Kazakhstan petroleum industry 2008-2010: trends of resource nationalism policy?

Abstract

A resource nationalism policy is a concept that emerged in the 20th century, the era of oil and decolonization. The first wave of resource nationalism took place in 1930s in Latin American countries. During the post World War II period, more and more countries used resource nationalism as their main policy tool. Resource nationalism was especially actively adopted in countries of Middle East such as Iran, Iraq and Kuwait. Adoption of resource nationalism policies resulted in the creation of OPEC in 1960s. Today the world is experiencing a new wave of resource nationalism. This is evident from recent actions of resource-rich countries such as Russia, Venezuela and Bolivia. Kazakhstan is not an exception as it is becoming one of the major oil producers in the world. The situation in Kazakhstan is also stipulated by following factor-many of the contracts concluded with International Oil Companies in 1990s are perceived as unfair and damaging to national interests. Since 2000, Kazakhstan has been gradually moving towards a resource nationalism policy. However, this article will analyse the most recent phase of this policy conducted during 2008-2010. Thus, this research article aims to answer the following question: What were the main trends of resource nationalism policy in Kazakhstan during 2008-2010? The analysis of main novelties in legislation, completed and ongoing disputes over giant oil and gas projects and recent cases of subsoil use contract cancellation will help a reader find an answer to the question stated above.