Economy

MONTREAL - South Korea President Lee Myung-bak returned home last week from a tour of Mongolia, Uzbekistan and Kazakhstan that helped to raise his country's profile and project its foreign economic diplomacy across Inner and Central Asia while significantly expanding Seoul's ties with the three countries.

(SRI) - Kazakhstan's oil wealth has had a positive effect on economic growth but the country needs to step up its efforts to develop other sectors of the economy, the International Monetary Fund (IMF) said in a report published last week.

mash nanLONDON, Aug 18 (Reuters) - Kazakh miner ENRC will need to bring robust independent voices onto its board to remain attractive for minority shareholders if one of its founders decides to seek a more active role as director, analysts and investors said.

peak_oilFORTUNE -- In May, less than a month after the blowout of the Deepwater Horizon oil rig in the Gulf of Mexico, a key milestone was achieved with little notice: Total U.S. supplies of petroleum and products refined from it (including the Strategic Petroleum Reserve) surpassed 1.8 billion barrels, reaching the highest level in the last 20 years. Since then the total has continued to edge upward, hitting 1.87 billion barrels in the week ended August 27, according to the Energy Information Administration.

(SRI) - A federal bankruptcy judge has denied BTA Bank's attempt to use U.S. bankruptcy law to shield it from an overseas legal proceeding, a ruling that limits the reach of the U.S. bankruptcy court in foreign insolvency disputes.

nytimesULAANBAATAR, MONGOLIA — The fate of the massive deposits of lithium recently discovered in Afghanistan is destined to be no different from that of landlocked Central Asia's other natural resources: tapped by the West, and eventually controlled by the East.

neft_3The second phase of development of the Kashagan oil field has been postponed until 2018-2019, local newswires reported on Thursday, citing the chief executive of Kazakh oil and gas company KazMunaiGas.

March 25 (Bloomberg) -- China Petroleum & Chemical Corp., the Hong Kong-listed company known as Sinopec, won a contract to build a $1.7 billion polypropylene plant in western Kazakhstan.

tubesALMATY (Reuters) - China's insatiable demand for energy to power its economy has made it a serious contender in the fight for control over vast energy resources in its thinly populated and impoverished western backyard.

March 11 (Reuters) - Energy-hungry China is stepping up its presence in former Soviet Central Asia by handing out billions of dollars in loans, snapping up energy assets and building a gas pipeline from Turkmenistan.

 

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