Raw material shortage disrupts the plans of Uzbekistan's largest oil and gas company

Uzbekneftegaz, Uzbekistan's largest oil and gas company, managed to significantly reduce its receivable debts and expenses in the first half of 2026. The company achieved financial discipline during this period by keeping receivables below the planned target of 1.2 trillion som and saving 1 trillion som in expenses. Additionally, oil depots that suffered losses last year generated a net profit of 5.4 billion som this year.

Despite this, the company failed to meet its diesel fuel and fuel oil production targets. Officials explained that the main reason for this decline is the restrictions in raw material imports caused by the geopolitical situation. To achieve the targeted production volumes, responsible units were ordered to take measures and eliminate the shortcomings by the end of the year.

Supply issues in the region also deeply affected Uzbekistan's diesel fuel imports. Particularly following Russia's temporary export restrictions, the country's diesel imports decreased by 18.7 percent in six months, falling to 283 thousand tons. Although domestic production showed a 7.9 percent increase in the January-May period, it experienced a significant annual decline in May.