Kazakhstan news for February 25, 2010

In this issue:

2 Corporate news
2 Tristan Oil to sell Kazakh subsidiaries
2 Dragon announces solid FY2009 results and strategy update
2 Centerra reports weak FY2009, but increases reserves 26%
2 Upcoming events
3 Industry news
3 Chinese Construction Firm to Build $728 Million Hydropower Plant in Kazakhstan
3 Diesel oil subsidy needs to introduced in budget amendments
4 Politics and Economics
4 China invested in economy of Kazakhstan - $8 billion
5 KASE & Market wrap
6 AFS-Research productline
7 AFS Research services

 

Tristan Oil to sell Kazakh subsidiaries
 

Tristan Oil, a Kazakhstan-focused oil company, announced last Friday it will sell its subsidiaries Kazpolmunai and Tolkynneftegas to Cliffson Company Ltd, a special purpose vehicle controlled by Kazakh interests.
The deal is scheduled to close by April 30, 2010, pending the fulfillment of several purchase agreement conditions, including obtaining necessary regulatory approvals and agreements with creditors.
Tristan Oil, owned Moldovan oligarch Anatol Stati, faced tax claims and a threat of criminal prosecution, which the company claimed were politically motivated. (24/02/2010 silkroadintelligencer.com)
 

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