Azerbaijan: 12 projects receive investment promotion documents

Twelve more entrepreneurs have received investment promotion documents worth a total of 106 million manats for their projects. The documents were handed to the entrepreneurs during the event organized by Azerbaijan’s Economy Ministry on July 29. Azerbaijan’s Deputy Economy Minister Niyazi Safarov said that despite the difficult economic situation in the world, Azerbaijan took systematic…

Ukraine: government approves of 1.21 billion UAH project for upgrading another section of Urengoy-Pomary-Uzhgorod gas pipeline

Ukraine’s Cabinet of Ministers has approved of the project on modernization and overhaul of the section 3,364.5-3,391.2 km of the Urengoy-Pomary-Uzhgorod gas pipeline. The corresponding decision is outlined in the Cabinet resolution No. 523-r dated July 22. The total cost of repairs of the section 26.7 km long was approved at 1.21 billion UAH, in…

Tajikistan seeking investors to resume operations at the loss-making fertilizer plant

Tajikistan is seeking investors for resumption of operations at the debt-ridden and loss-making fertilizer plant, which is located in the southern province of Khatlon. Tajik Minister of Industry and New Technologies Shavkat Bobozoda noted that some Chinese and European companies had shown interest in TojikAzot, the fertilizer factory located in the Tajik southern city of…

Tajikistan: gold output up in H1 2016

Over the first six months of this year, gold mining companies operating in Tajikistan have produced 2,096 kilograms of gold, up by 2% YoY, Tajik Minister of Industry and New Technologies Shavkat Bobozoda said. According to him, most gold has been produced by Tajik-Chinese joint venture – Zeravshan Gold Company (ZGC). “ZGC has reportedly produced…

Kyrgyzstan: economic growth down

Kyrgyzstan’s economic growth has decreased since the beginning of the year, Deputy Director of the Central Treasury of the Ministry of Finance Marlen Amandykov said. According to preliminary data, there was a negative GDP growth of 2.3%, which was below last year’s level by 9.1 percent. Nominal GDP amounted to 176 billion soms. The decline…

Kazakhstan: KMG EP oil output down

Kazakh oil company KazMunaiGas Exploration Production (KMG EP) produced 6.08 million tons of oil in H1 of 2016 including its stakes in subsidiaries and joint ventures, up by 0.7% YoY. KMG EP’s subsidiary Ozenmunaigas (OMG) produced 2.78 million tons, up by 2%, KMG EP’s subsidiary Embamunaigas (EMG) produced 1.41 million tons, also up by 2%…

Kazakhstan: oil output to drop

Many oil producing companies working in Kazakhstan observed negative financial result in 2015, according to Vice Minister of Energy Asset Magauov. As per an analysis, 36 companies out of 61 had a negative financial result, he noted. As the Vice Minister noted, drill footage dropped from 2,500 running meters to 1,500 running meters in 2015.…