Turlov aims to gradually reduce his share in the company’s stock to below 50 percent, in order to attract more, larger investments, particularly from the U.S.

Ramil Mukhoryapov’s company, Chocofamily Holding, is celebrating its 10th anniversary this year. Once a small start-up, Chocofamily is now one of Kazakhstan’s largest e-commerce companies.

Development of the Azeri-Chirag-Guneshli (ACG) oilfields and giant Shah Deniz gas field are the main energy projects in Azerbaijan.

Inflation has exceeded the central bank’s 3 percent target for several months. Annual price growth was 12.5 percent in November, down from a record high of 12.8 percent in October.

The projects with a total cost of $701 million are being implemented by Natural Gas-Stream, a joint venture of the Uzbekneftegaz and a German company Gas Project Development Central Asia.

The 200,000-barrel-per-day STAR refinery controlled by SOCAR was launched in 2018. The facility on Turkey’s Aegean coast processed 10.5 million tonnes of oil in 2020.