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Photo courtesy of neftegaz.ru
Weakest return for Norway sovereign wealth fund since 2011

The world's biggest sovereign wealth fund, Norway's public pension fund, posted a 2.7-percent return in 2015 owing to real estate and the global stock market recovery.

Weakest return for Norway sovereign wealth fund since 2011
Putin says agreement sealed with Russian oil firms to freeze output

Russian President Vladimir Putin said Wednesday that he had sealed a pact with the country's oil majors to freeze production.

Putin says agreement sealed with Russian oil firms to freeze output
©Turar Kazangapov
Tenge slides 100% in 5 months; what next for Kazakhstan?

Amid falling oil prices and tenge exchange rate fluctuations, experts are wary to predict Kazakhstan's future.

Tenge slides 100% in 5 months; what next for Kazakhstan?
Iran boosts oil production by 500K, condemns new sanctions

Iran announced a major boost in oil production on Monday after the lifting of sanctions under its nuclear deal.

Iran boosts oil production by 500K, condemns new sanctions
©Tengrinews
Kazakhstan National Bank explains tenge depreciation and equilibrium rate

Kazakh National Bank Governor Akishev talks about mechanisms behind depreciation of the tenge and central bank’s role in shaping Kazakhstan

Kazakhstan National Bank explains tenge depreciation and equilibrium rate
©Turar Kazangapov
Inflation in Kazakhstan nears 13%, central bank admits

Inflation in Kazakhstan reached 12.8% in the end of November. National Bank's Akishev names tenge depreciation the main driver.

Inflation in Kazakhstan nears 13%, central bank admits
Stillframe from a Youtube video
Turkish Internet servers reeling under huge cyber attack

Turkish Internet servers are suffering a powerful cyber attack from abroad, slowing banking services and fanning fears.

Turkish Internet servers reeling under huge cyber attack
Oil price slump forces Azerbaijan to stop propping up currency

Energy-rich Azerbaijan, whose economy has been hit hard by falling oil prices, withdrew support Monday for its embattled currency and the manat plunged by nearly a third against the dollar.

Oil price slump forces Azerbaijan to stop propping up currency
Brent hits 11-year low as oil extends slide on glut worries

European benchmark Brent crude slid to an 11-year low on Monday as oil prices resumed their slide in an oversupplied global market facing the prospect of renewed US exports.

Brent hits 11-year low as oil extends slide on glut worries
Gulf monarchs seek united front at annual summit

Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates face regional divisions, but will struggle to find common ground.

Gulf monarchs seek united front at annual summit
Photo © Turar Kazangapov
Kazakhstan's national companies face major restructuring

Kazakhstani national companies will soon be facing a major restructuring.

Kazakhstan's national companies face major restructuring
Yerbolat Dossayev ©Central Communiations Service under the President of the Republic of Kazakhstan
Kazakhstan revises 2015 inflation rate forecast

Minister of National Economy Yerbolat Dossayev announced the increase of inflation corridor from 6-8 percent to 8-10 percent for 2015.

Kazakhstan revises 2015 inflation rate forecast
Reuters ©
Standard & Poors no longer takes Kashagan into account when assigning ratings to Kazakhstan

The project is likely to be regarded as ad addition to the current economic growth model that has been recently shaped: S&P’s Associate Director Karen Vartapetov.

Standard & Poors no longer takes Kashagan into account when assigning ratings to Kazakhstan
Iran and China to join construction of Kazakhstan's oil refinery

Kazakhstan is to construct its fourth oil refinery in cooperation with Iran and China.

Iran and China to join construction of Kazakhstan's oil refinery
OPEC chief confident of a balanced oil market in 2016

OPEC is confident that the oil market will be "more balanced" next year as non-OPEC production has contracted and global demand is increasing.

OPEC chief confident of a balanced oil market in 2016
Photo courtesy of RIA Novosti
Kazakhstan mulling privatization of oil refineries

Oil production in Kazakhstan in 2014 stood at 73.7 million tons. The three Kazakhstan-based oil refineries produced a total of 3.02 million tons of petrol.

Kazakhstan mulling privatization of oil refineries
Vice Minister of Energy Uzakbay Karabalin. Photo courtesy of primeminister.kz
Optimistic forecasts for Kazakhstani oil sector: 10th KazEnergy Forum

10th Eurasian KazEnergy Forum has gathered 2000 participants for three days in Kazakhstana's Astana city.

Optimistic forecasts for Kazakhstani oil sector: 10th KazEnergy Forum
Kurmangazy Iskaziev. Photo courtesy of KMG EP Public Relations
New CEO appointed at Kazmunaigas EP

Kurmangazy Iskaziev has been appointed the new General Director (CEO) of the Kazmunaigas Exploration and Production

New CEO appointed at Kazmunaigas EP
Clinton stands against controversial Keystone pipeline

After declining for months to announce her position on a major Canada-to-US oil pipeline, Democratic presidential hopeful Hillary Clinton said Tuesday that she is opposed to the controversial project.

Clinton stands against controversial Keystone pipeline
Abat Nurseitov. Photo courtesy of KMG EP press office
CEO of KazMunayGas Exploration Production resigns

General Director of KazMunayGas Exploration Production JSC (KMG EP) Abat Nurseitov has resigned from his post.

CEO of KazMunayGas Exploration Production resigns