Download Economics of the Caspian Oil and Gas Wealth: Companies, by Y. Kalyuzhnova PDF

By Y. Kalyuzhnova

This e-book explores the fiscal demanding situations focused on handling hydrocarbon wealth in the Caspian area, and appears at how to design an optimal power coverage. The e-book draws on the Author's adventure in facing the governments of the quarter, and her knowledge of the role of significant businesses within the region.

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Extra resources for Economics of the Caspian Oil and Gas Wealth: Companies, Governments, Policies

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7 This table an easily be explained by the fact that in 1996 the newly independent Kazakhstan was going through a severe recession and an economic crisis occasioned by transition. ) and finding their new place in the economic system. The nostalgic thoughts about the period of 20 years ago can be explained by sociological and emotional points of view, as well as the age factor (the age brackets 31-40 and 41-50). The respondents were asked to name (by their own choice) the main reasons for being less happy than 20 years ago.

This situation was tolerated by the Kazakh government because it did not have the resources for an alternative policy and there was no external threat to the survival of the state. The principal security risk that preoccupied Nazarbayev was the stability of the country and its economy. Kazakhstan was not seriously threatened by overspill of conflict from other areas, such as Tajikistan or the Ferghana Valley. Potential points of conflict with China related to the risk of uncontrolled immigration from China, the demarcation of the border between the two countries, and the Uighur rebels who were committing terrorist actions in Xinjiang province from bases in Kazakhstan.

Foreign investment in oil exploration and production brought about a partial recovery of the economy, although the fall in the oil price in 1998 hit Azerbaijan hard. Foreign investment in non-oil industries is considered to be high risk. 75 mln bbl. Onshore and offshore operations are controlled by the State Oil Corporation of the Azerbaijan Republic (Dekmejian and Simonian, 2003). Azerbaijan remains a 'reformist autocratic state' under the leadership of Aliyev's son Ilham Aliyev. The blatant manipulation of elections and the failure to deliver on economic development means that there is a latent potential for unrest.

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