Tuesday to build a new pipeline to carry gas from Turkmenistan through Uzbekistan to Russia, Russian Prime Minister Vladimir Putin said, quoted by news agencies."
China, Turkmenistan Agree to Boost Planned Gas Sales
Reuters (via Yahoo), 30 August 2008
"Turkmenistan will sell 40 billion cubic metres of natural gas a year to China through a planned pipeline instead of the previously agreed 30 bcm, the leaders of the two countries said on Friday."
BP Says Unclear When Baku-Supsa Pipe Can Restart
Reuters (via Yahoo), 30 August 2008
"Oil flow through the BP-led Baku-Tbilisi-Ceyhan pipeline is nearly back up to its normal daily average of 700,000 to 800,000 barrels per day after this month's two-week closure due to an explosion in its Turkish stretch, a BP spokesman said."
Cheney to Rally U.S. Allies in Russia's Backyard
Reuters (via Yahoo), 2 September 2008
"U.S. Vice President Dick Cheney was on his way to ex-Soviet Azerbaijan on Wednesday for the first leg of a trip to show that Washington stood by its allies in the region despite Russia's military intervention in Georgia."
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