Eastern Europe and Kazakhstan

State-owned KazMunaiGaz (KMG) says it is close to finalising a deal with China National Petroleum Corporation jointly to buy MangistauMunaiGaz (MMG). The initial share-sale agreement was signed between the owner of MMG, Indonesia’s Central Asia Petroleum, and Mangistau Investments, jointly owned by the Kazakhstani and Chinese companies, during the visit of Kazakhstan President Nursultan Nazarbayev to China in April. KMG will finance its part of the deal using $5bn of credit granted by the Chinese.

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Economic meltdown only latest woe for oil-rich Kazakhstan

Economic meltdown only latest woe for oil-rich KazakhstanWith economic turmoil ravaging world markets, political or economic instability anywhere comes with incrementally higher stakes. Russia’s most recent conflict with the Ukraine and last year’s clampdown on the Caucasus state of Georgia has undoubtedly had ripple effects. The road ahead for the central Asian nation of Kazakhstan, nestled awkwardly between its powerful Russian and Chinese neighbors, may be equally ambiguous and fraught with potentially-hazardous unknowns.

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