Deals
Karabalin Made Kazakh Oil Minister, Mynbayev KazMunaiGaz CEO
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Uzakbai Karabalin, the former chief of KazMunaiGaz National Co., was named Kazakhstan’s oil and gas minister while the incumbent will head the state-run explorer as the company takes a further stake in the Kashagan project.
President Nursultan Nazarbayev ordered Karabalin’s appointment today, according to a statement on the president’s website. Sauat Mynbayev, who has been oil minister since March 2010, replaced Lyazzat Kiinov as chief executive officer at KazMunaiGaz, parent Samruk-Kazyna said in an e-mailed statement.