TASHKENT, Uzbekistan, March 4. Petroleum Technology Group has become the owner of Chinaz Oil Refinery in Uzbekistan, Trend reports.
According to the Unified State Register of Enterprises and Organizations, Petroleum Technology Group now owns a 100 percent stake in the Chinaz Oil Refinery.
Prior to that, the refinery was part of the state-owned Uzbekneftegaz (oil and gas industry company).
In 2022, the State Asset Management Agency announced a tender among consulting firms to support the privatization of the Chinaz refinery. In early 2023, the process of privatization of the refinery was announced. The plan was to sell 100 percent of the stake in the refinery.
The Chinaz Refinery, commissioned in August 2016, specializes in oil processing to manufacture gasoline, kerosene, diesel fuel, fuel oil and lubricating oils. Having modern technological equipment, the enterprise is capable of processing up to 117,000 tons of hydrocarbon raw materials annually. The authorized fund of the enterprise is 102 billion soums.
Meanwhile, Petroleum Technology Group became the owner of UNG Petro gas stations network in Uzbekistan. UNG Petro has about 80 filling stations.