Uzbekistan uncovers multi-billion dollar embezzlement at Uzbekneftegaz during large-scale audits

Bakhodirjon Sidikov, former Uzbekneftegaz chairman, is in custody as part of a State Security Service investigation into large-scale embezzlement and abuse of office involving multiple company executives.

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Bakhodirjon Sidikov, former chairman of the board of Uzbekneftegaz, has been taken into custody as part of an ongoing investigation into alleged large-scale embezzlement and abuse of office, as per to reports from several local media agencies, citing anonymous sources. The investigation is being led by Uzbekistan’s State Security Service.

Sidikov, who led Uzbekneftegaz for nearly four years, was dismissed from his position on December 17, 2025, following a transfer to another post. Abdugani Sanginov, chairman of Uzbekhydroenergo, was appointed as the new head of Uzbekneftegaz. Reports indicate that Sidikov’s new position has not been publicly announced more than a month after his dismissal.

Several other executives at Uzbekneftegaz are also under investigation on charges of embezzlement of budget funds on an especially large scale and abuse of office in managing the country’s oil and gas assets. The probe follows large-scale audits at the state-owned company, which reportedly uncovered embezzlement totaling billions of soums.

During a meeting on Janury 27, President Shavkat Mirziyoyev emphasized the importance of accountability in state institutions, questioning previous oversight failures within agencies responsible for security. State Security Service Chairman Bakhodir Kurbanov has been tasked with reviewing the responsibility of employees connected to Uzbekneftegaz.

In related developments, Alisher Sultanov was dismissed from his role as presidential representative for energy security, although the presidential press service did not provide reasons for his departure.

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