Tuesday, December 29, 2009

Kazakhstan also has large oil wells.

Astana is the capital and business center of Republic Kazakhstan.A new cosmopolitan western-style city with skyscrapers and offices of intercontinental oil corporations.
The ninth largest country in the world and part of Eurasia.With 16.4 million people (2009 census), Kazakhstan has the 62nd largest population in the world.
Following the 1917 Russian Revolution, and subsequent civil war, the territory of Kazakhstan was reorganised several times before becoming the Kazakh Soviet Socialist Republic in 1936, a part of the USSR. During the 20th century, Kazakhstan was the site of major Soviet projects, including Khrushchev's Virgin Lands campaign, the Baikonur Cosmodrome, and the Semipalatinsk "Polygon", the USSR's primary nuclear weapon testing site.
An independent country on December 16, 1991, the last Soviet republic to do so.
The giant Karachaganak field.
The state-owned KazMunaigas, is negotiating to take a share in Karachaganak(one of three Kazakh oil deposits handed to foreign consortia for development in the 1990s). It is now operated by a group made up of BG and Italy’s Eni with US giant ChevronTexaco and Russia’s Lukoil.The talks over a stake come amid a tax dispute between Kazakhstan and the group.
The field holds an estimated 2.4bn barrels of oil and 15,000bn cubic feet of gas reserves. The group exports Karachaganak oil to world markets but sells gas from the field to a Russian-Kazakh joint venture at low prices.
The Caspian Sea region contains the third largest reserve of oil and natural gas in the world,rich abundant supply of accessible mineral and fossil fuel resources.The Caspian Sea area is landlocked, thus the only way to efficiently transport the oil to world markets is via pipeline.
One of the world's largest oil fields, the Tengiz in western Kazakhstan, was discovered in 1979.
Khazahstan Stock Exchange Index is now at 1,756.63 points.
Tracking the Dow,Tuesday 29/12/09.
9:30am:--A weak bull 20.0 points gap opener with spinning top.
10:30am:--Session high with shooting stars after prior attempt to fill up opening gap. Home Price Index,in-line with the consensus.The Consumer Confidence Index for December came in at 52.9,widely anticipated.
11:30am:--The opening gap being completely filled forming a graveyard doji.An inverted bull to find a retracement.
12:30noon:--Holding bearishly at bear pivot.A bullish harami sighted.
1:30pm:--Retrace to MAV resistance line but triple hangman giving sign of caution.
2:30pm:--Bears anad hangman below the MAV resistance line.
3:30pm:--A breakout of the MAV resistance line failed to reach the bull pivot.Graveyard doji and shooting star greeted this hour.
4:00pm:--A sudden crash with no basis just to take advantage of weak volume.
The graveyard doji looks threatening but it's not.It just switches off a small portion of Monday's upper candlestick body.
Wednesday is the pivot day of the week and the upper shadow has still room to be lighted up.
It's a new high of the year.The momentum is still there.