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KAZENERGY Eurasian Forum: The 2015 National Energy Report of the KAZENERGY Association

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In 2016, crude oil prices will rise, on average, to about $63 per barrel and in 2020 to about $80 per barrel.  Prior to 2035 the growth in demand for primary energy in the world is expected to average 1.3% per year and will be from 90 till 115 million barrels per day.  This data, as well as trends in the global energy industry will be presented in the 2015 National Energy Report of the KAZENERGY Association.  The report will be presented at the X KAZENERGY Eurasian Forum, 29 September – 1 October in Astana.

oil price

The National Energy report includes the most recent information on the oil and gas sector: projections for economic growth, the role of energy in the country’s economy in the coming years, the analysis of the structure of government and state regulation, the analysis of energy consumption in the world, forecasts of production volumes in the country, investment attractiveness and etc.  According to the data,International investment climate in the hydrocarbons sector has high competition, especial in regards to oil.   Experts predict a rise in oil production by non-OPEC projects within the scalable production of unconventional methods, ending the 10-year-old “super cycle” of pricing commodities, slowing demand growth in China, as well as disinvestment by international oil companies and independent players. Therefore, it is possible to see where it leads at the X KAZENEGRY Eurasian Forum.

The focus of the three-day deliberations of the Xth KAZENERGY Eurasian Forum will be all at significant events of contemporary energy and political agenda, transforming the oil, gas, and energy markets.  Also to be considered will be the integration processes, formation of long-term trade, economic and energy partnerships, ensuring global energy security, especially in the European and Asian regions.

It is important to note that the experts in the industry will visit the site again , including the heads of state agencies, top managers of national and international energy companies, and leading industry experts: Prime Minister of Kazakhstan Karim Massimov, former Prime Minister of France(2007-2012), François Fillon, the special representative of the UN Secretary General and CEO of the Initiative on Sustainable Energy for All (SE4All) Dr. Kandeh K. Yumkella,  Director General of the International Renewable Energy Agency (IRENA), Adnan Z. Amin, President of the World Petroleum Council, JosephToth,  Secretary General of the International Gas Union (IGU) Paul Rasmussen and others.

The program of the Forum provides for joint activities with experts from the International Energy Agency (IEA), the International Renewable Energy Agency (IRENA), the Energy Charter Secretariat, the World Petroleum Council (WPC), the Society of Petroleum Engineers (SPE), and other organizations.

The Forum plans to conduct an oil and gas conference on the establishment of the Silk Road Economic Belt: “Energy Security in the Eurasian Region: A New Mechanism for Cooperation.”   The conference is to be held about the proposal of the Chinese Academy of Engineering, and is associated with the initiative to create the economic zone of the Silk Road, launched during the meeting of the heads of state of the Republic of Kazakhstan and China in September 2013.

More information about the Forum’s program can be found here: http://kazenergyforum.com/.

 

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MEP Vasile Blaga points out that certain inaccuracies in CVM reports have affected Romania‘s entrance to the Schengen area

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© Vasile Blaga/Facebook

MEP Vasile Blaga (PNL, EPP) considers that Romania remains politically committed to fulfilling the recommendations made in the CVM report.

At the same time, Vasile Blaga underlined in a critical note the fact that for 14 years, he witnessed the effects of CVM in Romania, which brought to our country both advantages and disadvantages: “On the other hand, as a direct witness of the application CVM in Romania in the last 14 years, I can say that it has brought many good things to my country, but also sometimes inaccuracies in reporting that have been politically speculated especially by nationalist and sovereignist politicians, but also by partners in the European Union who, even if informally, they relied on reports prepared by the European Commission to block our entry into the Schengen area ”.

In this regard, the Romanian MEP asked Vera Jourova if CVM will continue to operate in parallel with the mechanism on the rule of law: “For me, it is obvious that the two overlap both in terms of evaluations and evaluation methodology. In the end, it is democratic that absolutely all Member States should be subject to the same standards “, he concluded in his speech in the European Parliament.

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AmCham: Romania’s capital market upgrade to emerging market status sends a positive signal to investors

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AmCham Romania joins private partners and the authorities in welcoming Romania’s upgrade to secondary market status by FTSE Russell, the world leader in stock market indexes classification. This marks the achievement of a shared strategic goal pursued with dedication by the private stakeholders and regulatory authorities alike.

“AmCham Romania primarily focuses on supporting initiatives that contribute to increasing the investment flows in Romania, such as the upgrade of the capital market. The promotion by FTSE Russell sends a positive signal towards the investors’ community, but is also an encouragement for all parties involved so far in making this goal a reality to continue their collaboration, which remains as necessary after this long-awaited moment. The upgrade to emerging market opens Romania’s access to significantly higher investment flows and allows us to play in a higher league. This comes in a context of global economic turmoil, which can only send a positive signal to current and potential investors and is expected to have a multiplier effect on the economy” said Ionuț Simion, AmCham Romania President. 

Romania’s qualification for secondary emerging market status, after a three-year monitoring period, announced in September 2019 and applicable from September 2020, confirms the removal of barriers and improvements in the quality of trading infrastructure and of the regulatory framework.

“I would like to reiterate that the success we welcome today proves that through partnership and cooperation we can achieve positive results for the economy at large. At the same time, it holds all of us responsible to remain committed towards the immediate objectives for the Romanian capital market, such as upgrade to emerging market status by MSCI. Midterm, in AmCham’s vision, the development of the capital market should focus on meeting the next level of performance needed to qualify as primary emerging market, and eventually, the upgrade to developed market status. In this regard, we will strongly support the need for state-owned enterprises to be listed, which in addition to the benefits of attracting capital inflows, will create the framework for consolidating their corporate governance. The development of the capital market will also need measures to incentivize the listing of private companies, as a means to diversify their financing sources, which requires both vision and a favorable, stable legislative and fiscal framework, for which we rely on the involvement of the responsible authorities”, pointed Cristian Agalopol, Chair of the AmCham Romania Capital Markets and Financial Services Committee.

FTSE Russel performs an annual review of the countries’ classification in the four categories – developed markets, advanced emerging, secondary emerging and frontier, by analyzing 21 criteria that are related to the regulative framework, custody and settlement, dealing landscape, derivatives.

The American Chamber of Commerce in Romania (AmCham Romania) is for over 25 years a leading representative of the business community in Romania, and is acknowledged as a promoter of the private-public dialogue on matters related to the business climate, public policies that impact Romania’s economy and competitiveness or the economic ties between Romania and the U.S.

Currently, AmCham Romania’s over 450 members – U.S., international and Romanian companies allow AmCham to engage in promoting the business priorities for many industries, through dedicated working groups, such as: Capital Markets & Financial Services, Corporate Governance, Competition and State-Aid, Education, Energy, Environment, Health, Digital Economy, Labor, Structural Funds, Public Procurement and PPP, Real Estate, Taxation and Tourism.

AmCham Romania’s connection with the international business is granted by its accreditation by the U.S. Chamber of Commerce and its affiliation to AmChams in Europe. In Romania, AmCham enjoys a great institutional collaboration with the U.S. Embassy in Bucharest and is a member and contributor to Coaliţia pentru Dezvoltarea României, the informal consultation platform supported by business associations that share the same objectives.

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Presidents of Romania, Lithuania and Poland: We state our will to support the people of Belarus in building a democratic path

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© Administrația Prezidențială

The President of Romania, Klaus Iohannis, the President of Lithuania, Gitanas Nauseda, and the President of Poland, Andrzej Duda, state their will, in a joint statement, to support the people of Belarus in building a democratic path and appeal to the international community to join the EU and its member states in the demarche of preparing a positive agenda for Belarus, together with a package of support for the political, economic and social transition of the country.

“We, the Presidents of Lithuania, Poland and Romania, as member states of the European Union: supporting firmly liberty and the promotion of democratic principles, emphasizing that free, fair and transparent elections are a fundamental democratic right of any nation, admitting as legitimate the results of the elections only if they are organized in agreement with the International Covenant on Civil and Political Rights and are monitored internationally, explicitly admitting that no one but the people of Belarus has the right to decide the destiny of their country, reassuring on our respect for such a decision made on legitimate bases, understanding that a prosperous Belarus, built on social trust and a common vision, is essential for a more stable and safer Europe, we declare our will to support the people of Belarus in building a democratic path, through a state leadership which is democratically elected, a free civil society, free market and the rule of law,” shows the statement of the three heads of states.

The joint statement titled “Proposal for a democratic Belarus” is available here.

The three heads of state show that they offer expertise and know-how for the path of political and economic reforms, to build independent institutions and to ensure an environment where respect for human rights and freedom of expression are an unshakeable fundamental norm of society.

They believe that, in the demarche to support the people of Belarus, it’s useful for the European Union – as a major global economic power – propose a package of assistance for the economic transformation of a democratic Belarus which should include, inter alia: the facilitation of commerce with the European Union and assistance for accession negotiations with the World Trade Organization; a liberalized visa regime, when the necessary conditions are met; assistance to diversify the energy sector and for the energy security of Belarus; access to financial resources to restructure and relaunch the liberal economy of Belarus; increased presence and activity of the international financial institutions to reform the economy of Belarus and to increase investment.

“We address an appeal to the international community to join the European Union and its member states in the demarche of preparing a positive agenda for Belarus, together with a package of support for the political, economic and social transition of the country”, the three presidents concluded.

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