Kazakh Parliament approves energy bill

ASTANA, Kazakhstan (AP) — Kazakhstan’s parliament on Friday approved a bill giving the government priority in buying stakes in energy projects put up for sale in the oil-rich nation.

Foreign investors currently dominate the Central Asian country’s oil and gas sector.

The Kashagan field, which lies beneath the northern part of the Caspian sea and was discovered in 2000, has an estimated 4.8 billion tons of oil. Production there is expected to start in 2007-08.

http://biz.yahoo.com/ap/041105/kazakhstan_oil_1.html