Uzbekneftegaz’s petroleum depot network has posted a net profit of 25.2 billion soums in the first nine months of the year, reversing a 108.3 billion soum loss in the same period last year — the first time the depots have been in the black.
Uzbekistan has begun formal preparations to privatise the $3.42 billion Uzbekistan GTL plant, with an IPO also under consideration, but the agency leading the process could not provide current financial figures at a press conference — while a criminal trial over construction defects and a $1 billion Air Products deal add complexity to any future sale.
The Asian Development Bank will lend Uzbekistan $200 million to reconstruct 60 substations, cut transmission losses and unlock grid capacity for at least 3.3 GW of renewable energy, under a loan signed in Bangkok on 15 October.
Turkish energy company Aksa Enerji plans to sign agreements within a week to manage electricity distribution networks in Tashkent, Jizzakh and Syrdarya regions, extending a model already in place in Samarkand under a 30-year public-private partnership.
President Shavkat Mirziyoyev announced on 16 October the creation of an Investors’ Council for the fuel and energy sector, placing his daughter and Head of the Presidential Administration, Saida Mirziyoyeva, at its helm. The president cited bureaucracy and corruption as the explicit reasons for the new body.
President Shavkat Mirziyoyev announced on October 16 that Saida Mirziyoyeva will chair a newly created energy sector investors council, established in direct response to complaints from major international energy companies about land allocation delays, grid connection bottlenecks and slow issuance of technical specifications.
British Ambassador Timothy Smart is departing Tashkent after three years, leaving behind a bilateral trade relationship that expanded nearly eightfold, a new international commercial court in the works, and deepened security ties — with a high-level Uzbek delegation to London still to come.
Uzbekistan’s Deputy Minister of Investments, Industry and Trade Shohrukh Gulyamov held a series of bilateral meetings with major UAE companies in Abu Dhabi, advancing project frameworks for water treatment in New Tashkent, logistics digitalisation, gas transportation financing and urban development.
Saida Mirziyoyeva, Head of the Presidential Administration, met Henderson Land Group Chairman Peter Lee on October 16 to discuss potential joint projects in renewable energy, New Tashkent infrastructure and education, as Tashkent seeks to deepen investment ties with Hong Kong’s largest holding companies.
President Shavkat Mirziyoyev has announced the creation of an Investors’ Council for the fuel and energy sector, appointing Saida Mirziyoyeva, head of the Presidential Administration, to lead the body. The council is designed to resolve persistent administrative bottlenecks — from land allocation to grid connections — that have slowed major energy infrastructure projects.
The Akaltyn District Criminal Court has sentenced six people — including the teahouse manager and staff from an unlicensed gas-filling station — over a December 2025 explosion that killed six cooks at the Bek teahouse in Gulistan. The court also ordered the seizure of real estate and vehicles worth 8.7 billion soums.
Six energy agreements worth US$4.7 billion were signed at an investor dialogue chaired by President Mirziyoyev, adding 3,000 MW of generation and 400 MW of storage capacity. A new Investors’ Council will be chaired by Presidential Administration head Saida Mirziyoyeva, while tenders for a further 2,200 MW of solar and wind capacity are imminent.
