BAKU, Azerbaijan, Apr. 7
By Ilkin Seyfaddini – Trend:
Uzbekistan's domestic prices for oil and gas condensate sold by Uzbekneftegaz JSC and Shurtan Gas Chemical Complex LLC will be linked to Brent oil prices on world exchanges starting from May 1, Trend reports citing Uzbek media.
This was approved by a presidential decree "On priority measures to improve the financial stability of the oil and gas industry.
In addition, the tariffs on services for storage of oil products and hydrocarbons in free capacities of oil depots will be approved for business entities engaged in import of oil products and hydrocarbons.
The price of Brent, as of 6 April 2020, is traded at $33.3 per barrel. In early March, amid the collapse of the OPEC+ deal to reduce production and the COVID-19 pandemic, oil prices fell to a 20-year low record.
From May 1, Uzbekistan has cancelled state regulation of prices for RON-80 gasoline and diesel fuel. The price will be set freely at stock exchange trades, based on market conditions, supply and demand.
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