BAKU, Azerbaijan, Apr. 9
By Ilkin Seyfaddini – Trend:
Uzbekistan intends to engage leading international consulting and auditing companies to create a road map by July 1, 2020 to improve the operational efficiency of enterprises in the oil and gas industry of the country, Trend reports citing Uzbek media.
This is envisaged by the resolution of President of Uzbekistan Shavkat Mirziyoyev "On priority measures to improve the financial stability of the oil and gas industry," the report says.
In addition, it is planned to hire highly qualified foreign experts and specialists to work in oil and gas companies, including compatriots living abroad, and to introduce anti-corruption compliance control by October 1, 2020.
The document also provides for increasing the capitalization of Uzbekneftegaz through increasing the state share in its charter capital at the expense of restructuring the principal debt and accrued interest on loans allocated to the company by the Reconstruction and Development Fund (RDF) for the implementation of investment projects, the report says.
From May 1, 2020 the intra-industry prices for oil and gas condensate will be linked to the prices of Brent oil on the world stock exchanges, as well as state regulation of the cost of RON-80 gasoline and diesel fuel is canceled. RON-90 gasoline is sold at market price starting from summer 2019, RON-95 and RON-98 - from the moment of their sale.
According to the statistics of 2019 compared to 2018, natural gas production in Uzbekistan decreased by 1.6 percent to 59.5 billion cubic meters, exports - by 9.4 percent to 13.5 billion cubic meters, oil extraction - by 6.3 percent to 698,600 tons, imports - by 59.7 percent to 183,400 tons.
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