CITIC Construction may start producing base oils in Uzbekistan

Business Materials 27 November 2018 17:35 (UTC +04:00)

Baku, Azerbaijan, Nov. 27

By Fikret Dolukhanov – Trend:

China’s CITIC Construction may establish a joint production of Fischer-Tropsch derived base oils in Uzbekistan, Uzbekneftegaz oil and gas company said, referring to the results of the meeting with Assistant President of the Chinese company Yang Jianqiang.

The Uzbek side noted that a number of investment projects are currently being implemented in Uzbekistan, including deep processing of natural gas using methanol-to-olefins (MTO) technology, upgrading the Bukhara and Fergana refineries and building the fourth line of the Uzbekistan-China gas pipeline.

CITIC Construction already has experience in Uzbekistan in the construction of Kungrad Soda Plant and Dehkanabad Potash Plant. In this regard, the Uzbek side offered the Chinese company to consider the possibility of its participation in Uzbekneftegaz’s projects as an investor and partner.

The Chinese side has expressed interest in investing and participating in the projects of Uzbekneftegaz on a parity basis. The representatives of CITIC Construction offered to consider the possibility of co-production of Fischer-Tropsch derived base oils.

CITIC Construction is the building and engineering division of the CITIC Group (formerly the China International Trust and Investment Corporation), the Chinese state conglomerate. In 2011, the company's revenues amounted to $2.73 billion. The company is among the 100 largest construction companies in the world.

In January-October 2018, Uzbekistan reduced oil production to 624,300 tons, which is 9.2 percent less compared to the same period in 2017.

The production of natural gas in the reporting period amounted to about 49.46 billion cubic meters, which is 6.8 percent more compared to the same period of 2017.


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