Kazakh Premier Instructs to Nationalize Oil Company

Excerpt from report by Russian internet news agency Regnum, specializing in regional reporting

At a government conference call held on 2 June, Kazakh Prime Minister Karim Masimov set the heads of the Ministry of Energy and Mineral Resources, the [Kazakh] Samruk Holding joint-stock company and the KazMunayGaz state oil company a task to buy the Mangystaumunaygaz oil and gas open joint-stock company’s controlling package of shares for state ownership in the shortest period of time, the Kazinform news agency reports.

“I have issued instruction related to buying the Mangystaumunaygaz open joint-stock company, implementation of which was delayed,” Masimov told the heads of the Ministry of Energy and Mineral Resources, the Samruk holding company and the reappointed chief of the KazMunayGaz [state oil company], Serik Burkitbayev.

“I am again setting you a task to buy not less than 51 per cent of the Mangystaumunaygaz joint-stock company’s controlling package of shares for state ownership,” the prime minister said.

[Passage omitted: one of the government meeting to be dedicated to this issue]

Originally published by Regnum news agency, Moscow, in Russian 0948 2 Jun 08.

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