 |
Louisiana Light • 3 days | 72.39 | +1.98 | +2.81% | ||
|
Bonny Light • 2 days | 75.19 | +1.17 | +1.58% | ||
|
Opec Basket • 3 days | 72.79 | -0.28 | -0.38% | ||
|
Mars US • 1 day | 71.39 | +1.89 | +2.72% | ||
|
Gasoline • 1 day | 2.501 | +0.065 | +2.65% |
|
Bonny Light • 2 days | 75.19 | +1.17 | +1.58% | ||
|
Girassol • 2 days | 77.03 | +1.40 | +1.85% | ||
|
Opec Basket • 3 days | 72.79 | -0.28 | -0.38% |
|
Peace Sour • 2 days | 64.35 | +2.01 | +3.22% | ||
|
Light Sour Blend • 2 days | 65.65 | +2.01 | +3.16% | ||
|
Syncrude Sweet Premium • 2 days | 74.60 | +2.01 | +2.77% | ||
|
Central Alberta • 2 days | 63.95 | +2.01 | +3.25% |
|
Eagle Ford • 3 days | 66.58 | +2.01 | +3.11% | ||
|
Oklahoma Sweet • 3 days | 66.50 | +2.50 | +3.91% | ||
|
Kansas Common • 4 days | 58.25 | -1.50 | -2.51% | ||
|
Buena Vista • 12 days | 76.15 | -1.09 | -1.41% |
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South Korea Investing in Kazakhstan Energy Projects
South Korean President Lee Myung-bak is currently visiting Kazakhstan. In one result of Lee’s visit, South Korea and Kazakhstan have signed agreements for two $4 billion projects to build a thermal power plant and a petrochemical complex in the Central Asian nation.
Under the terms of an inter-government agreement signed during President Lee's state visit, South Korea is guaranteed 70 percent stake in a $4 billion project to build a coal-fired power plant in the southern city of Balkhash, the United Arab Emirates Wakalat Anba’a al-Emarat news agency reported.
South Korea’s Korea Electric Power Corp (KEPCO) and Samsung C&T currently hold a 35 percent stake each in a project to build a 1,320-megawatt coal-fired power plant in Balkhash that when online, is expected to generate about 7 percent of Kazakhstan's electricity needs.
Further west, South Korea's LG Chemical and Kazakhstan Petrochemical Industries (KPI) signed a contract to establish a joint venture to develop a $4 billion project to build a petrochemical complex in Atyrau on the northern banks of the Caspian.
Despite the global financial crisis bilateral South Korean-Kazakh trade in 2010 grew by 50.3 percent to $760.1 million. Kazakhstan and South Korea intend to bring up the trade turnover to the pre-crisis level of $900 million per annum. Kazakh President Nursultan Nazarbayev told a joint press conference with President Lee in the Kazakh capital Astana, “We hope to reach the pre-crisis level as early as this year.
By. Charles Kennedy, Deputy Editor OilPrice.com
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