In 2013, KAZENERGY Association decided to prepare a comprehensive document containing information about the current state and growth prospects of Kazakhstan’s oil and gas, coal, uranium, heat and electric power industries. The main goal was to obtain structured data that would provide a clear picture of the situation in the country’s fuel and energy sector (FES), examining the main issues facing the industries within the sector, determining priority measures that need to be taken to address these issues and offering long-term forecasts for the sector’s growth.
Since January 1 the Treaty on the Eurasian Economic Union (EEU) signed by Russia, Belarus and Kazakhstan has entered into force. Four key economic freedoms have begun operating on the territory of the Union: freedom of movement of goods, services, capital and work force.
Thirty ninelow-profitable oil and gas companies of Kazakhstan will soon get tax preferences from the government.
Let’s remind that on August 20 the National Bank of Kazakhstan has introduced a floating exchange rate of the tenge which resulted in the fall in the value of the national currency by 35%. Later, at the briefing at Central Communications Service of the RK the First Deputy Prime Minister Bakytzhan Sagintayev informed that till October 1 the total tax burden for low-profitable oil companies will be reduced. “In cooperation with KazEnergy Association we conducted in-depth analysis of all 57 oil and gas companies.
Kenzhebek Ibrashev, General Director of PSA LLP gives an exclusive interview to Petroleum magazine and tells how Kazakhstan protects its interests within the frameworks of the existing PSA
-Mr.Ibrashev, could you please tell us more about the activity of PSA LLP. What projects are supervised by this organisation? What are the mechanisms available for monitoring these projects?
October 9, Yerbolat Dossayev, Minister of National Economy, said at a briefing that the Government of Kazakhstan designed a scenario of economic in case of a slump in oil prices below $80 per barrel. “I have presented a socio-economic development forecast, the negative scenario is based on the 80 dollars per barrel. We have calculated some options in the event of further price declines,” Dossayev said. He reminded that Kazakhstan’s economy depended largely on the price of oil on world markets.
On May 29, 2015, one year passed after signing the Agreement on Establishment of the Eurasian Economic Union (EEU), which gave an additional impetus to the mutually beneficial, equitable development of the economies of Russia, Kazakhstan and Belarus, including such areas as the industry, transport, energy, agriculture, and it promoted to a more effective use of the equal partnership potential. The business circles of our countries have already appreciated the advantages of the provided conditions, expressed in terms of trade, investment, growth in the number of joint ventures and projects in both the manufacturing and services sectors.
The president of Kazakhstan, Nursultan Nazarbayev, registered as candidate for the highest state office in the country. As you know, on February 14, on the Valentine's day, the Assembly of people of Kazakhstan admitted in love to the head of State and urged their deputies group in the Majilis of the Parliament to take the initiative to hold early presidential elections.
Europe: Energy Union as a New Energy Paradigm? Security and Independence is a Key Strategy for the EU#2 (92), April 2015 special issue
European Commission published the Concept of the Energy Union on February 25. It should be recognized that the forthcoming establishment of the Energy Union means the next stage of deepening the integration process. This Union will be the third integration model after creating the Monetary Union (with its supranational currency-Euro and its management body-the European Central Bank) and Banking Union (with the creation of a single supervisory authority over the European banks).
Atyrau’s coat of arms reflects its two treasures: oil and fish. Missing from the coat of arms is one more treasure – the people. As it turns out, Atyrau gave our country a panoply of talented figures who left a legacy in the history.
Late last year, KAZENERGY Association published its National Energy Report-2013, which presented an analysis of the situation and of development prospects for the fuel and energy complex of Kazakhstan. According to the statement made by Asset Magauov, the General Director of the Association, the relevant ministries, scientific & research institutes, members of the Association and a number of consulting companies has been involved in Report preparation. The Report contains exclusive data, analyses and expert findings on the situation in the fuel and energy industry in Kazakhstan and abroad. According to Mr. Magauov, opinions of the World Energy Council, of the World Petroleum Council, as well as general global research and forecasts in the energy industry were taken into account in the preparation of the document.
In 2009, at the height of the global financial crisis and the sharp drop in oil prices, a barely noticeable event occurred on the background of global turmoil that determined the current dramatic situation in the world oil market - oil production in the United States began its steady increase
On October 1 , Nursultan Nazarbayev, Head of the State, visited the offshore metal structures plant, owned by Caspian Offshore & Marine Construction LLP, during his working trip to Mangystau region, - informs the press service of Akorda. During the visit, the President heard the reports about the enterprise activities and viewed the first jack-up rig in Kazakhstan, which is being raised for KMG Drilling & Services LLP.
It is not enough to open a hydrocarbon field; we should also give it a name, which will bring the good luck. What are the principles of choosing a name for the fields? Journalist Ryan Halliwell from the Houston Chronicle newspaper analyzed, how it happens in the world. And in its turn, the Petroleum Journal did the same in Kazakhstan.
For violation of the Energy Charter Treaty and “deprivation of the oil business» caused to the Moldovan businessman Anatol Stati, the owner of an offshore company Tristan Oil Ltd., International Court of Arbitration awarded Kazakhstan to pay $ 1.5 billion.
From April 1 the Agency of the Republic of Kazakhstan on Regulation of Natural Monopolies approved the increase of the tariff rate and the tariff estimates on the oil pumping through the oil pipeline system regulated service, provided by JSC KazTransOil . The tariff on the oil pumping through oil pipeline system regulated service, provided by JSC KazTransOil, has been approved in the amount of: for export - T5817, 2/1000 TKM exclusive of VAT; for the domestic market-T2931, 8/1000 TKM exclusive of VAT.
KazMunaiGas National Company is rightly considered to be one of the country’s economy locomotives. Today it provides about a third of overall oil production, nearly 96% of gas transportation, 67% of the pipeline transportation and 83% of oil refining in the country.