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    Central Asia

    Uzbekistan to increase Russian oil imports by 10% in 2024

    Uzbekistan to increase Russian oil imports by 10% in 2024

    Uzbekistan has announced plans to increase imports of Russian oil transiting through Kazakhstan by 10% in 2024. The press service of Kaztransoil, the national oil transporter in Kazakhstan, reported that the volume of transit of Russian oil through the territory of Kazakhstan to Uzbekistan will increase from the planned 500,000 tons to 550,000 tons.

    KazTransOil oil pumping zone.
    Source: KazTransOil

    In accordance with the schedule of the Ministry of Energy of Kazakhstan, Kaztransoil will pump 25,000 tons of oil from Russia to Uzbekistan in January.

    Saneg’s Application

    At the end of November last year, the Uzbek company Saneg, one of the largest private oil and gas companies in Uzbekistan, submitted an application to Kaztransoil for the supply of 500,000 tons of Russian oil to Uzbekistan. The application also indicated the possibility of doubling the annual volume - up to 1mn tons.

    Russia’s Plan

    In December, the Minister of Industry and Trade of the Russian Federation, Denis Manturov, announced plans to increase the supply of oil and petroleum products to Uzbekistan. This move aligns with Uzbekistan’s broader strategy to diversify its energy sources and strengthen economic cooperation with key regional partners.

    Denis Manturov.
    Source: Interfax

    Historical Context

    Deliveries of Russian oil in transit through Kazakhstan to Uzbekistan began in 2017. Then the volume of transit in one year amounted to 67,900 tons, and the next year it decreased by almost half - to 35,800 tons. However, in the period from 2019 to 2022, there was no transit pumping of Russian oil to Uzbekistan. Last year, Kaztransoil supplied more than 150,000 tons of oil from Russia to the republic.

     

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    26.01.2024, 22:13   Comments (0)   2077
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