Shavkat Mirziyoyev was briefed on major projects under way in the oil and gas sector. The presentation also covered another large project: efforts to increase output and restore financial health at the Fergana oil refinery.
Repairs to the plant's main process units have already raised diesel production by 30%, bitumen by 60% and aviation kerosene fivefold.
Wide-ranging measures will follow to secure a stable raw material supply for the refinery, make efficient use of existing capacity and reduce its debt. By the end of the year, the plant's utilization rate will be raised from 40% to 65% and increased further after that.
The head of state gave officials instructions to improve the effectiveness of geological exploration and drilling, to base large projects on careful calculations and clearly identified funding sources, and to pay particular attention to efficiency at sector enterprises.
The presentation also reviewed the financial results of Uzbekneftgaz JSC and its major subsidiaries. For the first nine months of this year, the enterprises' combined net profit rose from the same period last year. Debt fell as a result of optimizing the loan portfolio, and interest costs were reduced by renegotiating the terms of high-interest loans.
Projects to increase the capacity of the gas transport system received particular attention. They include building new trunk gas pipelines and modernizing compressor stations.
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