In 2023, Uzbekneftegaz’s net profit more than halved, the investment company Kapital Depozit said in a review. Last year, the company's net profit decreased down to 611.6 billion soums, which is 53% less than in 2022. Over the past three to four years, the company’s profit has fallen five times (in 2022 the figure was 1.3 trillion soums, and in 2021-2020 - 3.3 trillion soums each).
Uzbekneftegaz increased its assets by 13.1% - to 89.1 trillion soums, and revenue increased to 14.7 trillion soums (+11.2%). Own capital decreased to 48 trillion soums (-2.9%), retained earnings - to 5.7 trillion soums (-8.4%), and gross profit - to 3.1 trillion soums (-34.1%).
Dividend payments for the year doubled to 2.5 trillion soums. Long-term bank loans decreased slightly - from 18 to 17.6 trillion soums. While, short-term loans increased threefold - from 746.8 billion to 2.2 trillion soums.
As previously reported, Uzbekneftegaz has been investing hundreds of millions of dollars to increase gas production, but its production is falling every year.
The company also transferred its gas stations (UNG Petro) and the Chinaz oil refinery to Daniyar Kamilov's Petroleum Technology Group.
