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  4. Kazakh tycoon gives up stake in major oil trader
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Kazakh tycoon gives up stake in major oil trader

NUR-SULTAN (Reuters) - Kazakh billionaire businessman Timur Kulibayev has handed to the state energy company his stake of 49% in Petrosun, a large oil and oil products trader...
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Kazakh tycoon gives up stake in major oil trader © Reuters. FILE PHOTO: Timur Kulibayev, chairman of Kazakhstan's National Chamber of Entrepreneurs "Atameken", looks on during a chamber meeting in Almaty, Kazakhstan, February 9, 2016. Picture taken February 9, 2016. REUTERS/Shamil Zhumatov

NUR-SULTAN (Reuters) - Kazakh billionaire businessman Timur Kulibayev has handed to the state energy company his stake of 49% in Petrosun, a large oil and oil products trader controlled by China's CNPC, Kazakh Deputy Prime Minister Roman Sklyar said on Tuesday.

Petrosun buys and refines the lion's share of Kazakh crude that is not produced and marketed by Western oil majors, before selling it on the local market.

Sklyar did not give a reason for the decision by Kulibayev, a son-in-law of former president Nursultan Nazarbayev. Kulibayev could not be immediately reached for comment.

In April, another Nazarbayev relative, his nephew Kairat Satybaldy, handed to the government a stake of 29% in telecoms firm Kazakhtelecom after being arrested on charges of embezzlement and abuse of office.

Nazarbayev, who resigned in 2019 but had retained sweeping powers as the head of security council, lost that position during violent unrest in January.

His successor, Kassym-Jomart Tokayev, has since set up a panel to tackle monopolies and seize assets seen to have been privatised improperly.

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

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EUR/USD

1.0658

-0.0008 (-0.07%)

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GBP/USD

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USD/JPY

157.91

+0.12 (+0.07%)

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AUD/USD

0.6469

-0.0003 (-0.05%)

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USD/CAD

1.3780

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EUR/JPY

168.32

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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