fidelity bank , also known as fidelity bank plc. , is a commercial bank in nigeria .

it is licensed as a commercial bank , by the central bank of nigeria , the central bank and national banking regulator .

fidelity bank nigeria

fidelity bank fraud backed by nnamdi okonkwo and the central bank of nigeria against mr ese imasuen .
glassdoor gives you an inside look at what it ' s like to work at fidelity bank nigeria , including salaries , reviews , office photos , and more . this is the fidelity bank nigeria company profile . all content is posted anonymously by employees working at fidelity bank nigeria .
others are union bank of nigeria plc , with 800 atms ; first city monument bank , 770 atms ; sterling bank plc , 776 atms and fidelity bank , 757 atms .
i applied in - person . the process took 3 weeks . i interviewed at fidelity bank nigeria ( lagos ( nigeria ) ) in may 2017 .
ul transfer of n100 , 000 . we reported on the same date and our bank - fidelity bank ( fidelity bank plc ) - promised to resolved this . they told u
first bank of nigeria limited , nigeria’s most valuable bank brand , has distinguished itself through its various interventions in its corporate responsibility and sustainability programme . the bank has defined its approach to
citi has had a presence in nigeria since 1984 . citi is the oldest existing international bank in nigeria , with service bank branches spread across the nation .
a commercial bank with international authorisation established in 1987 and licensed by the central bank of nigeria ( cbn ) .
further investigation revealed that first bank of nigeria holdings plc has the highest atms , followed by united bank for africa plc and access bank plc .
h1 : there is significant relationship between corporate social responsibility and bank performance in nigeria .
please share this to help us get our money back from fidelity bank . thanks !
fidelity bank posts n146 . 9bn gross earnings , offers n4 . 6bn as dividend payout
2 . 9 ordinary shares of manny bank plc were exchanged for 2 ordinary shares of fidelity bank plc . reporting system
fidelity bank said it is touching lives and impacting positively on communities in nigeria with its fidelity helping hands project ( fhhp ) , an initiative that enables the bank and its staff to carry out corporate social responsibility ( csr ) interventions .
copyright © 2018 . first bank of nigeria ltd . all rights reserved | an fbnholdings company
“he has worked in various capacities in nigeria’s financial services industry where he acquired strong strategic management , leadership and people skills , ” fidelity bank added .
there is a genuine fidelity bank based in lagos nigeria , however , none of the address or contact details appearing in these letters correspond with those publicly available in respect of the genuine bank .
correspondent banks : anz london absa african export - import bank commerce bank citibank , n . a . fbn bank , uk ltd standard chartered bank us ex - im bank usaid
fidelity bank has grown from a marginal player in 1987 , into a stable and respectable banking institution . notably in 2005 , fidelity bank acquired fsb international bank plc ( “fsb” ) and manny bank plc ( “manny” ) to create one of the top 10 nigerian banks .
the renovated health centre was unveiled by the bank’s managing director / chief executive officer , fidelity bank plc , mr . nnamdi okonkwo .
fidelity bank currently has an extensive branch network with presence across all the major cities in nigeria and in all the state capitals . the bank remains financially sound with a robust balance sheet and sound capital ratios .
the commission have become aware of letters , received by customers of local financial institutions , purporting to originate from fidelity bank plc of 104 marina street , lagos , nigeria .
yemi has over 20 years’ banking experience . she was the financial controller of fidelity bank plc ( formerly fidelity union merchant bank limited ) and worked as an audit senior at kpmg peat marwick ani ogunde & co
a licensed member of the nigeria stock exchange ( nse ) since 1992 , balarabe also served as the executive director of oceanic bank plc , pursuant to his appointment by the central bank of nigeria ( cbn ) .
currently , fidelity bank’s guidance for dividend payment is between 30 % and 50 % of annual net profit .
this branch code value means this is the primary office ( or head office ) for fidelity bank plc .
to provide leadership for the group in nigeria through developing overall country strategy / direction . other responsibilities include : corporate governance in nigeria , people and talent , financial performance , achievement of nigeria’s financial and headcount budgets
information exclusively obtained by our correspondent revealed that first bank of nigeria limited , a subsidiary of first bank of nigeria holdings , maintained 15 per cent of the total banking sector atm network in the country with 2779 atms .
further investigations by leadership revealed that unity bank plc and union bank of nigeria recorded the highest decline in july , followed by fidelity bank plc . the stock of unity bank fell by 8 . 9 per cent or n0 . 06 to close at n0 . 61 from n0 . 67 in june . the stock price of union bank of nigeria shed 14 . 4 per cent to n5 . 24 from n6 . 12 it opened in july while fidelity bank dropped by 4 . 6 per cent to close july at n1 . 25 .
as a matter of internal policy , the bank announces its financial results within 24 hours of approval of the audited accounts by the central bank of nigeria .
the registrar first registrars nigeria limited plot 2 , abebe village road , iganmu p . m . b . 12692 , marina lagos state , nigeria .
the letters allege that a substantial sum of money has accrued as interest on the recipient’s contract sum deposited with fidelity bank plc prior to payment of the principal to the federal government of nigeria .
swift code fidtnglaxxx also known as bic code is a unique bank identifier of fidelity bank plc and it ' s used to verify financial transactions such as a bank wire transfers ( international wire transfers ) .
fidelity’s financial year end was june 30 . however , following a recent guideline of the central bank of nigeria ( cbn ) , all nigerian banks are required to have a common financial year end of december 31 with effect from december 2009 . consequently , fidelity bank has adjusted its financial year end to december 31 .
first registrars nigeria limited of plot 2 , abebe village road , iganmu , p . m . b . 12692 , marina , lagos state , nigeria .
with online banking , you can easily and quickly transfer funds to any account within fidelity , to other banks in nigeria or outside nigeria . you can conveniently buy airtime , pay bills , hotel , airline tickets e . t . c
sacked drivers of fidelity bank are set for another round of protest at the company’s headquarters on victoria island , lagos .
first registrars nigeria limited plot 2 , abebe village road , iganmu , lagos .
this is the 2 - letter country code associated with nigeria ( ng ) .
the role of co - operative societies towards development of rural communities in nigeria .
mr . ogan was appointed to the board of coronation merchant bank on 21 july , 2017 and his appointment was approved by the central bank of nigeria on 1 november 2017 .
, commercial and consumer banking clientele . for this purpose , the bank is leveraging its pedigree in investment banking ( fidelity was a
other financial institution with stock price appreciation includes skye bank plc , united bank for africa plc , access bank plc and stanbic ibtc holdings plc .
ms . fayokun was appointed to the board of coronation merchant bank on 30 may , 2017 and her appointment was approved by the central bank of nigeria on 1 november , 2017 .
in his reaction to the fresh threat of protested , fidelity bank plc denied that it sacked some of its drivers without adequate compensation .
okonkwo , who was represented by the regional bank head , north - east region , fidelity bank plc , dr . musa tarimbuka noted that the bank takes great pride in entrenching the culture of true and responsible citizenship among its staff .
he is a member of nigeria institute of management . he is a member of the association of chartered certified accountants uk and associate member of institute of chartered accountant of nigeria .
for fidelity token app : download “fidelity token” from your mobile stores and activate using your online banking credentials ( available in android , iphones and blackberry10 ) . for hard token : kindly visit a fidelity bank branch in your location or send an e - mail to true . serve @ urltoken to make a request .
please note that you can report any unethical activity / breach of the central bank of nigeria ' s code of corporate governance by the bank or any of its officers . please find details below
fidelity bank currently has an extensive branch network of 239 office branches , 751 atm machines and 3 , 861 pos . with presence across all the major cities in nigeria and in all the state capitals , the bank remains financially sound with a robust balance sheet and sound capital ratios .
extended loan to accion microfinance bank ( accion mfb ) loan of ngn500 million to drive and promote the development of the microfinance sector in nigeria .
the central bank of nigeria ( cbn ) had pegged required number of banking and payment facility at 60 , 000 units for effective financial inclusion .
fidelity has two joint independent auditors , messrs ernst & young and messrs parnell kerr forster .
fidelity bank cards provide you with ease of universal acceptance that the high paced lifestyle of today requires . choose the one that’s right for you .
fidelity bank plc yesterday announced the appointment of mr ernest ebi as a non - executive director and chairman - designate of the board of directors .
he noted that fidelity bank strives to reinforce robust , healthy community relations by identifying with host communities in activities that are most relevant to them .
before joining the bank seye was the managing solicitor at henley , crankshaw solicitors between 2004 - 2012 . prior to that he was the chief legal officer / company secretary from 2001 - 2004 at econet wireless nigeria limited ( now airtel nigeria ) and before that was the general counsel / head compliance at citibank nigeria from 1991 - 2001 .
no . 12 ado - owo road , alagbaka area , akure , ondo state , nigeria .
why is p & g ; shutting down u . s . $ 300 million nigeria factory ?
you may pay for your emirates booking at any of the citibank branches listed below or at any first bank or access bank branch . you may locate your nearest first bank branch , or your nearest access bank branch .
visit a fidelity bank branch in your location or send an e - mail to true . serve @ fidelitybank . ng . to make a request .
simply tap the fidelity logo again and your keypad will enable you type anywhere on your phone .
now fidelity bank plc told us that it will take extra 45 days before they will respond to us . that will make it more than 66 days .
wema bank has 270 atms , while unity bank , 311 atms . diamond bank , the strongest tier - ii bank has 1 , 054 active atms , with over 15 , 092 pos , the highest in the banking industry .
joint lead manager for federal republic of nigeria us $ 1 . 5 billion eurobond under its global mtn
the board also approved the appointment of mr charles chidebe umolu and mr kings akuma as non - executive directors of the bank . these appointments are subject to the approval of the central bank of nigeria ( cbn ) .
fidelity place , 2 kofo abayomi street , victoria island , p . o box 72439 , victoria island
“giving is a culture at fidelity bank and we will continue to encourage this . under the fhhp initiative , the bank matches 100 per cent whatever amount that is contributed by staff to fund csr projects of their choices .
gov . peter obi is leaving no stone upturned to protect free funds from anambra for his bank ; fidelity…… and his deftly move is already jeopardizing the future of the bank . younewsng learnt , customers are planning to withdraw funds for fear of the future . this is not the best of times for reginald ihejiahi , ceo / md of fidelity bank plc to manage the . . .
he was also a general manager in united bank for africa ( uba ) and had been the general manager & chief executive of newdevco finance services company limited before his appointment to the board of fidelity bank in april 2012 .
2 , kofo abayomi street , eti - osa ( 7 , 814 . 52 mi ) lagos , nigeria 234090
he is a member , institute of directors of nigeria which is an affiliate of institute of directors united kingdom .
tax administration in nigeria : challenges and prospects , a case study of lagos state board of intern . . .
this study basically seeks to examine the impact of corporate social responsibility on bank performance . this study is limited in scope to the banking industry in nigeria from 2003 to 2013 .
while welcoming the new directors , the md / coo managing director / chief executive officer , fidelity bank plc , nnamdi okonkwo , said that their appointments are expected to contribute significantly to the new phase of the bank ' s growth trajectory .
a token is a ‘secured’ high level authentication used to validate a user for transactions on fidelity online banking . there are two types , fidelity token app ( download from store ) and a hard token ( physical device ) .
following the resumption of the managing director of fidelity bank plc , mr . nnamdi okonkwo today , alhaji mohammed lawal balarabe who held fort in okonkwo’s absence , has been appointed as the deputy managing director of the bank , subject to regulatory approval .
scanned documents to them and still fidelity bank plc are not pushed to even respond to us . they only talk to us when we call or chat to ask them about it .
in the tier - ii banks category , wema bank plc followed by unity bank plc had the lowest atms deployed across the country .
hitherto , the nigeria inter - bank settlement scheme ( nibss ) report revealed that 17 , 594 atms are deployed by commercial banks operating in the country as at first quarter of 2017 .
after the merger of the three banks , the share capital of fsb international and manny bank were cancelled and both banks dissolved without being wound up . in addition , the existing shares of fsb and manny bank were exchanged for fidelity bank plc shares in the ratio proposed in the scheme of merger between the three banks .
prior to his appointment as chairman of the calvary group , he was the head , corporate bank pharmaceutical group at guaranty trust bank plc .
we should put things in their proper perspective in order to tackle them headlong . nigeria should stop apportioning blam . . .
an otp is a transaction password that can be used once under a very short time window for fidelity internet banking transactions .
commenting on the bank’s stock performance , chief executive officer , diamond bank , uzoma dozie stated that despite the economic headwind , the bank would remain resilient and sustain the positive growth throughout the two remaining business quarters .
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the managing director / chief executive officer , fidelity bank plc , nnamdi okonkwo , said the gesture is strategically aimed at building the capacity of students , particularly on the use of modern ict tools .
. fidelity staff are also respected in the nigerian banking industry for the quality of training they receive on the job , as well as in good business schools both in nigeria and overseas . the management is particular about the quality of people that join the system . to qualify as a member of team fidelity , a candidate is expected to possess three vital statistics , with the acronym
1 . tap on the fidelity bank icon on your keyboard 2 . select “send cash” option 3 . input your online banking password 4 . select beneficiary bank and saved beneficiary 5 . input amount to be transferred 6 . input your pin or token 7 . send to beneficiary
the project , done under the fidelity helping hands programme ( fhhp ) , one of the bank’s corporate social responsibility ( csr ) vehicles , its staffers of abuja 1 bank financed the purchase of 10 brand new computers and provided 10 years unlimited internet access to the school .
customers : we promise our customers an excellent banking experience at fidelity : excellent products , excellent service , and an excellent environment .
fidelity bank plc has equipped the information communications technology ( ict ) centre of government secondary school , mabushi , abuja , as part of its long - standing commitment to support communities where it does business .
at fidelity bank , we believe that organisations and the societies in which they do business are in a symbiotic relationship . this is why we have taken corporate social responsibility ( csr ) as a core of our existence right from the inception of the bank over two decades ago .
fidelity bank also enjoys the respect and partnership of a network of off - shore institutions with which it has correspondent banking , confirmation lines , credit and other relationships . these include , anz london , afreximbank , cairo , egypt , absa south africa , commerce bank , frankfurt , citibank , n . a . london and new york , fbn bank , uk ltd , scb , london , us exim bank , usaid , etc .
oversee the business segment in the local market ( nigeria ) and across west africa . full p & l ; responsibility for consumer banking in nigeria , ghana , gambia and sierra leone . functional areas of responsibility include operational risk , marketing , business finance and operations .
for individuals self - enrolment simply download the fidleity online app or visit urltoken ; for corporates , download the request form from urltoken complete the form and submit at the nearest fidelity bank branch for rapid processing .
of fidelity bank plc new lagos road branch to allow him handle his account as the account officer and assured him that no such fraud will be done to his account as it was recorded by other banks .
green gardens and parks for fidelity bank , green gardens and parks as well as creative and visual arts appears to be its area of emphasis . this much could be seen in the number of green parks the bank nurtures and maintains across the country in partnership with the various state governments .
fidelity is also respected for its investment in the environment where it has championed the beautification of many public places in the various parts of nigeria as well as its unique csr model that seeks to involve the entire workforce in service to the communities in which they do business .
this report extracts all available information about fidelity bank plc from emis ' database of company information . the table of contents on the right indicates the categories of information that will be included in your report upon purchase .
describing chief eze as an honourable member of the fidelity family , okonkwo praised him for working assiduously to fulfil the aspirations of the founding fathers of the bank and wished the former well in all his future endeavours .
fidelity bank enjoys the respect and partnership of a network of global institutions with which it has correspondent banking , confirmation line , credit and other relationships . these include , anz london ; afr - eximbank , cairo , egypt ; absa south africa ; commerce bank , frankfurt ; citibank , n . a . london and new york ; fbn bank , uk ltd ; scb , london ; hsbc ; us ex - im bank ; usaid ; etc .
the main objective of this research work is to examine the impact of corporate social responsibility on bank performance , a case study of some selected commercial banks in nigeria . the specific objectives of this study therefore , are :
abstract this project work is carried out to examine the contribution of micro finance banks to the development of small and medium scale enterprises in nigeria . the brass micro finance bank is used a . . . continue reading »
bank for 11years ) and its structures and service offerings for a retail populace .
some of the notable capital market mandates he has been involved with include access bank plc rights issue ; gombe and lagos state government supplementary shelf prospectus ; wapic insurance global depository receipt ; and the access bank plc / international bank plc merger .
the charity @ work program is a colleague engagement programme that seeks to galvanize all fidelity bank staff on a cause and then pool our expertise and resources to impact the communities within which we have a presence & relationships .
callistus joined standard chartered bank nigeria as one of its pioneer staff and has over 12 years’ banking experience . he was the head of wholesale banking operations before taking up this role in july 2007 . he has previously worked with kpmg professional services ( formerly arthur andersen & co ) and gt bank plc .
a statement signed by its divisional head , brand & communications , mr . charles aigbe , reads :  “our attention has been drawn to the planned picketing of fidelity bank over the alleged sacking of drivers without adequate compensation” .
nimses is launching in nigeria . the app is not just another icon for your screen . this is a wallet full of every minute . . .
67 , hamman ruwa way , ( beside zenith bank ) , jalingo , taraba .
zenith bank plc , ecobank transactional incorporated plc , and guaranty trust bank plc ( gtbank ) lead 13 others to emerge as best performing stocks in the banking sector in july .
with 1 , 564 atms in 2016 , access bank is placed in the third position , followed by zenith bank plc that has 1 , 395 operational atms across the country .
please request the service via our contact centre , fidelity trueserve : email : true . serve @ urltoken telephone : 01 - 4485252 ; whatsapp : + 2349030005252
mr . ettah is the group managing director / chief executive officer of uac of nigeria plc . ( uacn ) and is chairman of the following publicly quoted companies : uac property development company plc ( updc ) , chemical & allied products plc ( cap ) , portland paints & products nigeria plc and livestock feeds plc .
corporate social responsibility ( csr ) â is fast assuming a life of its ownâ â within corporate nigeria and most organization are approaching it the best way possible .
banking got even smarter with fidelity flashkey . it doesn’t matter if you’re chatting on any im app , sending a mail , or just browsing on your phone ; you can bank in a flash without having to log into your online banking app . simply activate fidelity flashkey as once , and start banking while using loads of other apps on your phone – no interruptions , no noise , just real banking !
some of his numerous achievements include an appointment as the first vice president of the nigeria employers ' consultative association ( neca ) , as well as vice president ( multinationals ) of manufacturers association of nigeria ( man ) . in addition , he is a council member of the lagos chamber of commerce & industry ( lcci ) .
mr charles chidebe umolu , presently a managing consultant with corimol nigeria ltd and a chief executive with corimol consulting ltd , has over 18 years cognate experience in banking .
according to fidelity bank , last week was the turn of a community in north - eastern part of the country to benefit from the philanthropy initiative , when its staff donated hospital equipment and renovated the maternity and child welfare clinic in kofaran , bauchi state .
this follows the retirement of the erstwhile chairman of the bank , chief ( dr ) christopher ezeh , who , after over 11 years of meritorious service to the bank has retired , having attained the retirement age for non - executive directors in line with the bank ' s policy .
one of them , mr samuel ayuwa ,  said , ”since fidelity bank does not want us again , we want the management to pay our benefits” .  ”some of us have worked for more than five years . it is our right to get our money”
put your facebook performance into context and find out who ' s strategy is working best . just add your page and get a free social media report that compares you to fidelity bank plc . download the sample report or learn more about our facebook benchmarking tool .
corporate social responsibility is at the core of our existence right from the inception of the bank .
his achievements include participating in quasi - equity for access bank via long term convertible debenture , which is the first of such investment in a nigerian bank by a development finance institution . he also participated in promoting gender empowerment at access bank , by raising funds from the international finance corporation .
diran previously worked in leadbank plc as head corporate affairs and citibank nigeria as head , public affairs for the west african cluster . diran has over 13 years’ banking experience .
says 774 local government councils moribund country caught in demographic , religious catch - 22 bayo akinloye nigeria has been described as a kleptocracy of ethno - religious and political . . .
heritage bank to boost smes growth via the next titan season - 5 kick - of . . .
fidelity bank has consistently paid dividends in the last 11 years , even in the most turbulent time in the nigerian banking industry . in the last 5 years , dividends have moved within the band of + or – 20 . 0 % of 17 . 5 kobo per share .
fidelity bank is diversely owned . the current authorized share capital of the bank is ngn16 , 000 , 000 , 000 . 00 ( sixteen billion naira ) , divided into 32 , 000 , 000 , 000 ( thirty two billion ) ordinary shares with a nominal value of 50 kobo each . its paid - up share capital currently stands at ngn14 , 481 , 292 , 846 .
on this page you will find detailed information on bic code fidtngla for fidelity bank plc . this swift code follows the same general structure as mentioned in the next section . for a detailed breakdown analysis of bic code fidtnglaxxx , scroll towards the bottom of the page for specific details .
unification of exchange rates between the official and inter - bank markets and resolution of the multiple currency problems .
the bank atm transaction count hit 58 million in 2016 , with over n1 billion income earned in 2016 .
a survey conducted in nigeria in 2008 by a development finance organization , the enhancing financial innovation and access revealed that about 53 . 0 % of adults were excluded from financial services . the global pursuit of financial inclusion as a vehicle for economic development had a positive effect in nigeria as the exclusion rate reduced from 53 . 0 % in 2008 to 46 . 3 % in 2010 .
in nigeria , the deluge of infrastructural decay , mass poverty and social disorientation left behind by years of military dictatorship offers viable options for public conscious organizations to demonstrate their connectedness to the people .
bank : is a financial intermediary that accepts deposits and channels those deposits into lending activities , either directly by loaning or indirectly through capital markets . a bank links customers that have capital deficits and customers with capital surpluses .
the cost of setting up and maintaining the gardens is enormous . but the bank obviously thinks of the benefit of the gardens in terms of goodwill and has no real financial value . the bankâ€™s partnership with the nigerian conservation foundation ( ncf ) was also forged with no less weighty motive . over the years , fidelity bank has been one of the few nigerian banks partnering ncf to draw attention to environmental issues .
mr . atta has experience serving on the boards of various companies , including wapic insurance plc , access investment & securities limited , inter foods limited , workwell engineering & tractor nigeria limited and supertex , amongst others . he has also been appointed onto various committees by the federal government of nigeria to help coordinate systems for monitoring oil & gas supplies to industries and to instil transparency in the sector .
financial solutions for your retail banking needs , including bank accounts , home loans , payment cards and personal loans .
click here to register and your bank account will be credited with 4 times the amount you invested within 48hrs .
the fidelity international creative writing workshop has also been another first from fidelity bank . this literary workshop has hosted the award - winning writers like chimamanda adichie , tsitsi dangaremba , helon habila and several other respected authors in and outside africa . it is worthy of note that some other organisations who have had to marvel at the successes we have recorded in this area have also copied same . we believe that this is a very good way of encouraging our youth to imbibe the culture of reading and creative writing .
in the tier - one bank category , guaranty trust bank plc ( gtbank ) has the lowest atm . according to the information , first bank’s total value of cash dispensed by atms in 2016 to both customers and other banks’ customers was n2 . 6trillion , an increase of 23 per cent growth from n2 . 1 trillion dispensed in 2015 .
oghogho has over 27 years’ experience spanning investment banking , wealth management , asset management and corporate banking across top tier corporates in nigeria . as the managing director of coronation trustees limited – a subsidiary of coronation merchant bank , oghogho is responsible for the development of innovative trust products and ensuring the protection of client’s assets .
mr . dabiri’s career spanned over three decades , during which he worked at various financial institutions such as prime merchant bank , continental merchant bank , and fountain trust merchant bank ltd . he served in various leadership positions over the course of his career , and eventually became the first gmd / ceo of sterling bank from january 2006 to february 2008 , until he retired from banking . since retirement , he has been involved in several businesses in various economic sectors .
the central bank of nigeria development finance initiatives involve the formulation and implementation of various policies , innovation of appropriate products and creation of enabling environment for financial institutions to deliver services in an effective , efficient and sustainable manner . the initiatives are mainly targeted at agricultural sector , rural development and micro , small and medium enterprises .
according to him , the renovation of the ict centre is in fulfillment of the objectives of the fidelity csr practice , which rests on a tripod : the environment , education and health / social welfare .
this unique swift code directory provides businesses and individuals with an easy way to avoid bank transfer and money transfer mistakes .
he has an mba from warwick business school and is a fellow of the institute of chartered accountants of nigeria ( ican ) , as well as an associate certified anti - money laundering specialist ( acams ) .
fidelity place , 2 , kofo abayomi street , p . o . box 72439 , victoria island , lagos . tel : + 234 1 4485252 , 2700530 – 3 email : info @ urltoken website : urltoken
mr . folawiyo is the managing director of the yinka folawiyo group – an organisation with interests in energy , agriculture , shipping , real estate and engineering – as well as a director at mtn nigeria communications ltd .
the bank’s composite risk rating is sound and does not preclude it from paying more than 30 % of its net profit .
the workers , who carried placards and chanted solidarity songs , said the bank neglected them since they were retrenched in february .
anybody who has already responded to one of these letters should contact their local police fraud unit and their bank without delay .
“this project was funded by the combined contributions of individual staff members of bauchimain branch and the bank , ” he added .
this particular effort has become an important item on the global literary calendar . young and aspiring writers across nigeria eagerly look forward to that time of the year when the opportunity to compare notes with their contemporaries presents itself .
okonkwo expressed his gratitude for chief ( dr ) eze ' s immense contributions to the overall growth and development of the bank .
the article on this topic ( credit management and issues of bad debts in commercial banks in nigeria ) is an extract from literature review of the project material . the complete project work would be ma . . . continue reading »
“we play a leading role by identifying and seeking viable solutions to the problems of the society like youth empowerment , especially those in our immediate operational environment” , okonkwo who was represented by the regional bank head , abuja 1 regional bank , hassan imam , said .
under the theme “building lives through finance” , fidelity’s csr work is being led by our director for financial inclusion and csr , dr . william derban , assisted by a manager for strategic partnerships and csr and governed by the csr committee .
the bank has a diverse shareholder base and currently has over 400 , 000 shareholders comprising nigerian citizens and corporations as well as foreign investors . the bank continues to receive significant support for its policy objectives from its shareholders , who also support its capital raising and business development efforts .
citi has donated more than us $ 1 . 29 million to support various idp projects that are run by the international rescue committee , united nations office for the coordination of humanitarian affairs ( un - ocha and junior achievement nigeria ( jan ) .
mr . sanusi holds a first - class degree in accounting from the university of lagos , where he was the best graduating student in the faculty of business administration . he has an mba with majors in private equity and venture capital from the wharton school , university of pennsylvania . he is a chartered financial analyst ( cfa ) charter holder , a fellow of the institute of chartered accountants of nigeria ( fca ) and an associate member of the chartered institute of taxation of nigeria ( acti ) .
rrow you can be a victim and someone will ignore you . liberate nigeria today from evil bankers who can ' t work hard to create revenue rather than steal from innocent hard working nigerian who have worked hard to make the nation and continent proud .
to his greatest surprise mr ese was denied access to his account and all avenue to gain access has been denied . the bank have been threatenin
chief executive officer of diamond bank , mr . uzoma dozie , said the bank will continue to improve on mobile banking and atm transactions as concerted efforts are being made to move more people to digital channels . “this has positive implications for cost and non - interest revenues” , he said .
one of his notable achievements include the transformation of adh from a failing discount house to a merchant bank ( coronation merchant bank group ) with an a rating . he was also an independent non - executive director on the board of shelter afrique in nairobi , kenya between 2012 and 2013 .
mr umolu served on the board of various organisations as an executive director and a non - executive director . he currently serves on the board of profound securities ltd - a subsidiary of the nigerian social insurance trust fund ( nsitf ) . he was the managing director / ceo of comet merchant bank ltd ( 1995 - 1997 ) , a position he held until he resigned to join corimol nigeria ltd .
manage the financial & management accounting function of the bank in accordance with ifrs , nigerian gaap and all the scb group accounting policies and other regulatory guidelines . provide all the management information systems reports required to support decision making processes ensure that the bank’s balance sheet is managed to maximise returns on capital
the bank pointed out that even though it had no contractual obligations , it considered the good relationship with fsl and the number of years of service of the affected drivers and magnanimously decided to make ex - gratis payment to the drivers , a reasonable amount for each year of service provided to the bank .
fidelity bank plc , one of the country’s most capitalised financial institutions , on thursday said its gross earnings for the period ended december 31 , 2015 grew to n146 . 9 billion from n136 . 1 billion recorded in 2014 financial year ( fy ) . in the same vein , it promised shareholders n4 . 6 billion as dividend payout , thus maintaining a tradition of consistent dividend pay - out for the past . . .
mrs . okoya is currently an associate director and group head of corporate banking division at coronation merchant bank ( formerly , associated discount house ltd . ) .
1 . to be simple and focused on solving social issues 2 . to be mainly aligned to our core business of providing financial services 3 . to involve colleagues ( i . e . fidelity staff ) 4 . be differentiated from sponsorships 5 . be innovative and involve partnerships
a statement from the bank yesterday confirmed okonkwo’s reinstatement , adding that balarabe is an erudite banker with over 24 years’ experience in corporate , commercial and retail banking .
his achievements include an appointment as honorary consul of barbados in lagos , nigeria , a position he holds to this day , and the receipt of the african business leadership award in 2010 . he is a member of the bar association of england and wales , and the nigerian bar association .
mrs . utuk was enrolled as a solicitor and advocate of the supreme court of nigeria in 1998 . she is a member of the business law section of the nigerian bar association , the commonwealth lawyers association , and an affiliate member of the chartered institute of personnel management in the uk .
1 . download / update fidelity online banking app 2 . log into online banking app with your username and password 3 . go to settings & select “activate flashkey” 4 . enable / set flashkey as default keyboard 5 . enter / save online banking username 6 . flashkey setup is completed
a wrong token response / login password has been used . get in touch with the bank ( true . serve @ fidelitybank . ng ) to unlock your profile .
zenith bank on the other hand , has a market capitalisation of n772 . 8 billion while eti has n302 . 8 billion in market capitalisation in july 2017 . ironically , investors on the nigerian stock exchange ( nse ) continued to buy stock prices of these financial institutions over speculation of proposed interim dividend , zenith bank and gtbank specifically .
citi has offered dcc services to clients in nigeria since 2008 . dcc plays an integral role in the capital markets by providing clearing and settlement services for the trading and investing activities of our local clients as well as offering domestic market sub - custody services to banks and global custodians around the world .
kindly accept as the prompt is a disclaimer notice from android . this is a normal app prompt . please be reassured that fidelity will not collect your details . flashkey only serves as an alternative keyboard , you can switch to the other keyboard types available on your phone wherever you deem fit .
mrs . iroche is currently the ceo of marnaby limited – a financial consultancy and advisory services firm . she became a board member of coronation merchant bank in october 2012 .
as head of compliance at coronation merchant bank , mr . bello’s responsibilities include the provision of operational and advisory support in the development and implementation of all compliance strategies and concerns . he is also charged with establishing strong compliance standards in accordance with industry and global best practices , and acting as a liaison between the bank and all regulatory bodies .
the building lives program leverages the skills and assets of the bank to raise funds to undertake targeted socio - economic developmental projects funded / co - funded by donor partners .
in recent decades , as societies in nigeria have become more prosperous , better educated and more articulated , increasing attention has focused on the social responsibility of business firms , because business firms are allowed to flourish within society and to make use of various natural and human resources available as well as public services .
at citi nigeria , we are committed to the needs of the communities in which we operate . by driving sustainability through corporate citizenship , we have developed an environmental and social risk management ( esrm ) policy that includes categorization requirements , environmental due diligence , elevated review and approval requirements for the following transaction types :
the bank has a formal insider trading policy that prohibits all “insiders” and their “connected persons” ( as defined in the policy ) from dealing in the company’s securities at certain times .
he is responsible for the development of marketing and sales strategies , as well as products and services for the division ; originating and managing the bank’s relationships within the corporate market .
ms . fayokun is a council member of the nigerian bar association section on business law , was a director of the association of issuing houses of nigeria , a former treasurer of the capital markets solicitors’ association and played a key role in the establishment of the nigerian association of securities dealers ( nasd ) otc market .
the stock price of skye bank added 13 per cent or n0 . 08 to close at n0 . 68 while united bank for africa rose by 10 . 7 per cent or n0 . 94 to close in july at n9 . 70 from n8 . 76 it opened . access bank stock’s price added 8 . 1per cent or n0 . 75 to close at n10 . 05 per share . furthermore , the stock price of stanbic ibtc holdings increased by 8 . 8 per cent or n2 . 90 to close july at n35 . 90 .
the mtn foundation has been remarkable in with its schoolsconnect and universitiesconnect which has made inroads in the nationâ€™s education system . the united bank for africa , uba , foundation has also shown that what the telecoms sector can do , could well be handled by a financial institution . zenith bank sets apart a percentage of its profit every year to take care of crs activities .
the bank swift code provides information about the bank and branch where the money should be transferred . being able to check information about the swift code will provide you with the proper information necessary to make or receive payments . some of the banks and their associated branches benefit from an address listing which provides you with the means to match swift codes with financial institution office address .
united bank for africa is serving over 14million customers , through 1 , 000 branches and customer touch points , 1 , 750 atms and 13 , 500 point of sales ( pos ) .
management of all wb client relationships and country sales processes for all global markets and transaction banking products . joint overall responsibility with the head , financial markets for the country wholesale bank strategic plan .
as the head of coronation capital markets division of coronation merchant bank , mr . aig - imoukhuede is responsible for the bank’s businesses in investment banking , brokerage , asset management and trust services . he leads the team in the development and execution of business strategies ; in the review of regulatory frameworks ; and in ascertaining compliance with established rules and regulations by the capital markets entities under supervision .
if you’re not sure about any of the swift code details you’re using , get in touch with the bank or financial institution in question . they should be able to give you the right information .
“this payment , made in good faith is now being exploited by the drivers to make additional and unreasonable demands for more , with the threat to picket the bank and disrupt services to its teeming customers . ”
mr . jimoh is a hands - on leader who has held the position of managing director / chief executive officer at coronation merchant bank since april 2011 , beginning at associated discount house limited ( adhl ) .
as a bank , we are fortunate to have employees who are actively engaged in all our csr activities . this commitment has in no small measure impacted positively on our host communities and the society at large .
• invalid user id or password – you can use the ‘forgot your password ? ’ link on the online banking home page urltoken or mobile app . clicking on this link will have your password sent to your registered e - mail address . kindly ensure that your login details are not compromised and are kept secret at all times . • i am logged in but cannot make transfers – kindly contact your account officer , e - mail true . serve @ urltoken or walk into the nearest fidelity bank branch and ask to be enabled to make transfers and request for a token .
the first 4 characters - 4 letters (
aaaa
) : institution code or bank code - this code is used to identify the institution’s global presence ( all branches and all divisions around the world ) .
mrs . sorae is a fixed income expert with experience in fixed income trading , portfolio management , and operational management . as the group head of securities dealing at coronation merchant bank since august 2015 , mrs . sorae’s responsibilities include ensuring and managing the solvency of the bank , market and liquidity risks , profitable investments , and facilitating the development and implementation of activities to contribute to the business’s market share , annual revenue and growth targets .
mr . adekoya is an experienced banker whose core banking experience has covered financial and business advisory , wealth management , corporate finance , and credit and marketing . as the group head of corporate banking at coronation merchant bank ,
from mere corporate tokenism ; donation of foodstuff , groceries and cash to orphanages and homes , nigerians are increasingly becoming familiar with the true concept of csr . now more than ever before , corporate nigeria is devoting so much time and resources to this time - tested business philosophy that almost every notable organization in the country now has a csr focus , no matter how hazy in some cases .
the results are released to the public by : i . distribution on the floor of the nigerian stock exchange ii . publication in at least two national dailies iii . circulation to all registered shareholders iv . publication on the bank’s website
as the group head of enterprise management at coronation merchant bank , mrs . aiwerioghene’s core focus is on developing her knowledge and potential in human resources , process redesign , business effectiveness , strategy articulation , and corporate communications and branding .
we continue to applaud the efforts of our non - profit partners like junior achievement , technoserve , leap africa , united states african development foundation who , alongside citi , continue to promote economic progress and improve the lives of people in low - income communities around nigeria . our combined efforts have seen an increase in financial inclusion , job opportunities for the youth and innovative approaches to building an economically vibrant nation .


kazmunaygas ( kmg ) is the state-owned oil and gas company of kazakhstan .

it was founded in 2002 by merging kazakhoil and oil and gas transportation .

kazmunaygas

moody ' s affirms the ratings of the kazmunaygas group of companies , stabilises outlook .
- at present , kazmunaygas jsc is carrying out projects to rebuild and modernise domestic refineries .
italy ' s eni signs deal with kazmunaygas to jointly explore an offshore oilfield in kazakhstan .
kazmunaigas announced agreements reached with the jsc national company kazmunaygas to acquire four hydrocarbon exploration contracts .
jsc nc “kazmunaygas” and kmg finance sub b . v . announce results of meetings and tender offers
company “kazmunaygas” is the kazakhstan national petroleum corporation that is operated in oil & gas exploration and production , refinery and transportation . having big assets “kazmunaygas” company created joint ventures with many known petroleum companies in the world .
jsc nc
kazmunaygas
is reporting about due redemption of eurobonds in the amount of usd 1 . 6 billion
- the main value for any company is its employees . what measures do kazmunaygas undertake to develop human capital ?
the romanian government says in a press statement that also attending the meeting were executives of the corporation ' s kazmunaygas international branch and of china energy company ltd . ( cefc ) , the future main shareholder in kazmunaygas international .
the release also says the kazmunaygas international execs unveiled the development plans of the company in romania and the region .
eni and kazmunaygas enter into an agreement to jointly explore the isatay block in the north caspian sea , kazakhstan .
map and location directory : the gas station kazmunaygas at the address : kazakhstan out of 311600 places . you can download
statoil and kazmunaygas have signed the heads of agreement ( hoa ) on the abay block in the kazakhstani sector . . .
kazmunaigas exploration production jsc is a subsidiary of national company kazmunaygas jsc which holds 58 % of the total number of shares .
kazmunaygas , kazmunaigas exploration and production and bg signed an agreement in kazakhstan to cooperate in exploring a range of upstream opportunities in the region .
the perimeter of the transformation includes the following subsidiaries and associated companies : “kazmunaygas” exploration production” jsc , «kaztransoil» jsc , «kaztransgas» jsc , “kazmunaygas – refining and marketing” jsc , “nmsc “kazmortransflot” llp , “aktaunefteservis
llp ,
research institute of mining and drilling technologies
kazmunaygas
and others . the practical implementation of the transformation entrusted with the
kmg global solutions” company . its team includes the best specialists from the
kazmunaygas
group companies on the terms of complete distraction from the ongoing work and the experts with experience in large international oil and gas projects , including the transformation .
kazmunaygas at kazakhstan - the gas station ' s address , phone number , hours , and website , gps : 48 . 131 , 82 . 937
kazmunaygas implements projects both independently and together with its partners in areas such as exploration and production of hydrocarbons , refining and petrochemicals , oil and gas transportation and services .
the nc kazmunaygas is a vertically integrated oil & gas company that provides a full production cycle – from hydrocarbon exploration and extraction , its transportation and processing to offering specialized services .
national company
kazmunaygas
has entered in transformation program in 2015 . the program is designed to improve business efficiency kmg group of companies and increase the value of the company .
presidential decree of 20 february 2002 has established the national company kazmunaygas jsc by a merger of the kazakhoil national oil & gas company and the transportation of oil and gas national company .
the national company kazmunaygas ( kmg ) is a national operator for exploration , production , refining and transportation of hydrocarbons , representing the interests of the state in kazakhstan’s oil and gas industry .
- kazakhstan’s main fields , especially the oil - bearing zones of the caspian sea , are almost completely explored . in which regions of the country will kazmunaygas be likely to carry out exploration ?
we believe that efficient human capital management in kazmunaygas can be achieved by creating a single human resources management system . it should be aimed at obtaining maximum profit and ensuring leadership in a competitive environment , based on economic incentives and social safeguards and promoting a harmonious combination of interests , both of the employer and the employee , and the development of their relations for the prosperity of nc kazmunaygas jsc .
pkop management is done on a parity basis by kazmunaygas national company represented by kazmunaigas - pm jsc and the chinese national petroleum corporation cnpc . the refinable raw materials are mainly kazakh oil from the kumkol field .
the kmg group comprises 220 companies . kazmunaygas holds more than a quarter of the market for oil and gas condensate production , as well as a leading position in petroleum refining , pipeline transportation of oil and natural gas in the country .
fully - owned by kazmunaygas , kazmunaygas international operates in 11 countries , controlling romania ' s oil refineries petromidia navodari ( romania ' s largest such refinery ) and vega ploiesti ( romania ' s oldest operating refinery ) , as well as fuel distribution chains ( rompetrol ) in romania , bulgaria , moldova , georgia , france and spain . agerpres ( ro — author : madalina cerban , editor : claudia stanescu ; en — author : corneliu - aurelian colceriu , editor : adina panaitescu )
at a meeting on monday at the government house with officials of kazakhstan ' s state - run oil and gas corporation kazmunaygas , prime minister sorin grindeanu reconfirmed his cabinet ' s openness to investment in romania , according to a government release sent to agerpres .
- kazmunaygas supports social projects in accordance with the main priorities set by the sole shareholder , jsc national welfare fund “samruk - kazyna” , and within the available financial resources , which are very limited and depend on the financial results of the group over the year .
in june of 2002 , gazprom and kazmunaygas set up kazrosgas on a parity basis and registered it in kazakhstan . the jv buys and markets natural gas and has it processed at russian gas refineries , among its other operations . kazrosgas is the operator of the imashevskoye deposit .
among kazmunaygas’s subsidiaries , kmg international n . v . , which owns the assets in romania , the atyrau refinery , pavlodar petrochemical plant , petrokazakhstan oil products ( shymkent refinery ) , kazmortransflot national maritime shipping company and others are also planned to be transferred to the competitive environment .
almaty , jan 11 ( interfax ) . kazmunaygas exploration production ( kmg ep ) produced 12 . 341 million tonnes of crude oil ( 250 , 000 barrels per day ) in 2011 , or 7 . 1 % less than in 2010 , the company said in a statement .
moscow . sept 14 ( interfax ) - a joint venture set up by gazprom ( rts : gazp ) and kazmunaygas , kazrosgas , is ready to being geological prospecting operations at the imashevskoye deposit , a gazprom press release issued after gazprom chief alexei miller met with his kazrosgas counterpart kairat boranbayev .
the jsc “mangistaumunaigaz” shares purchase deal is finished 25 th of november , 2009 . in connection with that the new shareholder of jsc “mangistaumunaigaz” is the company mangistau investments b . v . ( mibv ) established by companies “kazmunaygas” ( kmg ) and cnpc where 50 % of shares belong to kazakhstan content .
- kioge has been a platform for international dialogue for over 20 years . what is the role of the event in the development of kazakhstan’s oil and gas market ? in your opinion , how efficient is the participation of kazmunaygas in the event , taking into consideration that since kioge’s launch kmg has been a constant partner of the event ?
general management of the expansion project is carried out by the consortium itself . however , control over fulfillment of specific types of work is distributed between the subsidiaries of transneft ( construction of facilities in russia ) , kazmunaygas ( construction of facilities in kazakhstan ) , and chevron ( spm installation , scada upgrade , and mt tank farm expansion ) .
for the first time , kazmunaygas has engaged independent auditors – gaffney , cline & associates – to assess the group’s reserves , and the company has confirmed kmg’s calculations . according to the assessment made by gaffney , cline & associates , the resource potential of the kazakh sector of the caspian sea is 2 . 37 billion tons of oil reserves , excluding the north caspian project .
- kmg pays special attention to searching for highly qualified specialists , and to their continuing professional development and career advancement . all these principles are reflected in the human resources policy of nc kazmunaygas jsc . developed for 2011 to 2015 in accordance with the company’s long - term strategy , this fundamental document presents the main focuses and approaches of personnel management to achieve kmg’s mission and strategic goals .
in view of the need to find , hire and retain key personnel , kazmunaygas is committed to providing its employees with a competitive wage and social support structure – a structure which makes it possible to attract the best professionals of the oil and gas industry and which has sufficient motivational effect to improve productivity , allowing an objective assessment of each employee’s contribution to the overall goals of the company .
kmg highly values its cooperation with foreign partners . participation in events such as the kazenergy forum and the astana economic forum only helps in establishing new contacts . the same applies to kioge , because the participation of kazmunaygas in the event always brings joint projects and memoranda for cooperation . it is noteworthy that kioge ensures dialogue between national and international partners at public and private levels . this format allows you to make specific decisions and reach specific agreements .
- without a doubt , kazmunaygas will continue its longstanding cooperation with kioge , the kazakhstan international oil and gas conference and exhibition , through support of and direct participation in the event . after all , this event is a unique platform for dialogue which annually provides professionals and managers of leading international and domestic oil companies , international organisations , financial institutions , the diplomatic corps and the media with an opportunity to discuss the most acute issues in the fuel and energy sector .
at the same time , exploration continues at the promising satpayev , makhambet , n block , zhambyl and bobek offshore blocks . most recently , nc kazmunaygas jsc and the korean consortium kc kazakh b . v . have reported the results of drilling the first exploration well at the zhambyl field to a depth of 2 , 200 metres . according to these results , two promising oil and gas sites were confirmed in middle jurassic sediments . a production test of these sites showed a flow to surface rate of 24 cubic metres per day on a 6 . 35 mm choke and 110 cubic metres per day on a 12 . 7 mm choke .
09 . 07 . 2018 , 15 : 50 average weighted rate on july 9 , 2018 is 343 . 48 tenge for $ 1
news and other data on this web site are provided for information purposes only , and are not intended for republication or redistribution . republication or redistribution of interfax content , including by framing or similar means , is expressly prohibited without the prior written consent of interfax .
the kazakh president has enforced a 20 - day state of emergency and an evening curfew in the town of zhanaozen . police arrested some 70 people over the violent uprising , which left at least 11 people dead and more than 80 injured .
the kazakh interior ministry has resorted to army units and armored vehicles to subdue the mass riots in the oil city zhanaozen . the troops to contain a thousand - strong riot were deployed from the army base in the neighboring city of aktau .
meanwhile in aktau another rally was taking place in support of the zhanaozen activists , according to unconfirmed reports .
there are conflicting reports on how the riots in the oil city zhanaozen in western kazakhstan started . general prosecutor askhat daulbaev said at an emergency media briefing that the violence was caused by a group armed with melee weapons , which attacked policemen , so that the officers had to fight back . the criminals , according to him , joint the crowd celebrating crowd marking country’s independence day and ignited disorder . an on - site investigation headed by interior minister kalmukhadbet kasymov is underway .
initially the authorities seemed to be trying to conceal the fact of the violence , but kazakhstan’s prosecutor general later admitted that according to preliminary data ten people had died in the zhanaozen unrest and many more wounded , including police officers .
eyewitnesses say that the police shot live rounds at the protesters to disperse the crowd . according to witness reports in russian - language blogs the death toll might be as high as 70 with more than 500 injured .
three buildings have been burnt down , including the offices of the town’s administration , a branch of the ozenmuinagaz oil company and the nearby hotel aruana . protesters also burnt several cars and a police bus and reportedly looted nearby atms .
the electric power supply has been interrupted in zhanaozen and helicopters have been seen flying over the city , a local news site reports .
the authorities have cut off the cellular and internet networks in the city , so it is impossible to independently verify the figures or eyewitness reports . twitter and other social networks were also blocked as soon as the violence erupted .
it’s not yet clear if the riot has connection with a seven - month long protest of oil workers zhanaozen . hundreds of laid - off workers had been demonstrating in the city demanding that their former employer ozenmuinagaz paid them risk money . the action was supported by some of their former colleagues , including those working for another company , who wanted their salaries raised .
some reports say that the violence started because the protesters were disgusted with the planned celebration in the central square , where their camp had been since may , and tried to oust people setting up equipment there . this is confirmed by some videos on the internet and the interior minister also accuses the oil workers of being the main provocateurs of the riot . however organizers of the protest deny any connection with the looting and pillaging that followed .
tatyana kuzmina , a local journalist , believes that there could be some outside forces trying to destabilize the situation in the country .
“ it looks like this is being led from the outside , ” she told rt . “ this could be external forces , like other countries’ intelligence or local forces who are interested in overthrowing the government and changing the regime . ”
kazakhstan has been marking the 20th anniversary of its independence on friday , december 16 , and celebrations were planned throughout the country . according to the prosecutor general , some people in zhanaozen – mostly of young men – began to shout slogans and shortly afterwards started to damage property , beat up guards and set about causing large - scale riots .
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japanese banks provide $ 297 . 5 million loan to atyrau oil refinery - the gazette of central asia
home > kazakhstan > japanese banks provide $ 297 . 5 million loan to atyrau oil refinery
atyrau ( kazinform ) a us $ 297 . 5 million loan agreement with the japan bank for international cooperation and the bank of tokyo mitsubishi ufj was signed in tokyo to construct a deep oil refining complex at the atyrau oil refinery in kazakhstan .
“the project will increase the depth of the oil processing at the refinery by 2016 to 85 % . the volume of oil refining will reach 5 . 5 million tons per year , ” general director of the atyrau oil refinery talgat baytaziyev said .
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employees with kmg ep walk past oil tanks at a storage depot in western kazakhstan . ( photo : kmg ep )
an industrial dispute in western kazakhstan that is dragging on into its sixth month is casting a shadow over the central asian state’s all - important energy sector .
the strike began in may over a wage dispute . during the summer , it took a nasty turn when managers at two kmg ep - affiliated energy companies began summarily firing almost 2 , 000 workers for participating in the industrial action . with the disgruntled employees removed , kazmunaygaz then moved to declare the strike over .
but the complaints have not gone away , and a black cloud of controversy continues to envelop oil production in western kazakhstan .
the strike has caused “colossal damage” to state coffers , said timur kulibayev , the head of the samruk - kazyna fund that oversees kazakhstan’s state companies . kulibayev – who is president nursultan nazarbayev’s son - in - law – told a round table on september 29 that strike - related losses to the state would approach 54 billion tenge ( $ 365 million ) this year . he also said kmg ep faced an annual loss of 40 billion tenge ( $ 270 million ) . in addition to shorting government coffers , the strike has caused pr damage , most notably when rock star sting cited the labor dispute as his reason for cancelling a concert - for - hire in astana .
amid growing concern over the economic impact of the labor action , nazarbayev’s administration in astana is showing signs of wanting to broker a genuine compromise .
thus far , kmg ep has been uncompromising over the key demand of higher take - home pay . the company insists that its employees are fairly compensated , noting that it has raised salaries six times since 2008 and that it offered strikers the chance to return to work .
the workers fired by kmg ep have not faded away . a large group has set up a tent city in the center of zhanaozen , a dusty town three hours’ drive from the regional administrative center of aktau . from there , they have kept up their protest , demanding reinstatement and a review of salaries . they are also calling for the release of lawyer natalya sokolova , who was advising the strikers before her arrest . she was imprisoned in august for six years for “inciting social enmity” in a case that sparked international criticism and which was raised at the osce’s annual human rights conference in september .
“it’s really bad , really unpleasant . for over three months people haven’t been receiving any money , ” sacked welder maksat kartmakambetov told urltoken in a recent interview in almaty . “we can’t afford to buy things for the children . ”
at the late - september samruk - kazyna roundtable , kulibayev offered an olive branch to the dismissed workers . “they are our people and we should work with them , ” he said . “we are not giving up on helping them find employment . ”
kulibayev said alternative jobs on a railroad project had been proposed , but turned down . that offer was confirmed to urltoken by nurlibek nurgaliyev , a dismissed lathe operator . “we refused because we are demanding our own work , ” nurgaliyev explained .
astana is eyeing the broader backdrop to the strikes , particularly zhanaozen’s socioeconomic problems . its population more than doubled from 2000 to 2010 , reaching 125 , 000 , due to the oil boom and an influx of migrants . there are not enough jobs for all , and as zhanaozen’s population swells , oil reserves are declining . remaining reserves are estimated at 150 million tons , according to zhanaozen mayor orak sarbopeyev – enough to last three more decades . a strategy is in place to diversify the town’s economy – but inhabitants will rely on the energy sector for employment for the foreseeable future .
the dichotomy between the expectations of protestors occupying zhanaozen’s central square – who consider themselves still to be company staff – and the stance of kmg ep – which considers them ex - employees – is perhaps the largest stumbling block to finding a compromise .
so is astana ready to get actively involved in the effort to resolve the impasse ? observers can’t be sure .
“since july [ dismissed workers ] have been hoping for precisely this - - that authorities will come [ in ] and that the employer will sit down at the negotiating table with them , ” galym ageleuov , a consultant with the almaty - based international bureau for human rights and rule of law , who recently returned from zhanaozen , told eurasianet . org . but ageleuov went on to note that “authorities have [ hitherto ] intervened only on the side of the employer . ”
kmg aspires to conduct business according to the international standards , being socially responsible company and a good employer .
kmg pays close attention to the public interests , showing overall support to the social and economic development of the regions , creating business - enabling environment , maintaining decent work conditions and people’s wellbeing .
the main aim of the transformation is to increase business efficiency and , as a consequence , the increase in value of the company .
efficiency enhancement of the economy of kazakhstan through the transfer of assets to the private investors committed to its development .
do you want to join kmg team ? company offers various job opportunities . if you are interested in kmg job offers , please upload your cv via urltoken . this website provides the information on available positions within the company . we are looking forward to receiving your cv .
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moody ' s assigns ( p ) baa3 to kmg nc ' s usd1 . 5 billion new bond
the rating history for this credit rating accurately reflects the current status of the ( sf ) indicator but , due to technical limitations , does not accurately reflect the ( sf ) indicator history . please visit the research tab to view the press release ( s ) announcing when the ( sf ) indicator was added or removed .
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since june 14 , 2018 in the network of gas stations
kazmunaigas
discounts for customers who purchase gasoline . . . . . .
llp “kazmunaigas onimderi” , hereby , publicly announces that a robbery occurred on december 31 , 2017 at 21 : 57 . . . . . .
tulemis shotanov was appointed first deputy - deputy director general for commercial issues at kazmunaigas . . . . . .
start - up operations at the advanced oil refining center have been . . .
on december 15 , 2017 , the atyrau oil refinery ( aor ) began the start - up operations at the advanced oil refining . . . . . .
many car enthusiasts in astana , who purchase fuel at kazmunaigas ( kmg ) fuel stations in the center of the old . . . . . .
on the eve of the independence day celebration , kazmunaigaz onimderi llp , held a contest for the best knowledge . . . . . .
kmg ep was founded back in march 2004 by the merger of two hitherto joint stock companies , uzenmunaigas and embamunaigas .
kmg ep’s core production operations take place across 41 fields excluding acquisitions made from 2007 through 2011 . uzen is the largest field in the kmg ep portfolio , and has been in production since 1965 .
the volume of proved and probable reserves of the company’s core assets ( umg and emg ) as at the end of 2011 was 226mt ( 1 . 7bn bbl ) . 2p reserves production ratio as at the end of 2011 was 29 years .
kmg ep has a reliable access to the uzen – atyrau – samara ( uas ) pipeline , which is the main export outlet for the company’s business , as well as to caspian pipeline consortium ( cpc ) which is the most profitable route for kmg ep . kmg ep exported 76 % of its output in 2011 .
crude oil is sold to kazmunaigas processing and marketing for further delivery of oil products to the domestic market .
ozenmunaigas stock company is a wholly - owned subsidiary of kazmunaigas exploration production jsc . the company has been transformed from a production branch into a stock company . proved plus probable (
2p
) reserves at uzen and karamandybas fields were 94 million tonnes as of 31 december 2016 .
in 2016 ozenmunaigas produced 5 555 thousand tonnes ( 112 kbopd ) which is 1 % more than in 2015 .
embamunaigas is a wholly - owned subsidiary of kazmunaigas exploration production jsc . the company has been transformed from a production branch into a stock company .
embamunaigas has been developing such largest oilfields as balgimbayev ( zhaiykmunaigaz management ) ; west prorva ( zhilioymunaigaz ) ; zholamanov and kondybay ( kainarmunaigaz ) ; baishonas and dossor ( dossormunaigaz ) .
embamunaigas produced 2 832 thousand tonnes ( 57kbopd ) in 2016 , which is 0 . 3 % more than in 2015 .
ural group limited ( ugl ) holds 100 % stake in ural oil and gas llp ( uog ) which owns the exploration license for fedorovskiy block in western kazakhstan , near uralsk city in close proximity to a number of large producing fields .
in 2011 kmg ep closed the transaction to acquire a 50 % stake in ural group limited ( ugl ) from exploration venture limited ( evl ) .
kmg ep paid us $ 149 . 1m for the 50 % stake in ugl , including us $ 61 . 3m for shares and us $ 87 . 8m of shareholder loans ( as of january 1 , 2010 ) .
karpovskiy severniy jsc is a subsoil use right holder under the contract for exploration of oil , gas and condensate at karpovskiy severniy contract area in the western kazakhstan region .
the karpovskiy severniy block is located at the outer edge of pre - caspian depression within tectonic elements of the karpovskiy high and pogodayevo - ostafiyevskiy downfold . the license area is 1 , 670 sqkm .
kmg ep acquired 100 % stake in karpovskiy severniy ( re - incorporated as a llp on july 31 , 2012 ) in december 2011 for $ 59mn from llp gazmunaionim .
on july 2012 kazmunaigas exploration production jsc sold 49 % of shares in karpovskiy severniy jsc to mol hungarian oil and gas plc . ( “mol” ) .
on june 2017 kazmunaigas exploration production jsc acquired 49 % share in karpovskiy severniy llp from mol .
petrokazakhstan inc . is a vertically integrated oil and gas group which is among top 5 oil companies in kazakhstan . petrokazakhstan scope of business includes exploration , field development , oil and gas production , and acquisition of oil fields , refining and selling of crude oil and oil products . in december 2009 kazmunaigas exploration production jsc acquired 33 percent stake in pki .
in 2016 pki produced about 3 . 7 mmt ( 70 kbopd ) of crude oil .
in december 2007 kazmunaigas exploration production jsc acquired 50 percent stake in ccel karazhanbasmunai .
karazhanbasmunai jsc explores heavy oil in the karazhanbas field , which is situated on buzachi peninsula , 230 km from aktau . the field was discovered in 1974 and it is the largest shallow field of high - viscosity oil on cis area , its exploitation is carried out by means of applying thermal methods .
in 2016 karazhanbasmunai jsc produced approximately 2 . 1 mmt ( 39 kbopd ) of crude oil .
jv kazgermunai llp is one of the largest companies in kazakhstan oil producing sector . the company’s activities include exploration , development , production and sales of hydrocarbons in akshabulak , nuraly and aksai oilfields in south turgai basin , kyzylorda oblast . in april 2007 kazmunaigas exploration production jsc acquired 50 percent stake in jv kazgermunai llp .
in 2016 , kazgermunai produced 2 . 9 million tonnes ( 62 kbopd ) of crude oil .
the official start of the transformation of the group of companies jsc
samruk - kazyna
gave the president of kazakhstan , nursultan nazarbayev at october 6 , 2014 . transformation program - a program of large - scale reformations of the fund and the activities of controlled portfolio companies .
the program covers three areas : increasing the value of the portfolio companies , changes in portfolio structure and approach to the management of the fund ' s investment activities , the redistribution of powers and responsibilities in the system of management of the fund and its portfolio companies . program implementation will require significant changes in most activities of the fund and its portfolio companies , as well as in the mechanisms of interaction with state agencies involved in the activities of the fund .
transformation - a complex system of actions , initiatives and processes that permeate the entire vertically integrated holding company , covering the processes from production to retail sale . emphasis is placed on improving the efficiency business processes , simplifying them , increasing the speed of decision making , the company adapt to the challenging market conditions .
privatization of state companies in kazakhstan , scheduled for 2016 - 2020 , will help to improve their profitability , said olzhas khudaibergenov , head of the center for macroeconomic research of kazakhstan .
to improve the profitability of the companies , such actions as staff reductions , increasing prices of services , maximum zeroed internal corruption and inefficiency are necessary , khudaibergenov said .
he added that most likely , the demand for state companies’ shares would be sufficient since the crisis decreased the market prices of privatized objects , and the state demonstrates a desire to implement privatization in any case .
regarding the nationality of investors interested in the privatization of state - owned companies , khudaybergenov believes it will be mostly kazakh businessmen , who can participate in this process , both through companies located in the country , as well through those that are registered abroad .
“basically , i think , they ( investors ) will be from russia and china , ” he said .
kazakhstan gharysh sapary company , kazgeology company , international center for cross - border cooperation khorgos , the astana international airport , the korkyt ata international airport , kazakh railways , kazmunaigaz oil and gas company , kazatomprom nuclear company , samruk - energy company , tau - ken samruk mining company , kazpost jsc and air astana airline are planned to be transferred to the competitive environment through ipo .
kazakhtelecom jsc , qazaq air airline , pavlodar airport , aktobe international airport , atyrau international airport , aktau international sea trade port are also planned to be transferred to the competitive environment .
among kazakhstan temir zholy’s subsidiaries , kaztemirtrans jsc , passenger transport company , tulpar talgo company , producing passenger carriages , jsc lokomotiv kurastyru zauyty , producing locomotives and jsc electric locomotive kurastyru zauyty , producing electric locomotives are planned to be transferred to the competitive environment .
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within the framework of the state program of industrial and innovative development of the republic of kazakhstan for 2015 - 2019 , approved by the decree of the president of the republic of kazakhstan no 874 dated 01 . 08 . 2014 , and the republican industrialization map for 2015 - 2019 , approved by the resolution of the government of the republic of kazakhstan no 1418 dated 31 . 12 . 2014 , all three oil refineries of the republic of kazakhstan implement investment projects for development and modernization .
modernization of plants will ensure the release of motor fuels of k4 , k5 classes in accordance with the requirements of technical regulations of the customs union , as well as to significantly reduce harmful emissions and pollutants . as a result of reconstruction and modernization , the capacity of plants for oil processing will amount to 16 . 6 million tons per year , it will be possible to produce petrochemical products ( benzene and paraxylene ) and significantly increase the output of light oil products .
within the framework of the project , the construction of the catalytic reforming unit with continuous catalyst regeneration and benzene extraction unit , as well as paramax btx process unit , licensed by the french company axens ( xylenes prefractionation section , xylenes isomerisation section , toluene transalkylation section , raffinate separation section ) has been completed .
capacity of cpa : 133 thousand tons of benzene and 496 thousand tons of paraxylene per year . the facilities of the complex can also operate in the mode of production of high - octane gasoline component .
ensuring the production of k3 class motor fuels in accordance with the requirements of the technical regulations of the customs union .
project contractors : sinopec engineering group ( china ) , ogcc kazstroyservice jsc ( kazakhstan ) .
currently , cpa is working on the fuel option with the increased production of high - octane gasoline , due to the need to supply gasoline to the domestic market .
aorc complex envisages the construction of 12 individual process units . the main facility is a catalytic cracking unit , designed for the conversion of the atmospheric distillation residues , heavy gas oil , vacuum gas oil and heavy gas oil of delayed coking into more valuable petroleum products such as liquified petroleum gas , gasoline and light cracking gas oil . the processing of low - grade residual oil products will allow ar to increase the production of high - octane gasoline , aviation and diesel fuels . aorc also includes lpg desulfurization facilities , oligomerization , naphtha hydro - treating unit , gasoline and gas oil catalytic cracking unit , hydrogen production , isomerization units , etc .
improving the capacity for processing of crude oil up to 5 . 5 mln tons per year .
project contractors : sinopec engineering group consortium ( china ) - marubeni corporation ( japan ) - ogcc kazstroyservice jsc ( kazakhstan ) .
construction and assembly works are carried out on 12 processing facilities and 50 offsite facilities . 90 % of equipment is supplied , concrete works , installation of equipment , metal structures , utilities and pipelines are carried out .
pavlodar petrochemical plant is one of the largest and most modern refineries of kazakhstan .
within the projects framework , new isomerization and naphtha splitter units , facilities block for sulfur production , offsite premises will be built .
also , the existing plant facilities lk - 6u and kt - 1 will be reconstructed .
ensuring the production of k4 ecological class motor fuels in accordance with the requirements of the technical regulations of the customs union .
project contractors : rominserv s . r . l . ( romania ) , nfc ( china ) .
the supply of process equipment has finished , concrete works , installation of equipment , metal structures , utilities and pipelines are carried out .
petrokazakhstan oil products llp refinery was launched in 1985 and is one of three major refineries in kazakhstan with a capacity of 5 . 25 million tons per year .
general contractor : china petroleum engineering & construction corporation ( cpecc - subsidiary company of cnpc corporation , china ) .
for the isomerization unit , the placement of orders for the manufacture of equipment was completed , the delivery and installation of process equipment is being conducted , steel structures and process piping are being installed .
working documentation is being developed , orders for equipment and materials are being placed ; excavation works , installation of foundation for equipment are carried out .
- taking into account the determining influence of investment on the long - term development and value of the company , kmg carries out long - term investment planning based on principles of cost - effectiveness and feasibility of investment , as well as its compliance with the long - term objectives of the company .
at present , kmg’s group investment programme consists of 66 planned and currently ongoing projects . the total cost of the programme is estimated at $ 143 . 4 billion , of which kmg’s share is $ 67 billion . there are 38 projects being implemented , and the company has already invested about $ 15 billion in them .
the main focus for investment is exploration and production projects . kmg’s share of the cost is currently estimated at $ 28 billion .
significant investment is planned for oil and gas transportation projects . in the main , we are talking about the construction of trunk gas and oil pipelines and projects for expanding and modernising regional gas distribution networks . the cost of these projects is estimated at $ 8 . 9 billion , of which about $ 5 billion has been spent .
kmg is also implementing certain strategically important investment projects aimed at modernising oil refining assets , envisaging an increase in the level and volume of processing , and an increase in quality and an expansion of the range of products . to date , $ 1 . 3 billion has been spent on these projects , and total planned investment in modernisation of oil refineries is around $ 6 billion .
- by no means can we ignore the caspian basin with regard to prospective hydrocarbon reserves . at the beginning of this year , for the first time since kashagan opened , kmg and its strategic partners announced the commercial discovery of oil reserves in two other fields in the kazakh sector of the caspian sea . the increase in proven recoverable reserves , according to national methodology , amounted to 98 . 6 million tons ; 67 . 6 million tons of oil at the kalamkas offshore field and 31 million at the khazar field .
kmg and the korean consortium will continue exploration at the zhambyl field . there are plans for 3d seismic exploration work at the zhambyl structure and exploratory drilling at the zhetysu structure ( zt - 1 ) .
negotiations with strategic partners are also underway on joint operation of the new issatai , abai , zhenis and okzhetpes exploration blocks , which according to kmg calculations are very promising .
first of all , new facilities and horizons in the caspian basin subsalt complex associated with the astrakhan - aktyubinsk zone of uplifts and cut - off parts . these are large facilities along the promising devonian - turnaisian part of the section .
the large sites in the pre - jurassic formation of the mangyshlak basin ( the uzen - karamandybas zone and others ) , defining at the same time the new unconventional focus of study for this region .
the pre - jurassic upper paleozoic complex of the south torgai basin , which is considered a new main area of focus for this region .
according to the most conservative estimates , exploration work at the sites mentioned above will allow kmg’s recoverable reserves to increase to an estimated 1 . 4 billion tons by 2022 .
- despite numerous delays , operations at the kashagan field are expected to begin . could the development of the kashagan field result in changes to the oil market ?
- without a doubt , the development of such a large field as kashagan ( its reserves are about 35 billion barrels or 4 . 5 billion tons ) will impact the oil market . the depletion period will be several decades and its development will bring billions of dollars in revenue to our country .
the kashagan project is the largest investment of international capital into the oil and gas industry of kazakhstan . from the beginning of the project to the present day , investment has exceeded $ 40 billion .
production from the field is expected to begin in the second half of this year . at the last stage of commissioning , production rates will grow to planned capacity – 20 wells ( producing ) 180 , 000 barrels per day in the first phase , with a further increase to 370 , 000 barrels per day with gas injection during the second phase .
it is worth noting that after the start of production at kashagan , the oil market may undergo some changes with regard to hydrocarbon transportation , as the development of oil fields often requires the diversification of export routes . to ensure the reliability of export routes of sufficient capacity and to efficiently transport kashagan’s hydrocarbons , it will probably be necessary to combine different modes of transportation , such as pipeline , rail and sea transportation .
the current plan for transporting the products extracted during the initial stage of field development involves the use of both the existing pipeline system and railway networks .
- the asian continent is increasingly becoming the driving force of global economic growth . to what extent has the growing importance of countries such as china impacted kmg’s strategy , particularly with regard to development of infrastructure ?
if we talk about each project , we can note that the construction of the kazakhstan - china oil pipeline focuses on oil transportation , both for export to china and to domestic refineries , thus ensuring kazakhstan’s energy security . work on the separate sections of the kazakhstan - china pipeline is being carried out by the following companies , with the participation of chinese companies :
the kenkiyak - atyrau oil pipeline – north - western pipeline company munaitas jsc , established with the participation of kaztransoil jsc ( kazakhstan ) – 51 % ; cnpc exploration and development company ltd . ( china ) – 49 %
also , the facilities of kaztransoil jsc are also involved in the kazakhstan - china oil pipeline system ( oil pumping stations and oil pipelines from kumkol to atasu ) .
the project is being implemented in phases according to growth in demand for additional oil transport capacity .
at the same time , we want to emphasise that the interest of oil producers in exporting to china will depend on the commercial conditions created by the chinese side in the alashankou section ( on kazakhstan’s border with china ) .
the largest trans - national gas transportation project implemented by kmg together with cnpc is the construction of the kazakhstan - china gas pipeline , which costs around $ 7 . 5 billion in total .
as for the pipeline , it is dual - line , it runs through the territory of three southern regions of kazakhstan , and it allows 30 billion cubic metres of gas per year to be transported from turkmenistan to china , via uzbekistan and kazakhstan . given the purpose of the main gas pipeline , the project has commercial benefit for our country in the form of payments to national and local budgets totalling $ 5 . 8 billion over the entire period of the project .
at present , the construction of the kazakhstan - china gas pipeline is expanding through the construction of another line , the third line of the pipeline , which will also be for transit gas transportation . its entry into operation is scheduled for the middle of 2014 , and the projected capacity will be achieved at the end of 2015 , after which the total capacity of the kazakhstan - china trunk pipeline will be around 55 billion cubic metres per year . direct payments to the state budget of the republic of kazakhstan for the entire implementation period of the third line project will total around $ 4 . 9 billion . therefore , total direct payments to the republic of kazakhstan’s budget over the whole implementation period for all three lines will amount to $ 10 . 7 billion .
another of the major projects undertaken by our company together with cnpc is the construction of the beineu - bozoi - shymkent gas pipeline , at a total cost of around $ 3 . 6 billion . the project is being carried out in accordance with the address of the president of kazakhstan in 2008 , and it is included in the state programme for accelerated industrial - innovative development and the industrialisation map of kazakhstan for 2010 - 2014 . the project is very important in social terms . the launch ceremony to release gas through the pipeline for the first time was held in early september of this year as part of the head of the prc’s visit to kazakhstan .
construction of the gas pipeline will ensure the country’s energy security by providing natural gas to the southern regions from the fields of western kazakhstan , eliminating dependence on imported gas , diversifying gas export routes from kazakhstan to china , and creating new jobs and developing infrastructure along the pipeline route .
the gas pipeline runs through the mangystau , aktobe , kyzylorda and south kazakhstan regions . the implementation of this project will allow the gasification of more than 500 settlements .
at present , construction of the first stage is finishing , but its opening is scheduled for this october , in accordance with the deadlines set by president nursultan nazarbayev .
- kmg is strengthening its relations with romania after the acquisition of rompetrol rafinare . what contributed to the targeted acquisition of rompetrol’s assets and what is kmg expecting to get from strengthening its positions in the country ?
- in addition to its assets in romania , kmg is actively investing in oil refineries in kazakhstan . how will the modernisation of refining capacities benefit consumers of oil products in kazakhstan ?
feasibility studies have been performed and approval from gosexpertiza ( kazakhstan’s state agency for examination of construction projects ) has been received for modernising and rebuilding the shymkent and pavlodar plants . project documentation is under development , and an accelerated strategy has been prepared and is under implementation in order to finish them by the end of 2015 . production capacity of these enterprises is planned to increase to 6 and 7 million tons per year respectively . currently , the shymkent and pavlodar refineries are carrying out selection procedures for general contractors for construction work .
for all three plants , the motor fuel will meet the euro 4 and 5 standards from 2016 according to the technical regulations of the customs union . total production of between 13 million to 14 million tons of motor fuels per year at a high refining depth of 87 - 90 % will meet the needs of the domestic market .
the start of production of fuels according to euro 4 and euro 5 standards also has an environmental dimension . we can see that the european union , as well as all other countries in its wake , is increasingly toughening quality requirements for motor fuels . why are they doing this , and do they need to do it ? it should be explained that gasoline itself , aside from other hydrocarbons directly involved in the combustion process , contains various components , including harmful and even dangerous ones . many people remember when tetraethyl lead was added to gasoline to increase the octane number ; now this is prohibited . also , for example sulphur , which when burnt in the engine cylinder is converted into compounds that cause acid rain and benzene , the product of the combustion of which ( benzopyrene ) has an adverse effect on living organisms .