Uzbekneftegaz increases net profits by 1.2 times in 2011

Uzbekistan, Tashkent, July 23 /Trend D.Azizov/

The net profit of the National Holding Company Uzbekneftegaz monopoly operator of the oil and gas industry of Uzbekistan amounted to 32.4 billion soum at the end of 2011 compared to 27.2 billion soum in the previous year (an increase of 19.1 per cent), the company said on Monday.

Income of the company from operations increased by 1.6 times up to 17.36 billion soum with the income from financing activities reaching 50.676 billion soum, increasing by 53.1 percent.

The company's assets increased by 75.2 per cent up to 2.232 trillion soum, including long term assets increasing by 58 per cent to 1.272 trillion soum and current assets increasing two-fold up to 959.18 billion soum.

The obligations of NHC Uzbekneftegaz on the basis of 2011 increased by 2.2 times - up to 1.556 trillion soum.

Own funds of NHC Uzbekneftegaz increased by 21 per cent last year up to 675.475 billion soum in the light of the authorised capital of $253.68 billion soum.

NHC Uzbekneftegaz was established in 1998 and brings together six joint stock companies. The capacity of the holding can provide natural gas production in the order of 70 billion cubic meters and liquid hydrocarbons to the amount of eight million tons annually.

According to official statistics, oil production in Uzbekistan decreased by 5.8 per cent in 2011 compared with 2010 up to 1.889 million tons and gas condensate - 9.8 per cent up to 1.696 million tons.

Natural gas production declined by 4.4 per cent, down to 63.04 billion cubic meters.

Gasoline production fell last year by 6.6 per cent - up to 1.308 million tons, kerosene by 11.2 per cent to 331.3 thousand tons, diesel fuel by 6.5 per cent, to 1.052 million tons, fuel oil by 13.8 per cent, to 276.6 thousand tons, liquefied hydrocarbon gas by 1.3 per cent, to 258.5 thousand tons and bitumen by 16.9 per cent to 164.6 thousand tons.

Official exchange rate of July 23 1896, 57 soum/$1

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