Kazakhstan Sweep 110106
The U.S. government is concerned over the revision of the long-term contracts on oil projects in Kazakhstan, the U.S. Ambassador to Kazakhstan Richard Hoagland said at a press conference in Astana on Jan 6.
As a result of yesterday's accidental disconnection of electricity supply in Kyrgyzstan, consumers of six Kyrgyz regions, as well as people in the south of Kazakhstan and Uzbekistan were left without electricity, Kyrgyz Energy Minister Askarbek Shadiyev said on January 6 at a news conference.
China National Petroleum Corp (CNPC) produced a record 30 million tonnes of oil equivalent in Kazakhstan last year, or 600,000 barrels per day, the state-owned firm said on January 6.
Oil and gas explorer Max Petroleum on January 6 confirmed the discovery of oil in the UTS-1 well on the Uytas prospect in Western Kazakhstan, sending its shares up 22 percent.
The upper chamber of Kazakhstan's parliament has unanimously backed a plan to hold a referendum that would extend the term in office of President Nursultan Nazarbaev by another 10 years, Radio Free Europe reported on January 6.
U.S. concerned over revision of oil contracts in Kazakhstan
11:21 06.01.2011
Astana. January 6. Kazakhstan Today - The U.S. government is concerned over the revision of the long-term contracts on oil projects in Kazakhstan, the U.S. Ambassador to Kazakhstan Richard Hoagland said at a press conference in Astana, the agency reports citing the news agency Trend.
"I always emphasize that for us it is extremely important that the U.S. companies would follow the laws of the countries where they work. But at the same time, we have always been concerned when the long-term contracts are being reviewed," said Hoagland, responding to a question regarding the recent changes in the tax regime in Kazakhstan regarding oil business, particularly on doubling the amount of the oil export duty - up to $ 40 per ton.
According to the American Ambassador, the heads of the executive management of various American corporations, including companies that operate in the oil sector, contact with the embassy and share their views on tax policy of the country.
"But these are business issues, and they should be resolved through negotiations. Therefore, the position of the embassy is as follows: we call on both parties to resolve all issues through negotiations and compromises," said the diplomat, adding: "There are world-class lawyers who earn huge monies in this regard."
American companies Chevron and ExxonMobil operate on the two largest projects in the oil and gas sector of Kazakhstan - Tengiz and the North-Caspian project (Kashagan).
Oil production on the biggest oil field in the Kazakh section of Caspian - Kashagan is to begin later in 2013. Tengiz production volume exceeded 22 million tons of oil per year.
Huge power blackout hits Kyrgyzstan, Kazakhstan, Uzbekistan
Text of report by state-owned Kyrgyz news agency Kabar
Kabar, 6 January: As a result of yesterday's accidental disconnection of electricity supply in Kyrgyzstan, consumers of six Kyrgyz regions, as well as people in the south of Kazakhstan and Uzbekistan were left without electricity, Kyrgyz Energy Minister Askarbek Shadiyev said today at a news conference at the news agency, Kabar.
According to power engineers, about 20 per cent of people in the three countries sharing electricity through the Central Asia unified power grid were left without electricity yesterday.
The minister said that there was an accident at 1828 [local time] yesterday at the high-voltage power transmission line connecting the Kurpsay GES [hydroelectric power station] and the Oktyabr substation ([in southwestern] Dzhalal-Abad Region). Then the Kristall-Yulduz transmission line, connecting the substation Kristall with an Uzbek power grid, lost supplies. The remaining two generators began operating in an unstable manner after the supply of electricity along two transmission lines was stopped.
Shadiyev said that an automatic device switched off two generators and engineers had to switch on the remaining generators by hand.
[Monitor's note: Kyrgyz Radio reported at 0900 gmt on 6 January that as a result of an accident at the Central Asia unified energy system, 48 substations in Kyrgyzstan alone were left without electricity. It also said that consumers in Kyrgyzstan's northern Chuy, southwestern Dzhalal-Abad, eastern Naryn, southern Osh, northwestern Talas and northeastern Issyk-Kul regions had been without electricity from 1900 to 2200 (local time) yesterday]
Source: Kabar, Bishkek, in Russian 0639 gmt 6 Jan 11
CNPC produced record oil, gas in Kazakhstan last yr
Thu Jan 6, 2011 1:25am GMT
BEIJING Jan 6 (Reuters) - China National Petroleum Corp (CNPC) produced a record 30 million tonnes of oil equivalent in Kazakhstan last year, or 600,000 barrels per day, the state-owned firm said on Thursday.
CNPC, which often partners with foreign firms under product sharing contracts in overseas projects, did not say how much it was entitled to in the output.
CNPC is the parent of PetroChina (0857.HK: Quote)(601857.SS: Quote)(PTR.N: Quote). (Reporting by Jim Bai and Aizhu Chen; Editing by Jacqueline Wong)
UPDATE 1-Max Petroleum confirms Uytas oil discovery
Thu Jan 6, 2011 8:33am GMT
* Says discovers 55 metre oil column in Uytas prospect
* Co finds indicative rates of 24 bopd
* Shares up 22 pct (Adds details)
Jan 6 (Reuters) - Oil and gas explorer Max Petroleum (MXP.L: Quote) on Thursday confirmed the discovery of oil in the UTS-1 well on the Uytas prospect in Western Kazakhstan, sending its shares up 22 percent.
The Kazakhstan-focused company said the UTS-1 well indicated a 55 metre oil column with 31 metres of net oil pay.
The company said it found indicative rates of about 24 barrels of oil per day at depths ranging from 120 metres to 128 metres and 155 metres to 158 metres.
Max Petroleum said the well will be placed on a 90-day long term production test after all government approvals are obtained in the next few weeks.
The potential oil in place for the Cretaceous reservoir is estimated to be between 85 million to 135 million barrels of oil.
The company also said it plans to drill three confirmation wells in the first quarter of 2011 and has tendered for a ZJ-20 shallow rig to drill the wells.
Max Petroleum shares, which have more than doubled since the company found oil in the UTS-1 well on Oct. 19, were up 10 percent at 25 pence at 0825 GMT on Thursday on the London Stock Exchange.
They had touched a high of 27.75 pence earlier in the session. (Reporting by Juhi Arora in Bangalore; Editing by Prem Udayabhanu) ((; within UK +44 207 542 7717; outside UK +91 80 4135 5800; Reuters Messaging: ))
Kazakh Senators Back Referendum To Extend Nazarbaev Rule
January 06, 2011
The upper chamber of Kazakhstan's parliament has unanimously backed a plan to hold a referendum that would extend the term in office of President Nursultan Nazarbaev by another 10 years.
The lower house already backed a similar bill.
Kazakhstan's opposition has condemned the "people's initiative" by a self-styled citizens' forum as a ploy to avoid a presidential election scheduled for 2012.
The United States has criticized it as a setback for democracy.
The legislation asks Nazarbaev to amend the constitution and call a referendum.
Supporters say they have collected more than 2.5 million signatures of citizens in favor of a referendum.
The 70-year-old Nazarbaev, who has ruled Kazakhstan for more than 20 years, has to give his final word on the referendum.
Scattered protests by opponents of the referendum have been met with arrests and the dispersal of demonstrations in various cities.
Outgoing U.S. Ambassador to Kazakhstan Richard Hoagland used his final news conference in Astana to criticize the referendum, saying Kazakhs "should have a bigger choice than simply 'yes' or 'no'" in order "to have a democratic voice in their country."