Uzbekneftegaz Stands Out With Substantial Revenue Boost
Date
7/7/2024 12:17:58 AM
(MENAFN- Trend News Agency)
TASHKENT, Uzbekistan, July 7. The oil and gas
business Uzbekneftegaz (Uzbekistan's oil and gas company) earned
27.44 trillion Uzbek soums ($2.2 billion) last year, up 11.4
percent from 2022 , Trend reports.
According to the company, revenue growth was driven by an
increase in Natural gas tariffs from November 2023 and an increase
in production at the 'Uzbekistan GTL' plant compared to 2022.
An indicator equal to the volume of profit before interest,
taxes, depreciation, and amortization (EBITDA), reflecting the
group's operating profitability, increased to 13.5 trillion Uzbek
soums ($1 billion), which is 21 percent higher than in 2022 (11.14
trillion soums, or $890 million).
Revenue from Uzbekistan GTL rose to 3.06 trillion soums ($244
million), boosting EBITDA.
Furthermore, the company took measures to stabilize the cost of
production and achieve significant EBITDA growth of 2.35 trillion
soums ($187 million) compared to 2022, which was also noted in the
first half of 2024.
Meanwhile, natural gas accounts for the majority of the
company's production output. Uzbekneftegaz generated 6.9 billion
cubic meters of natural gas during the first quarter of 2024.
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