Chavez called South America to create its own OPEC
Almaty. July 3. Kazakhstan Today - The President of Venezuela Ugo Chavez called the countries of South America, rich in hydrocarbons, to create their own Organization of Petroleum Exporting Countries (OPEC) Petrosur, the agency reports referring to news agency RosBusinessConsulting.
The President of Venezuela has expressed confidence that prices for oil have stabilized at the level of $140 for a barrel and will not likely to decrease lower than $100 for a barrel. He also declared readiness of the country to allocate $1 of each sold barrel for support of South American farmers, RBC cites Associated Press.
Venezuela is one of OPEC founders and the explored stocks of 310 billion barrels make it one the richest in hydrocarbons countries of South America.
Chavez has recently repeatedly declared that the United States should bear the responsibility for a record oil prices rise, but not OPEC. U. Chaves declared that the USA tries to put the whole blame for oil price increase on OPEC member countries, whereas the real reason of such price increase is "USA unquenchable thirst for fuel."
"The USA administration tries to incite world community against OPEC," U. Chaves said.
The leader of Venezuela also considers that it is necessary to found a bank of OPEC member countries, which will become an alternative to the American influence in the world. In U. Chaves's opinion, the new financial organization could keep part of currency reserves of OPEC member countries.
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Asian region has good potential to continue stimulating global growth and development in upcoming years - Tokayev
Asia is expected to ensure 60% of global GDP growth this year. The continent accounts for 53% of global trade and is home to some of the world's largest and most dynamic economies. Foreign direct investment in Asia has increased significantly in recent years. This region is also home to the world's leading technology centers which ensure 70% of patent developments. The continent has significant human resources, with 21 of the world's 30 largest cities located in Asia. Out of $30 trillion of middle class consumption growth by 2030, only $1 trillion is expected to come from Western economies. As a whole, all these factors point to the so-called "Asian Renaissance," he said.
In this regard, the Boao Forum for Asia became the embodiment of the Asian innovative approach to achieving universal economic progress. It has also proved to be an exceptional symbol of China's commitment to global development," he stressed.
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Olzhas Bektenov discussed with ENI Upstream Director Luca Vignati the implementation of joint projects and increasing Kazakh content at Karachaganak and Kashagan
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Olzhas Bektenov and representatives of Société Générale Bank discuss attracting private capital to Kazakhstan
As the Head of State Kassym-Jomart Tokayev noted, it is necessary to actively involve international banks to attract foreign investment in Kazakhstan. In this direction, the Government is ready for mutually beneficial partnership and will assist in the implementation of projects important for the country," Olzhas Bektenov emphasised.
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Kazakhstan set to reduce crop areas
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Kazakhstan-Qatar relations at new level: Governments on behalf of heads of state launched investment projects worth $17.6bn
Qatar is an important economic partner of Kazakhstan in the Arab world. The agreements reached during the visit of the Head of State Kassym-Jomart Tokayev to Qatar bring our investment co-operation to a qualitatively new level. We are on the threshold of implementation of large-scale and strategically important investment projects for an unprecedented amount of $17.6 billion," Olzhas Bektenov stressed.
There is a good political basis for strengthening co-operation between our countries. Earlier during the visit, our heads of state expressed readiness to bring cooperation to a higher level and implement a number of joint projects. Our today's meeting will make it possible to realise the agreements reached at the highest level. For our part, we are ready to explore new avenues to broaden and deepen cooperation," Sheikh Mohammed bin Abdulrahman Al Thani said.
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- projects for the construction of the Aktobe-Kostanai and Beineu-Bozoi-Shymkent trunk gas pipelines totalling about $7.7 billion aimed at developing gas supply to Kazakhstan's regions, ensuring natural gas supplies to backbone enterprises and the population of northern regions, and expanding the country's export opportunities;
- projects to build a power plant based on a combined cycle gas turbine with a capacity of 1100 MW and a hydroelectric power plant with a capacity of 350 MW for a total of about $2.7 billion, aimed at ensuring Kazakhstan's long-term energy security;
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Kaizen helps save raw materials and water in production
Last year, the plant underwent training on the implementation of the Kaizen lean production system," says Daniyar Kakimov, director of Ferrum Contract LLP. - We invited a trainer who taught employees the principles of Kaizen, introduced them to eight types of losses in production, and taught them how to find problem areas and quickly eliminate them. The training gave a positive result: employees learned to save raw materials, especially PET containers, glue and labels, and most importantly, water and electricity costs decreased. This saves money."
We plan to use part of the costs that QazIndustry reimbursed us for further improvement of production and technological processes, as well as for training workers and improving their competencies," shared D. Kakimov.
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Turkestan region has become the leader in investment in the furniture industry
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Ministry of Industry and Construction of the Republic of Kazakhstan supports the proposals of Kazakhstan designers for new approaches in the construction industry
These proposals are supported by the authorized body. Moreover, work on the first two proposals is already underway actively. We consider these proposals to be radical, timely, and well-founded" Timur Karagoyshin stated.
We support this initiative because, currently, these services not only duplicate each other but also dilute responsibility and act as a catalyst for the development of a corrupt environment" Timur Karagoyshin highlighted.
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