Report: Uzbekneftegaz completed 2016 with profit

Oil&Gas Materials 4 August 2017 15:47 (UTC +04:00)

Tashkent, Uzbekistan, Aug. 4

By Demir Azizov – Trend:

Net profit of Uzbekneftegaz, sole operator of the country’s oil-gas complex, amounted to 95.968 billion soums in 2016, as compared to the loss in the amount of 251.212 billion soums in 2015, says the company’s balance sheet report audited in accordance with the International Financial Reporting Standards (IFRS).

According to the report, Uzbekneftegaz’s assets rose by 25.8 percent, to 12.574 trillion soums, current assets increased by 33.7 percent, to 7.225 trillion soums, and fixed assets went up by 16.4 percent, to 5.348 trillion soums.

Liabilities of Uzbekneftegaz rose by 24.2 percent, to 11.761 trillion soums in 2016, and the company’s long-term liabilities increased by 25 percent, to 8.304 trillion soums, short-term liabilities – by 20.3 percent, to 3.457 trillion soums.

NHC Uzbekneftegaz was created in 1998. Currently, Uzbekneftegaz includes more than 200 enterprises of the industry, including seven specialized companies for exploration, development, production, transportation, design and capital construction in the oil and gas sector, as well as for the export of hydrocarbons.