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Net profit of Uzbekistan’s state operator in oil-gas complex decreases by over 40 percent

Business Materials 18 July 2013 19:05 (UTC +04:00)

Uzbekistan, Tashkent, July 18 / Trend, D. Azizov /

The net profit of "Uzbekneftegas'", the monopoly operator in Uzbekistan's oil-gas complex was estimated at 18.87 billion soms in 2012, compared to 32.4 billion soms in the previous year (by 41.8 percent decrease), the Holding reported.

According to the report, the Holding's profit from basic activity increased by 2.1 times to 32.273 billion soms; profit from financial activity hit 67.542 billion soms , increasing by 33.3 percent.

The assets of the company have grown by 1.7 times- to 3.795 trillion soms, as well as long-term assets - by 2.2 times ( to 2.764 trillion soms), current assets - by 7.5 percent (to 1.031 trillion soms).

"Uzbekneftegas" bonds increased by 16.4 percent- to 1.811 trillion soms; long-term bonds increased by almost two times to 1.202 trillion soms, current bonds decreased by 35.5 percent (to 608.676 billion soms) in 2012.

The company's funds increased by 2.9 times to 1.983 trillion soms. Charter capital increased by 3.9 times- to 997.64 billion soms last year.

"Uzbekneftegas" National Holding Company was established in 1998 and unites six shareholding companies. The company produces 70 billion cubic meters of natural gas and 8 million tons of liquid hydrocarbons per year.

According to official statistics, Uzbekistan decreased liquid hydrocarbon production by 11.6 percent in 2012, compared to 3.165 million tons in 2011. Moreover, oil production decreased by 17.4 percent ( to 1.561 million tons ), gas condensate production- by 5.6 percent ( to 1.604 million tons). Natural gas production decreased by 0.2 percent- to 62.911 billion cubic meters last year.

Petroleum production decreased by 6.3 percent- to 1.226 million tons, kerosene production- by 8.1 percent ( to 304,500 tons), diesel fuel production- by 2.9 percent ( to 1.021 million tons), fuel oil production- by 8.2 percent ( to 255,200 tons), oil bitumen production- by 8.1 percent ( to 151,300 tons) last year.

The official exchange rate is 2101.48 soms/$1 on July 18.

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