Kazakh Government Recognises Argus as Official Source of Market Information

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Feb 07, 2012, 07:17 ET

LONDON and ASTANA, Kazakhstan, Feb. 7, 2012 /PRNewswire/ -- Global energy price reporting agency Argus has been included in the lists of official sources of energy market information in the Republic of Kazakhstan.

Kazakhstan's prime minister Karim Masimov has signed the government resolution on officially recognised sources of "market pricing information", which came into force on 1 January 2012. Earlier, in late December 2011, he signed a ruling recognising Argus as an official source in domestic crude and products pricing, which is expected to come into force shortly.

Argus has been working with Kazakhstan's energy sector for over 15 years, co-operating with the government authorities and energy companies. Argus provides international and domestic price indexes for crude and oil products to local producers and exporters, continuously improving its transparent reporting methodology to reflect changes in commercial practice. Argus prices are widely used by Kazakh companies and the Kazakh government, and Argus has been listed in the Kazakh Tax Code as a source of international crude market information since 2009.

The approval of the most recent official sources lists will enable the fiscal authorities and taxpayers in Kazakhstan to use a wide range of price information to apply Argus prices in international and domestic business operations.

"We are pleased to strengthen our status as an official pricing information source and to be officially listed as providers of important pricing information by the government of Kazakhstan. Our role in reporting energy prices brings transparency to the markets, allowing transfer pricing and tax calculations to be made with confidence. No other company can match Argus in terms of the quality and quantity of professional staff reporting energy markets in the region," Argus Media chairman and chief executive Adrian Binks said.

For more information please contact:

Vyacheslav Mischenko in Moscow
+7 495 933 7571, [email protected]

Seana Lanigan in London
+44 20 7780 4200, [email protected]

About Argus:

Argus Media is a leading provider of price assessments, business intelligence and market data on the global crude, oil products, natural gas, electricity, coal, emissions, bioenergy, fertilizer and transportation industries. Argus prices are used extensively by energy companies, governments, banks, regulators and other organisations as reference prices in physical supply and derivative contracts, for mark-to-market purposes, as an indication of value for tax assessment, for risk management and for strategic analysis and planning. Argus is headquartered in London and has offices in Houston, Washington, New York, Portland, Calgary, Johannesburg, Dubai, Singapore, Tokyo, Beijing, Sydney, Moscow, Astana, Kiev, Santiago and other key centres of the energy industry. Argus was founded in 1970 and is a privately held UK-registered company. Learn more at www.argusmedia.com.