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Gold/Mining/Energy : Petrokazakhstan Inc. -- Ignore unavailable to you. Want to Upgrade?

To: FoxyLoxy who wrote (931)	3/21/2000 6:38:00 AM
From: a_player_2001	Respond to of 2357

Everyone realizes doing business in Kazakhstan is riskier than in a Mature Western Economy, but comparing Kazakhstan with Azerbaijan is like comparing Haiti with The Bahamas, or Burma with Thailand. Anyone who has been to the region will immediately see the differences, and in particular how rapidly Kazakhstan is adopting a western style economy and way of doing business, from which it would be very difficult to go back to a central command Economy full of Nationalised industries. To illustrate this point, here is a recent article: (This article is published by Interfax News Agency.) ALMATY. Nov 2 (Interfax-Kazakhstan) - "Seventy five percent of the Kazakh national economy has been privatized," Kazakh President Nursultan Nazarbayev has announced. Meeting with a government delegation from Germany's Lower Saxony in Almaty, he said that "an absolutely liberal" financial system has been created in Kazakhstan. He also said that Kazakhstan "has the ambition to become a useful member of the world community" and that the republic intends to enter the 21st century as "one of the top five oil-producing states of the world." The faith of foreign investors is illustrated here: San Francisco, Jan. 11 (Bloomberg) -- Chevron Corp., the No. 3 U.S. oil company, said it plans to spend $5.2 billion this year, excluding acquisitions, to boost oil and natural-gas production and keep its refineries operating. Chevron said it spent about $6.1 billion last year, including acquisitions. San Francisco-based Chevron plans to spend $3.6 billion, or 69 percent of the total, on trying to boost oil and gas output and reserves, with $1.3 billion earmarked for the U.S. Money will be spent in Kazakhstan, Angola, Nigeria, Thailand and Canada.