Azerbaijan

Oil-rich gained independence from the Soviet Union in 1991 amid political turmoil and against a backdrop of violence in Nagorno-Karabakh.

It has been famed for its oil springs and natural gas sources since ancient times, when Zoroastrians, for whom fire is an important symbol, erected temples around burning gas vents in the ground.

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In the 19th century this part of the Russian empire experienced an unprecedented oil boom which attracted international investment. By the beginning of the 20th century was supplying almost half of the world's oil.

In 1994 signed an oil contract worth $7.4bn with a Western consortium. Since then Western companies have invested millions in the development of the country's oil and gas reserves. However, the economy as a whole has not benefited as much as it might have done.