Kazakhstan news for March 11, 2010

In this issue:

2 Corporate news
2 Chevron close to resuming BTC shipments
2 Kazakhmys undecided on ENRC stake
2 KMG EP preference shares see KASE trading and first buyback trade
2 Uranium One posts FY09 loss; sees higher '10 production
2 Upcoming events
3 Industry news
3 Chevron close to resuming BTC shipments
3 EBRD supports private ownership in Kazakhstan’s oil and gas sector
4 Politics and Economics
4 Majlis passed bill of guaranteed transfer from National Fund for 2010 - 2012
4 Kazakhstan’s foreign reserves rise 3.4 percent in February
4 National Bank not plan to reconsider refinancing rate
5 KASE & Market wrap
6 AFS-Research productline
7 AFS Research services
 

Chevron close to resuming BTC shipments
 

Tengizchevroil, the Chevron-led joint venture developing the giant Tengiz oil field, is reportedly close to resuming crude oil transportation via the Baku-Tbilisi-Ceyhan (BTC) pipeline, an Azeri energy official said on Tuesday.
“According the my information, the sides are close to an agreement and may resume oil shipments from the Tengiz oil field via the BTC,” Vagif Aliyev, chief of the Investment Department of the Azeri state oil company SOCAR told reporters. Tengizchevroil suspended oil exports via the BTC pipeline in January, after it failed to reach an agreement on tariffs with the BP-led pipeline operator. It has since used alternative export routes including a rail link to Georgia to export crude oil via Azerbaijan. In 2009, Tengizchevroil shipped 1.951 million tons of crude oil via the BTC pipeline, according to the Azeri State Statistics Agency. The company ships most of its crude using the Caspian Pipeline Consortium (CPC) pipeline, the Atyrau-Samara pipeline, and a rail link to the Black Sea port of Batumi. Tengizchevroil produced 22.53 million tons of crude oil in 2009. (10/03/2010 silkroadintelligencer.com)
 

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