Tag Archives: government

Editorial: Nazarbayev’s reshuffle

JUNE 24 2016 (The Conway Bulletin) – When Kazakh president Nursultan Nazarbayev reshuffles his top government officials, it’s time to start thinking about the politics of succession.

The latest reshuffle is an important one. Apart from the PM post, held by Karim Massimov, one of Mr Nazarbayev’s most trusted aides, the head of the presidential administration, the speaker of parliament and mayor of Astana are some of the most important and high-profile posts that he can hand out.

Mr Nazarbayev has promoted the slick, media-savvy Asset Issekeshev to be major of Astana, Adilbek Dzhaksybekov was shifted from that position to head of the presidential administration and Nurlan Nigmatullin, was moved to be speaker of parliament.

All are now guaranteed to play a role inMr Nazarbayev’s plans but perhaps the most eye-catching is the promotion ofMr Issekeshev. He will now be the face of EXPO-2017 in Astana, one ofMr Nazarbayev’s pet project. If that goes smoothly, there could be even more important roles forMr Issekeshev.

ENDS

(Editorial from Issue No. 286, published on June 24 2016)

Kazakh oil revenues fall

JUNE 15 2016 (The Conway Bulletin) – Kazakh officials said production of oil and gas makes up around 17% of the country’s GDP, a proportion eight percentage points lower than in 2015. The fall in oil prices has impacted both feasibility and profitability at Kazakhstan’s oil and gas fields. This is an important measure of the impact of the drop in oil price on Kazakhstan’s economy.

ENDS

(News report from Issue No. 285, published on June 17 2016)

Kazakh airline to prepare an IPO

JUNE 16 2016 (The Conway Bulletin) – Peter Foster, CEO of Kazakhstan’s flagship airline Air Astana, said the company will seek financial advisors this autumn to prepare an IPO in 2018. Mr Foster said that the company will list in Kazakhstan and in other more liquid markets, such as London or Singapore. Britain’s BAE Systems owns 49% of Air Astana, Kazakhstan’s sovereign wealth fund Samruk-Kazyna owns 51%.

ENDS

(News report from Issue No. 285, published on June 17 2016)

Georgian Parliament approves constitutional changes

JUNE 3 2016 (The Conway Bulletin) — The Georgian Parliament voted to approve an earlier veto that President Giorgi Margvelashvili had imposed on a controversial bill designed to change rules and procedures for the country’s Constitutional Court. The previous week, Mr Margvelashvili had imposed a veto on the bill, after it received criticism from international observers.

ENDS

(News report from Issue No. 284, published on June 10 2016)

Kazakhstan wants better Karachaganak deal

ALMATY, JUNE 2 2016 (The Conway Bulletin) — The Kazakh government has rejected a $300m settlement for a $1.6b fine it levied at the consortium of companies developing Karachaganak, the FT reported quoting Kanat Bozumbayev, Kazakhstan’s energy minister, fuelling speculation it may want to leverage a bigger stake in the project.

Mr Bozumbayev said the government had dismissed a settlement offer from the consortium.

“It has already returned the investment shareholders made, and now it will give Kazakhstan profits, so we are negotiating,” Mr Bozumbayev said.

This week, Bloomberg quoted unnamed sources as saying that Kazakhstan is seeking to increase its share in the consortium, led by Eni (29.25% stake), Shell (29.25% through BG), Chevron (18%), Lukoil (13.5%) and state-owned Kazmunaigas (10%).

Kazmunaigas gained its 10% stake in Karachaganak in 2011 after settling a lawsuit against the consortium for tax evasion and environmental damage.

ENDS

(News report from Issue No. 283, published on June 3 2016)

Kazakh President sacks senior officials

JUNE 2 2016 (The Conway Bulletin) — Barely two weeks after the Kazakh authorities quashed unsanctioned protests with dozens of arrests around the country, President Nursultan Nazarbayev sacked Yerlik Kenenbayev, the Presidential Administration’s police supervisor/adviser, and Nurmakhanbet Isaev, the deputy prosecutor. Mr Nazarbayev did not explain the sackings, but analysts have said it could be linked to the May 21 protests.

ENDS

(News report from Issue No. 283, published on June 3 2016)

Azerbaijani President to bail out mining company

MAY 27 2016 (The Conway Bulletin) — Azerbaijan’s President Ilham Aliyev said that the state was ready to buy the Aimroc mining company, which is alleged to be linked to his family. The company closed in 2014, as it ran into financial difficulties exploiting the Chovdar mine in western Azerbaijan. Aimroc’s name appeared in numerous investigations that linked its opaque offshore business to the presidential family. By presidential decree state-owned Azerigold will take over Aimroc.

ENDS

(News report from Issue No. 283, published on June 3 2016)

Uzbekistan receives loan from World Bank

MAY 25 2016 (The Conway Bulletin) — The World Bank sent a $20m loan to Uzbekistan to fund the update of the cadastre system, through which the government registers properties. Outdated registers and complicated bureaucratic procedures, as well as rampant corruption and a lack of legal protection for companies, have kept Uzbekistan among the worst countries to do business in.

ENDS

(News report from Issue No. 282, published on May 27 2016)

Georgia to receive pipeline fees

MAY 20 2016 (The Conway Bulletin) — Georgia’s PM Giorgi Kvirikashvili said that he hopes to receive 1b cubic metres of gas annually as payment in-kind for the transit of Azerbaijani gas through Georgia via the Southern Gas Corridor. Azerbaijan will pump 16b cubic metres of gas through a network of pipelines, called the Southern Gas Corridor, to Europe. The project will be completed in 2019.

ENDS

(News report from Issue No. 282, published on May 27 2016)

Kazakhstan to receive loan from World Bank

MAY 26 2016 (The Conway Bulletin) — Kazakhstan’s Parliament ratified an agreement to receive a $1b loan from the World Bank’s International Bank for Reconstruction and Development, a cash injection that the government will use to pay for expenses in 2016. Kazakhstan’s finance ministry and the IBRD had agreed on the loan on May 11.

ENDS

(News report from Issue No. 282, published on May 27 2016)