Сми о Казахстане (19-26 января 2009 года) оглавление

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The Hindu (Индия), January 23, 2009, ONGC-MITTAL TO TAKE 25 PC STAKE IN SATPAYEV OILFIELD
The SteelGuru (Индия), January 24, 2009, KAZAKHSTAN OIL AND GAS CONDENSATE PRODUCTION IN 2008 UP BY 5% YOY
The SteelGuru (India), January 23, 2009, KAZAKHSTAN SETS EXTRACTION TAX ON RARE METALS
The SteelGuru (India), January 23, 2009, RUSSIAN CONSUMERS OWE USD 6 BILLION TO KAZAKHSTAN COAL SUPPLIERS
Сайт SteelGuru (Индия), January 22, 2009, KAZAKHSTAN MAY CUT OIL OUTPUT BY 4% IN 2009
The Al-Bawaba (Jordan), January 17, 2009, KAZAKHSTAN FC 'BBB-' RATING AFFIRMED; NEGATIVE OUTLOOK REMAINS AS EXTERNAL DEMAND FALL
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The Hindu (Индия), January 23, 2009, ONGC-MITTAL TO TAKE 25 PC STAKE IN SATPAYEV OILFIELD



Oil and Natural Gas Corp and its billionaire partner Lakshmi N Mittal will sign a deal to take a 25 per cent stake in Kazakhstan's prospective Satpayev oil field in the Caspian Sea on Saturday.

After nearly four years of tough negotiations, ONGC Mittal Energy Ltd, the joint venture of ONGC Videsh Ltd and Mittal Investment Sarl, will tomorrow sign the agreement for taking the stake in the Satpayev field, official sources said.

The deal is being formalised during the visit of Kazakhstan President Nursultan Nazarbayev, who is the Chief Guest at the Republic Day Parade this year.

Kazakhstan had initially identified the Satpayev and Makhambet blocks in the Caspian Sea for giving a 50 per cent stake in one of them to OVL, the overseas arm of state-owned ONGC. Later it reduced the stake on offer to 25 per cent on condition that the Indian flagship teamed up with steel baron Lakshmi N Mittal for entry.

OVL relented and in June 2007 made an attractive commercial proposal to KazMunaiGas (KMG), but in subsequent negotiations, Kazakhstan's state-run firm did not agree on the percentage of stake OVL would get. It also did not agree on operatorship to OVL during the exploratory and appraisal stages.

Sources said Kazakhstan finally decided to sign the agreement. Kazakhstan's state-owned KazMunaiGas will hold the remaining 75 per cent stake in Satpayev.

Kazakhstan has agreed on a stake despite its Parliament debating a new oil law that may bar foreign firms from taking a stake in any of the country's oil and gas fields. Instead, only exploration contracts are envisaged to be signed wherein firms get a fixed fee.

In the case of commercial discovery, the contractor will have the first preference to sign a production-sharing agreement or a licence agreement.

The SteelGuru (Индия), January 24, 2009, KAZAKHSTAN OIL AND GAS CONDENSATE PRODUCTION IN 2008 UP BY 5% YOY



Kazinform reported that extraction of oil and gas condensate amounted to 70.6 million tonnes in Kazakhstan in 2008, increasing by 5% against 2007.

Mr Sauat Mynbayev Kazakhstan minister of energy and mineral resources has made it public at the Ministry’s Collegium. He said that “12.3 million tonnes of oil were supplied to the domestic market and processed. 6.7 million tonnes out of them were imported to Russia.”

Mr Sauat Mynbayev paid attention to the Pavlodar oil refinery, which operates using mainly Russian oil. He said that production of the domestic aviation kerosene increased.

The SteelGuru (India), January 23, 2009, KAZAKHSTAN SETS EXTRACTION TAX ON RARE METALS



Interfax reported that Kazakhstan's government has set natural resource extraction tax rates for rare and rare earth metals.

The government published a decree on last Saturday, setting a rate of 7.7% of the value of mined lithium, beryllium, tantalum and strontium and 6.0% for other rare earth metals. The decree was published in keeping with Kazakhstan's new Tax Code and is effective from January 1st 2009.

The value of metals is based on world prices for the purposes of calculating the NRET, which replaces royalties in the mining industry. Concessionary rates will be introduced for mineral developers working low margin and low yield deposits.

The SteelGuru (India), January 23, 2009, RUSSIAN CONSUMERS OWE USD 6 BILLION TO KAZAKHSTAN COAL SUPPLIERS



Kazinform cited Mr Sauat Mynbayev Minister of Energy and Mineral Resources as saying that Russian consumers owe about USD 6 billion to the Kazakhstan coal suppliers.

In this view he noted that “the volume of export supplies will depend on consumers’ financial solvency. Speaking on the tasks of the coal sector for 2009 the Head of the Ministry said there would be no conceptually new decisions.

According to the Ministry, coal output in Kazakhstan made 104.9 million tonnes in 2008 that is 12% higher against 2007.

As is known, the Government of Kazakhstan approved a 2020 Concept of Kazakhstan coal industry development. In order to improve reliability of coal supply SamrukKazyna National Welfare Fund has purchased 50% of shares of the country’s largest company “Bogatyr Access Komir LLP.

Сайт SteelGuru (Индия), January 22, 2009, KAZAKHSTAN MAY CUT OIL OUTPUT BY 4% IN 2009



RIA Novosti reported that Kazakhstan could cut oil production this year by 4% to 76 million tonnes.

Mr Bakyt Sultanov Kazakhstan minister of economy and budget planning said that "The official forecast is still 79 million tonnes for 2009 but our forecasts include the possibility of a cut of 3 million tonnes."

Mr Sultanov said that "if prices are below USD 40 per barrel several fields could introduce cuts over profitability issues."

Oil prices fell below USD 35 a barrel in New York on Monday.

The Al-Bawaba (Jordan), January 17, 2009, KAZAKHSTAN FC 'BBB-' RATING AFFIRMED; NEGATIVE OUTLOOK REMAINS AS EXTERNAL DEMAND FALLS



Standard & Poor's Ratings Services today said it had affirmed its 'BBB-' foreign currency and 'BBB' local currency long-term sovereign credit ratings on the Republic of Kazakhstan. At the same time, the 'A-3' foreign and local currency short-term ratings were also affirmed. The outlook remains negative.

"Kazakhstan faces challenges stemming from mounting loan losses in the banking sector and worsening terms of trade," Standard & Poor's credit analyst Ben Faulks said.

Fiscal and balance of payments performance remain overly dependent on commodity prices, though productivity performance in the commodity sector has been superior to CIS peers. Following years of rapid growth, credit extension fell in real terms in 2008 as banks, facing a spike in borrowing costs, repaid external loans which fund most domestic lending. This is likely to have caused a contraction in non-tradable sectors, such as real estate and financial services, a sharp decline in economic growth, and a rise in non-performing loans. The 30% fall in secondary market house prices in Astana and Almaty, the main cities, is of particular concern given the prevalent use of real estate as collateral in bank lending.

The government has responded with a comprehensive package of measures to recapitalize the banking sector and support economic growth over 2009-2010, which Standard & Poor's estimates will cost 13.4% of 2009 forecast GDP in spending and forgone revenue. We expect that these measures will support growth in the 2%-3% range over the next two years but, together with lower oil prices, will push the general government deficit out to around 6% of GDP in both years, following surpluses averaging 7.5% of GDP for the past three years.

The Kazakh government faces the worsening global environment from a position of strength in its fiscal balance sheet. We estimate that prudent saving of oil receipts, combined with the recent surge in oil prices, has seen the general government net asset position (not including monetary reserves) strengthen to 13.2% of GDP at year-end 2008 against a 'BBB' median net debt position of 27% of GDP. We forecast that the general government will return to net debt by end-2011, but at 5% of GDP, this is still a relatively strong position.

However, there are a number of downside risks to our projections, chief among which is a further fall in external demand that pushes oil prices below the $43/barrel and $57/barrel that we currently forecast for 2009 and 2010, further constrains foreign direct investment, and makes banks' external debt refinancing even more difficult. Any exchange rate volatility that resulted from the consequent deterioration in external liquidity would prove an additional risk to banks, given considerable foreign exchange lending to unhedged corporates and households.

"The negative outlook reflects the downside risks to Kazakhstan's commodity-sensitive terms of trade and the difficult external refinancing environment, in light of rapidly worsening global economic conditions," Mr. Faulks said. "The ratings would likely be lowered should this cause a significantly greater deterioration in Kazakhstan's fiscal and external flexibility than we currently anticipate. The outlook would revert to stable should banking sector difficulties and the economic slowdown be managed in a way that avoids major impairment to the country's balance sheet and should growth gradually recover to its long-term potential rate."