Tashkent, Uzbekistan (UzDaily.com) -- Chairman of the Board of Uzbekneftegaz Mehriddin Abdullaev and the Working Group visited the Bukhara Oil Refinery and met with the plant’s specialists, as well as the group for the implementation of the plant’s modernization and reconstruction project. This was reported by the press service of Uzbekneftegaz.

According to the resolution of the President of the Republic of Uzbekistan from 4 April 2020 No. PP-4664 “On Priority Measures to Improve the Financial Stability of the Oil and Gas Industry”, the Chairman of the Board and members of the Working Group paid special attention to the issues of financial and economic condition of the enterprise, loading of the existing technological capacities of the plant, prices for raw materials supplied, including local ones, in the context of global changes in oil prices, issues related to the procedure for the sale of petroleum products through exchange trading, which entered into force on 1 May 2020.

During the visit, prospects for the implementation of the project of modernization and reconstruction of the Bukhara oil refinery were discussed. Issues of selling products on domestic and export markets, determining and providing a raw material base, technical and economic indicators of the project with various options for changing oil prices, and also the issues of payback on an investment project for the modernization and reconstruction of the plant are considered.

As a result of the implementation of the investment project for the modernization and reconstruction of the plant, it is expected to produce high-octane gasoline grades AI-91, AI-93, AI-95 and get the opportunity to completely abandon the production of gasoline grade AI-80, as well as the transition to the production of diesel fuel meeting Euro-5 requirements.

During the visit, the Chairman of the Management Board and members of the Working Group visited the key production facilities of the plant, got acquainted with the site for the planned construction of new technological units.

Following the results of the working visit, instructions were given to finalize and provide a presentation on the phased implementation of the investment project, as well as to accelerate the development of the FEED project, including the study and introduction of proposals on favorable loan conditions for the investment project (with the lowest interest for a longer period).