TASHKENT — Uzbekistan's primary oil and gas company, Saneg, is preparing to substantially boost its Russian oil imports by the end of this year, with plans to purchase around 550,000 tons, a significant increase from last year’s totals.

According to Trend News Agency, data from the analytical company Argus indicates that the projected imports for the year mark a substantial rise of 395,700 tons over the 154,300 tons imported throughout 2023. "This year's import plan underscores a significant escalation in our energy collaboration with Russian suppliers and reflects our expanding refinery capacity needs," a Saneg representative stated.

The increased imports have already been evident in the shipments received at the Fergana refinery, owned by Saneg, from Gazprom Neft. From January through May, the refinery received 132,900 tons of crude oil, a considerable increase from the 48,700 tons during the same period last year.

This uptick in oil transactions is part of a broader surge in energy trade for Uzbekistan, with the total trade turnover of oil, petroleum products, and similar materials reaching $1.8 billion from January through August 2024. This represents an 80 percent increase compared to $1.1 billion in the same period of the previous year, with oil exports and petroleum products from Uzbekistan accounting for $409.4 million and imports totaling $1.4 billion.