Tashkent, Uzbekistan (UzDaily.uz) — US-based Gulf Oil is continuing its preliminary assessment of a proposed network of fuel stations along Uzbekistan's major highways, evaluating the project's potential profitability before making a final investment decision.
The company has already surveyed major highways across all regions of Uzbekistan and is now calculating the potential return on investment, Abrorjon Khudoyberganov, deputy chairman of Uzbekneftegaz responsible for refining, said on 27 October.
According to Khudoyberganov, potential sites for the proposed stations have been identified and the necessary documentation has been compiled.
Gulf Oil is currently assessing the project's commercial prospects, taking into account traffic volumes, the number of existing fuel stations, electric vehicle adoption and regional fuel demand.
Khudoyberganov emphasized that further steps would depend on the American company's findings. The project will not advance to its next stage until Gulf Oil completes its assessment and makes a final decision.
The potential ownership stake of Uzbekneftegaz also remains under discussion, with no specific terms for the state-owned company's participation agreed upon.
Cooperation between the two companies began in October 2025, when Uzbekneftegaz and Gulf Oil signed a memorandum valued at US$100 million. The agreement envisaged establishing a network of up to 100 fuel stations across Uzbekistan's regions.
In February 2026, Gulf Oil Vice President Craig Kramer announced the company's intention to open at least 100 fuel stations with convenience stores within two years.
Kramer also said Gulf Oil had received proposals from regional administrations to acquire approximately 200 existing fuel stations.
Uzbekistan's Energy Ministry previously stated that the project was expected to be financed by the foreign investor.
Under the proposed arrangements, fuel for the stations would be purchased through commodity exchanges on standard terms or imported from abroad.
Direct fuel supplies from Uzbekneftegaz and special incentives for the project were not envisaged.
