Kazakhstan's Atyrau region prosecutor's office has imposed a substantial fine of nearly KZT 13.7bn (over $28.8mn) on Caspiy Neft, a company linked to Timur Kulibayev, son-in-law of the former President Nursultan Nazarbayev.
The fine stems from the company's unauthorized storage of more than 4,500 tons of hazardous waste generated during 2021-2022 from drilling and field operations.
The fine, imposed under Article 328 of the Code of Administrative Offenses for violation of standards for permissible anthropogenic impact on the environment, has been directed to the National Fund of Kazakhstan.
Caspiy Neft, which is wholly owned by Joint Resources—a company where Kulibayev is listed as a shareholder—was found in breach of environmental regulations.
CASPIY NEFT AO is a leading oil company in Kazakhstan, known for being a vertically integrated holding with international recognition. Its industrial complex encompasses oil and gas production, petroleum refining, petrochemicals, tire manufacturing, a network of gas stations, and various services. Additionally, CASPIY NEFT holds interests in financial sectors such as banking and insurance.
Timur Kulibayev, married to Dinara Kulibayeva, Nazarbayev's middle daughter.
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