News: Wednesday, March 10, 2010 
Article of the Day
KazMunaiGas E&P says Strike Impact limited
By Olzhas Auyezov
KazMunaiGas Exploration and Production said Tuesday that the impact from a strike at one of its units was limited and the company sought to resolve the dispute soon.
KazMunaiGas E&P said last week it was losing up to 1 percent of daily output due to a strike at its Ozen oil field where workers staged a protest against a new pay structure which reduced bonus payments while raising regular wages.
"During the March 4 - March 8 period between 1,500 and 3,000 workers skipped their shifts, most of them employed at well services and transport," the company said in a statement, adding that production losses were 200 to 400 tons a day.
"The management KazMunaiGas E&P continues attempts to establish... dialogue with the workers on strike and counts on local authorities to help maintain law and order in the town of Zhanaozen," it added, referring to a town near Ozen.
Kazakh state energy firm KazMunaiGas owns a majority stake in London-listed KazMunaiGas E&P.
Kazakhstan plans to produce 80 million tons of oil this year, most of which is due to be exported through pipelines crossing Russia, Reuters reports.
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Kazakhstan General
Nazarbayev plans Tashkent Visit
Kazakhstan’s President, Nursultan Nazarbayev, will visit Uzbekistan later this month, according to Kazakhstani diplomats.
The upcoming visit was raised by Kazakhstan’s new Ambassador to Uzbekistan, Boribay Jeksembin,
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Oil and Gas Sector
KazMunaiGas Employees demand Firm to be Nationalized
Employees at KazMunaiGas Exploration & Production JSC in Zhanaozene (Mangistau Oblast) are on strike for the second day, demanding the company be fully nationalized, Kazakhstan Today
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Chevron close to resuming BTC Shipments - Official
Tengizchevroil, the Chevron-led joint venture developing the giant Tengiz oil field, is reportedly close to resuming crude oil transportation via the Baku-Tbilisi-Ceyhan (BTC) pipeline, an Azeri
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EBRD grants $50 Million Convertible Loan to Poland
The European Bank of Reconstruction and Development will invest $50 million in the Polish oil company Petrolinvest, allowing the firm to finance the completion of drilling
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Finance and Investment
Moody's downgrades Alfa-Bank Kazakhstan to 'B2' from 'Ba3,' Stable Outlook
Moody's Investors Service today downgraded Alfa-Bank Kazakhstan's (ABK) local and foreign currency bank deposit ratings to ‘B2’ from ‘Ba3’. The bank's bank financial strength rating (BFSR)
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Astana Finance signs MOU with Samruk-Kazyna National Welfare Fund
The Samruk-Kazyna National Welfare Fund intends to support the proposed restructuring of the financial indebtedness of Astana Finance JSC (the company).
In a Memorandum of Understanding signed
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Alliance wins US Bankruptcy Court Protection
Alliance Bank, the sixth-largest bank in Kazakhstan by net loans, has won bankruptcy court permission to protect itself from US lawsuits and distribute about $500 million
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Kazakhstan’s Foreign Reserves rise 3.4 Percent in February
Kazakhstan’s foreign reserves (including in the National Fund) increased by 3.4 percent to $52.2 billion in February, the National Bank reported.
Total foreign reserves in the National
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Metals and Minerals
Kazakhmys undecided on ENRC Stake
Kazakhmys, Kazakhstan’s largest copper producer, has not taken a final decision on a possible sale of its stake in its domestic rival, the Eurasian Natural Resources
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Trade and Consumer Goods
CIS and Baltic Farming Agriculture Reps to take part in International Grain Conference in Astana
The International Grain Conference in Astana is a forum for discussing the current situation on international and Kazakhstan grain markets, and making decisions concerning the further
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Communications and Transportation
First Stage of Almaty Metro 64% Completed
The construction of the first leg of the Almaty underground is 64% completed, Kazakhstan Today reports citing the Vremya newspaper.
"Construction of the first stage of the
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People and Training
Colonel becomes Deputy Chief of CSTO Joint Staff
Colonel General, Anatoly Nogovitsyn, has become first deputy chief of the Joint Staff of the Collective Security Treaty Organization (CSTO), as per a decision accepted by
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Real Estate
Housing Program to open 745 Apartments in 2011
745 apartments will be opened in Kazakhstan in 2011 via the Housing Construction Saving System, Chairman of the Construction and Housing and Communal Services Agency, Serik
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Government creates Interdepartmental Commission to reform Construction Industry
Kazakhstan’s government will found an interdepartmental commission to reform the construction industry, Prime Minister Karim Masimov stated during a selective government meeting yesterday, Kazakhstan Today reports.
"I
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Regional Business News
Putin Deputies’ ‘Tug of War’ threatens Russia Oil Flows to Asia
By Anna Shiryaevskaya and Maria Levitov
A feud between Russian Prime Minister Vladimir Putin’s deputies over how to plug the budget gap may end up curbing growth
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Al-Shams CEO eyes promoting Islamic Finance in CIS - says Nazarbayev Most Proactive Promoter
By Mushtak Parker
Adalet Djabiev is the “comeback kid” of Russian Islamic financial services. He is also part of the new generation of Russian bankers that have
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US General's Kyrgyz Visit rivals Russian Influence
US General David Petraeus arrived in Kyrgyzstan on Wednesday, a day after the United States said it would build an anti-terrorism training center for the former
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Prices and Statistics
Volume and Share Index by Visor Capital
Date: March 10, 2010; Source: Visor Capital
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Market Movers by Visor Capital
Date: March 10, 2010; Source: Visor Capital
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Oil and Gas Prices
Date: March 10, 2010; Source: Bloomberg.com
| Petroleum
($/bbl) |
|
Price* |
Change |
%Change |
Time |
| Nymex Crude Future |
81.46
|
-.03
|
-.04
|
00:43 |
| Dated Brent Spot |
79.34 |
.16 |
.20 |
00:51 |
| WTI Cushing Spot |
81.49 |
-.38 |
-.46
|
03/09 |
| Petroleum
(cent/gal) |
|
Price* |
Change |
%Change |
Time |
| Nymex Heating Oil Future |
209.50
|
.52
|
.25 |
00:20
|
| Nymex RBOB Gasoline Future |
226.85
|
.82 |
.36 |
00:19 |
| Natural gas
($/MMBtu) |
|
Price* |
Change |
%Change |
Time |
| Nymex Henry Hub Future |
4.50 |
-.02 |
-.33 |
00:41 |
| Henry Hub Spot |
4.52 |
.05 |
1.12 |
03/09 |
| New York City Gate Spot |
4.85 |
.04
|
.83 |
03/09
|
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Commodities
Date: March 10, 2010; Source: Bloomberg.com
| Commodity |
Price |
Change |
%Change |
Time |
| COPPER FUTURE (USd/lb.) |
342.600 |
1.450 |
0.43 |
00:59 |
| GOLD 100 OZ FUTR (USD/t oz.) |
1126.300 |
4.000 |
0.36 |
00:59 |
| SILVER FUTURE (USD/t oz.) |
17.460 |
0.122
|
0.70
|
00:59 |
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Metal Prices
Date: March 10, 2010; Source: Kitco.com
| Silver |
17.44 |
+0.15 |
| Platinum |
1604.00 |
+14.00
|
| Palladium |
470.00 |
+3.00
|
| Rhodium |
2,400.00 |
0.00
|
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Exchange rates
Date: March 10, 2010; Source: the National Bank of Kazakhstan
| 1 USD |
KZT 147.19 |
1 CHF |
KZT 136.83 |
1 CNY |
KZT 21.56 |
1 TRY |
KZT 95.70 |
10 JPY |
KZT 1.64 |
| 1 EUR |
KZT 200.10 |
1 AUD |
KZT 133.81 |
1 KGS |
KZT 3.30 |
1 UZS |
KZT 0.10 |
|
|
| 1 GBP |
KZT 220.56 |
1 CAD |
KZT 143.14 |
1 RUB |
KZT 4.95 |
100 KRW |
KZT 12.98 |
|
|
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