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News: Wednesday, March 29, 2017 -- Issue 2706 http://www.newsline.kz/rss/

Article of the Day

The Caspian Sea region: where politics and energy collide
    NB Intelligence has released a new CaspianOil Special Report 2017, focusing on risk and issues associated with existing and prospective fields in the region.
    The Report focuses on the wider Caspian Basin, which includes both onshore and offshore fields in the five countries that share it – Azerbaijan, Iran, Kazakhstan, Russia and Turkmenistan. The area is conservatively estimated to have around 48 billion barrels of oil and 292 tcf (8.3 tcm) of natural gas in proven and probable reserves.
    The US Geological Survey (USGS) estimates that another 20 billion barrels of crude oil and 6.9 tcm of natural gas are conventional technically recoverable, but as yet undiscovered, resources, with around 65% of the undiscovered oil and 81% of the natural gas estimated to be in the South Caspian Basin. The Arctic-like northern area of the Caspian Sea is also relatively unexplored, and USGS estimates significant amounts of undiscovered resources there as well.
    “This enormous region is relatively under explored and its true potential for oil and gas not yet fully understood. This Report aims to dig further into existing projects and analyse prospective fields giving a clear outline of the pros and cons of each,” said Gav Don, CEO of NB Intelligence.
    The Caspian Basin has been a prolific producer of oil for over a century, but only since the fall of communism has meaningful progress been made in mapping out the region’s offshore potential. It is also important as it offers a prime strategic location between both Asian and European markets.
    Since the 1990s, a series of oil and gas fields have come into production off the coasts of Azerbaijan, Russia, Kazakhstan and Turkmenistan, and further projects are in the pipeline, notably in Russian waters. Mega-projects like Kashagan and Shah Deniz have often dominated the press coverage of this area in the last few years, dogged by delays and political issues. The Caspian, however, continues to offer international oil companies (IOCs) and contractors lucrative business opportunities. But operating in the region also carries risks, not least because of the ongoing territorial dispute between the sea’s five littoral states.
    “This report provides a comprehensive overview of the regions production prospects and the risks and issues associated with exploration in the area. Its detailed insight is ideal for operators and analysts working or planning to work in the region,” concluded Don.
    Reported by Your Subsea News.

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Kazakhstan General

Kazakh delegation attends UN conference on elaboration of treaty on prohibition of nuclear weapons
    Kazakhstan’s delegation led by the Ambassador at Large of the Ministry of Foreign Affairs Yerbolat Sembayev takes part in the first session of the Conference to ...
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Storms, heavy rainfall, avalanches loom over various parts of Kazakhstan
    The passage of atmospheric fronts will cause precipitation all over the north and the west and locally in other parts of the country. Patchy fog, ice ...
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Expo-2017

EXPO 2017 guests may be offered permanent tickets
    The National Company Astana EXPO 2017 is considering sales of permanent tickets for visiting the international exhibition, Kazinform correspondent reports.
    "This matter is now under heated discussion ...
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EXPO-2017: ticket offices open all over Kazakhstan
    Official EXPO-2017 Ticket Offices are now opened in all regional centers of Kazakhstan, as well as in Almaty and Astana, Kazinform reports.
    "Currently we have ticket sales ...
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Italian pavillon at Astana Expo 2017 nears completion
    Italy in Astana for the Expo 2017 has almost completed its Pavillon. “Italy has actively prepared the whole day to showcase the Italian culture and mini-festival ...
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Pianist Andrea Lucchesini to give concert at EXPO 2017
    Internationally renowned Italian pianist Andrea Lucchesini will perform in Astana within the framework of the International specialized exhibition EXPO 2017, Kazinform has learnt from "Astana EXPO ...
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Almost all EXPO pavilions ready to open
    103 out of 115 expo exhibitors received their pavilions. This was reported in the national company Astana Expo 2017. China and Austria have demonstrated own pavilions. ...
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Oil and Gas Sector

Kazakhstan claims to be unable to cut oil output more
    Kazakhstan is not able to cut oil output more, Kazakh Energy Minister Kanat Bozumbayev told journalists March 28, Kazakhstan Today reported.
    “We can only increase oil output,” ...
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Nostrum Oil swings to loss, plans to lift output and refinance bonds
    Nostrum Oil & Gas PLC on Tuesday said a large loss its hedging contract and a big drop in revenue caused the company to turn to ...
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Optimisation of business processes at the AOR allowed increasing productivity by 50 percent
    Chairman of the Board of Samruk-Kazyna Fund (hereinafter - the Fund) Umirzak Shukeyev met with the staff of the Atyrau Oil Refinery (AOR) to explain the ...
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Caspian Oil&Gas 2017 exhibition to begin in late May
    Caspian Oil&Gas 2017, the 24th International Caspian Oil and Gas exhibition, the largest energy sector event in the Caspian region, will take place from 31 May ...
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Med crude-Urals differentials unchanged, arbitrage could lift prices
    Urals differentials were unchanged in quiet trade on Tuesday, but some traders saw signs that prices for Russian grade may rise due to healthier refining margins ...
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Oil prices end at highest level in about a week
    Oil prices settled at a roughly one-week high Tuesday, buoyed by disruptions to Libyan crude production and talk of a six-month extension to an OPEC-led pact ...
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IEA flags volatility in oil price
    Global demand for oil could outstrip supplies over the next few months if the Opec nations stick to their agreed output cuts, said a top energy ...
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Kazakhstan to reduce excise taxes to diesel fuel
    The excise rates for diesel fuel in the period from April to May of this year will be reduced from 9 300 to 540 tenge per ...
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Energy Industry

KEGOC JSC discusses Address by the President of Kazakhstan «Third Modernisation of Kazakhstan: global competitiveness»
    KEGOC” JSC discusses Address by the President of the Republic of Kazakhstan «Third Modernisation of Kazakhstan: global competitiveness»
    Bakytzhan Kazhiyev, CEO of KEGOC, the main power ...
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Finance and Investment

Governor of DIFC, welcomes President of Kazakhstan
    His Excellency Essa Kazim, Governor of Dubai International Financial Centre (DIFC), earlier this week welcomed His Excellency Nursultan Nazarbayev, the President of the Republic of Kazakhstan, ...
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Samruk-Kazyna management holds meetings with potential investors and partners in the USA
    The top managers of Samruk-Kazyna JSC (“Samruk-Kazyna” or “the Fund”) held a number of meetings with potential partners and investors in New York. The management of ...
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Kazakh PM discontent with projects selection for potential investors
    Kazakh Prime Minister Bakytzhan Sagintayev expressed his discontent with the work on projects selection for potential investors, Kazinform correspondent reports.
    "There is the Head of State's ...
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KASE day session: USDKZT_TOD = 314.88
    The day foreign currencies trading session ended on Kazakhstan Stock Exchange (KASE).
    Based on results of trades on the spot-market:
    - weighted average US dollar rate with settlements ...
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AIFC joins Vantage Financial Centers
    The Astana International Financial Centre (AIFC) joined the exclusive association of international financial centres (Vantage Financial Centres). This was announced during the official presentation of the ...
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Kazakhstan, EU Strengthen Economic, Trade Cooperation
    Representatives from the European Union and Kazakhstan met in Astana on Tuesday to make headway on issues pertaining to the EU-Kazakh Enhanced Partnership and Cooperation Agreement.
    “The ...
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Metals and Minerals

Metals prices adjust to recent volatility
    The base metals on the London Metal Exchange are little changed this morning, Tuesday March 28, with three-month copper prices at $5,799 per tonne and volume ...
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Gold prices 'bullish' below 200-day MA and 2011 downtrend as dollar unwinds last of 'Trump Trade'
    Gold prices rallied $7 per ounce touch $1258 in London trade Tuesday morning, nearing yesterday's new 1-month high as world stock markets also held flat but ...
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Gold prices unable to break key resistance, solid underlying support
    Although gold was unable to break above key resistance, the underlying tone has remained firm with the fragile tone surrounding risk offering support, especially with the ...
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Coking coal prices to stabilise at USD140-150 per tonne
    Prices of coking coal was expected to stabilise in the region of USD140 to USD150 per tonne over the next three to five years, an official ...
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Uranium about to go nuclear
    Summary:
    -155 net more nuclear reactors in operation by 2035, a 35% increase.
    Significant supply deficit to occur in 2025, at least through 2035.
    -Uranium is trading under its ...
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Trade and Consumer Goods

This year in Kazakhstan, agricultural crops will be sowed on the area of almost 22 million hectares
    This year in Kazakhstan, agricultural crops will be sowed on the area of almost 22 million hectares, which is 311 thousand hectares more than in 2016, ...
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Kazakhstan to increase the planted areas of agricultural crops
    In 2017, Kazakhstan will increase the planted areas under agricultural crops by 311 thsd ha compared with the indicator for 2016, declared the First Vice-Minister of ...
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Kazakh barley exports down 23% from last year
    Kazakh barley exports turned downward down again in January 2017. So, 89.8 KMT of this commodity was shipped for export in January 2017 against 148 KMT ...
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Turkmenistan expects to harvest 81,000 tons of rice in 2017
    President of Turkmenistan Gurbanguly Berdimuhamedov signed a resolution on the rice harvest of Turkmenistan in 2017.
    According to the resolution, rice sowing area will be 18 thousand ...
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Futures: wheat shorts take profits
    Grain futures found some support in a 'turnaround Tuesday' bout of bargain buying, although traders remain cautious ahead of Friday's US planting and stocks estimates, traditionally ...
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Communications and Transportation

Opening date of new airport terminal in Astana announced
    On May 15 this year, a new airport terminal will be opened in Astana. This was announced by the first RK vice-minister for investments and development ...
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Azerbaijan receives 1st cargo from Kazakhstan's Kuryk port
    The first cargo has arrived at the Baku International Sea Trade Port from Kazakhstan's new port Kuryk, reads a message from Azerbaijan Caspian Shipping CJSC.
    Freight cars ...
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Kazakh senate considers bill on increased liability in aviation
    The Kazakh Upper House has considered the bill "On introducing changes and amendments to some legislative acts of the Republic of Kazakhstan on the use of ...
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Another large telecom provider connects to KazSat-3
    Almatel JSC with Alma TV trademark has connected to Kazakh communication and broadcasting satellite KazSat-3, Kazinform reports.
    "Alma TV has become the first operator in the country ...
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Culture and Society

Kazakhstan Fashion Week to be held in Astana
    The most significant event in the world of fashion of the country - Kazakhstan Fashion Week - will be held in the Palace of Independence on ...
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Regional News

Russian mobile phone operator MTS quits Uzbekistan
    Russia's biggest mobile phone operator MTS has sold its 50 percent stake in Uzbekistan telecommunications operator Universal Mobile Systems (UMS) to its joint venture partner, it ...
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Russian, Tajik special forces destroy conditional terrorists during joint drills
    Hundreds of servicemen with dozens of units of aviation and armored vehicles participated in Russian-Tajik joint counter-terrorism drills in Tajikistan, destroying targets of conditional extremists, the ...
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China promises better financial support for manufacturing upgrade
    Chinese authorities on Tuesday promised "multi-pronged financial support" for the manufacturing sector as the government looks to shift the country away from low-end manufacturing to more ...
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China banking sector onshore assets up 14.6%
    Chinese banks held 230 trillion yuan ($33.4 trillion) in onshore assets as of the end of February, according to data released by the China Banking Regulatory ...
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Iran, Russia finalise deal on production of railroad cars
    The Industrial Development and Renovation Organization of Iran (IDRO) and Transmashholding, Russia’s largest company on the railway machine-building market, inked a memorandum of understanding (MoU) to ...
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Kyrgyzstan: construction of plant producing power transmission line poles ongoing in Balykchy
    60 percent of the construction of the plant on production of concrete poles have been completed in Balykchy town of Issyk-Kul region, said Director of the ...
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Chinese company plans to build a cement plant in Uzbekistan
    Representatives of China’s Anhui Conch Cement Company Limited have visited Uzbekistan to discuss cooperation with local construction and production corporation, Umar, for construction of a cement ...
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Prices and Statistics

Commodities
    

Date: March 29, 2017; Source: Bloomberg.com

Energy

Index Units Price Change %Change Contract Time (EDT) 2 Day
USD/bbl. 48.55 +0.18 +0.37% May 2017 1:20 AM
USD/bbl. 51.46 +0.13 +0.25% May 2017 1:11 AM
USd/gal. 163.20 -0.29 -0.18% Apr 2017 1:08 AM
USD/MMBtu 3.08 -0.01 -0.45% Apr 2017 12:39 AM
USd/gal. 152.59 +0.92 +0.61% Apr 2017 12:27 AM
 
Index Units Price Change %Change Contract Time (EDT) 2 Day
USD/t oz. 1,251.90 -6.90 -0.55% Jun 2017 1:21 AM
USD/t oz. 1,248.90 -2.92 -0.23% N/A 1:31 AM
USD/t oz. 18.09 -0.16 -0.89% May 2017 1:20 AM
USd/lb. 266.45 -1.15 -0.43% May 2017 1:20 AM
USD/t oz. 953.55 -1.05 -0.11% N/A 1:31 AM
Index Units Price Change %Change Contract Time (EDT) 2 Day
USd/bu. 357.75 0.00 0.00% May 2017 1:20 AM
USd/bu. 425.00 +0.50 +0.12% May 2017 1:19 AM
USD/MT 2,129.00 -21.00 -0.98% May 2017 3/28/2017
USd/lb. 76.87 -0.01 -0.01% May 2017 1:17 AM
USd/lb. 111.60 +0.15 +0.13% Jun 2017 3/28/2017
 

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Exchange Rates
    

Date: March 29, 2017; Source: the National Bank of Kazakhstan

1 USD KZT 314.83 1 CHF

KZT 319.46

1 CNY

KZT 45.73

1 TRY KZT 87.03 1 JPY KZT 2.84
1 EUR

KZT 341.87

1 AUD

KZT 239.46

1 KGS KZT 4.58 100 UZS KZT 8.88 1 BYN KZT 168.27
1 GBP KZT 395.49 1 CAD KZT 234.97 1 RUB KZT 5.52 100 KRW KZT 28.31 1 UAH KZT 11.61

 

 

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