KAZAKHSTAN’S PRESIDENT PROMISES OIL BOOM
Published:
4 July 2003 y., Friday
On a recent trip to Canada, Kazakhstani President Nursultan Nazarbayev declared the country’s oil sector was ready to boom. Many multinational oil conglomerates, however, may not share Nazarbayev’s optimism. Foreign oil executives have grumbled of late about unfair Kazakhstani practices, including attempts to alter established contracts. Nevertheless, Kazakhstan’s abundant resources may render the country impossible for foreign investors to ignore.
A government initiative to raise energy-sector taxes could heighten corporate concerns about the Kazakhstani investment climate. Speaking at a joint session of parliament June 30, new Kazakhstani Prime Minister Daniyal Akhmetov told legislators that a government working group would prepare amendments to the country’s tax code by September 1. Akhmetov also characterized some existing oil-and-gas contracts as outmoded, but added that the government would not seek to rework deals made with foreign companies.
Akhmetov’s comments came just three days after Nazarbayev, while on a five-day visit to Canada, delivered a major address on Kazakhstan’s energy-sector development efforts. The president told a group of energy executives in Calgary that Kazakhstan plans to expand its oil production to 180 million tons by 2015, up from current levels of 50 million tons.
Šaltinis:
eurasianet.org
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The President of the Spanish Government, José Luis Rodríguez Zapatero, will meet this Monday with the German Chancellor, Angela Merkel, to analyse the future EU economic and employment strategy EU2020 before the Twenty-seven approve its basic lines at the Spring European Council.
more »
The planned overhaul of the EU common fisheries policy should take better account of the huge differences across European fleets and fisheries, give greater responsibility to fishing regions, address the problem of fleet overcapacity and improve the traditional quota system, according to a non-binding report adopted by Parliament on Thursday.
more »
The EMU framework and economic governance within the eurozone need to be revamped.
more »
Young people should be a priority in EU action next year, it emerged on Tuesday, as the Budgets Committee started work on the EU's 2011 budget.
more »
European Investment Bank (EIB) support for EU regional policy is crucial for tackling the economic crisis, EIB President Philippe Maystadt told the Regional Development Committee on Monday.
more »
Three thousand former car, refrigerator and construction workers in Germany and Lithuania could get €7.6 million in EU globalisation adjustment fund aid for training, self-employment and professional orientation under plans approved by the Budgets Committee on Tuesday.
more »
Today, 22 February, the EU Council of Agriculture and Fishing in Brussels, under the chairmanship of the Spanish Minister, Elena Espinosa, will analyse the impact of the economic crisis on the Greek agricultural sector, which has experienced a drop in prices and income, with small farms that pose an obstacle for the producer for negotiating with large distribution chains.
more »
Municipal policies to tackle the crisis and their application at EU level will be discussed during the three days of the summit entitled, “Networked Local Governments for a New Europe”, which will bring together representatives from 260 cities in Barcelona.
more »
The EBRD is promoting energy efficiency and renewable energy projects in Moldova, helping the economy to reduce its energy intensity with a new €20 million credit line for on-lending to local private companies.
more »
The EBRD is lending $1.2 million to Salkyn, one of the largest ice cream producers in Turkmenistan, to help the company expand its distribution network and build up its brand.
more »