PetroVietnam to pump Uzbekistan oil

January 13th, 2012

Vietnam’s state oil and gas group, PetroVietnam, will pump oil from Uzbekistan as it moves to step up overseas exploitation activities.

“PetroVietnam has been effectively conducting exploration work and is preparing to exploit oil in Kossor,” the PetroVietnam-run Nang Luong Moi newspaper said in an online report on Friday.

It did not give a timeframe for oil production.
The Hanoi-based group’s subsidiary PVEP has said it signed a contract to explore oil in Uzbekistan’s Kossor block last year.
PetroVietnam plans to sign a contract with Uzbekistan’s National Holding Company, Uzbekneftegaz, to explore the Bukhara and Khiva regions, the Nang Luong Moi report said.

As part of overseas oil production, PetroVietnam has been extracting oil from Malaysia’s Block PM 304 and two fields in Russia’s Nenetsky region, it said in a separate statement, according to Reuters.
PetroVietnam is targeting 2012 crude output to total 317,500 barrels per day, up 4% from 2011 mainly due to increasing overseas production.

Source: Upstream Online

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Armenian drug manufacturers wish to enter Uzbek market

January 11th, 2012

Uzbekistan’s medical drug market has prospects for Armenian drug manufacturers. This is noted in the Pharmacy and Biotechnologies program document, which is a part of Armenia’s industrial policy geared toward export.

In 2010, Armenia exported US$ 8 million-worth pharmaceutical products, and the annual export growth is close to 20 percent. By 2015, export is expected to reach up to $20-25 million, and by 2020, $75-115 million.

Armenian-made drugs are currently exported to these countries: Georgia (38%), Russia (18%), Uzbekistan (13%), Belarus (6%), Ukraine (5%), and Qatar (4%).

Uzbekistan’s market is considered to be full of prospect because of its low development level and large population.

Source: News.am

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Bulgaria’s Prista Oil Buys Chevron’s Stake in Uzbek Plant

January 11th, 2012

Prista Oil Group BV, Bulgaria’s biggest producer of brake-fluid and motor oil, bought Chevron Corp’s (CVX) stake in a blending plant in Uzbekistan, Prista Oil Chairman Plamen Bobokov said.
Prista Oil bought Chevron’s 50.1 percent stake in Uz-Texaco, a Fergana, Uzbekistan-based blending joint venture with state-owned Uzbekneftgaz, for an undisclosed price, Bobokov said in a phone interview in Sofia today. Prista Oil, in which Chevron Corp holds 25 percent, has two blending factories in Bulgaria, one in Hungary and one in Turkey.

“This acquisition helps us set foot on the central Asian market, which is more stable and predictable with the ongoing crisis in European markets,” Bobokov said. “We plan to export more than half of the Uzbek plant’s output, to neighboring central Asian countries, as well as Ukraine and Moldova.”

The new joint venture has been renamed Uz-Prista and is estimated to produce 48,800 tons of engine oils in 2012 and 50,000 tons in 2013, while sales are expected to reach $60 million next year and $65 million in 2015, Bobokov said.

“We are looking for new markets outside the European Union to help us compensate for the crisis, which will probably worsen next year,” Bobokov said. “We won a supply tender in Algiers and have orders from companies in Libya and Egypt for our Turkish plant.”

Prista Oil produces Valvoline motor oil in its plant near Istanbul in Turkey under a contract with Ashland Inc. (ASH) and owns Monbat AD (5MB), Bulgaria’s biggest car-battery maker. The company’s 2010 net income fell to 1.54 million lev ($1.06 million) from 5.4 million lev in 2009, according to the company’s website. The group’s total output rose to 66,000 tons of engine oils in 2010 from 59,000 tons in 2009.

Source: Bloomberg

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GM Aims To Grow in Russia, will import Chevrolet Cobalt from Uzbekistan

January 2nd, 2012

General Motors aims to leverage its relationships with several different Russian automakers to boost its presence in that rapidly expanding market. Among the Chevy models that will be sold in Russia are the Aveo, Cobalt, Cruze, Orlando and even the Camaro, with various cars to be assembled in Russia by Avtotor, GAZ and AvtoVAZ, as well as in Uzbekistan by UzDaewoo.

GM recently increased production capacity at its own plant in St. Petersburg to 100,000 cars per year, with the production launch of the Cruze sedan. By 2015, GM intends to boost the plant’s annual capacity to 230,000 units.

Jim Bovenzi, president and managing director of GM Russia and CIS, said the company expects its Russian sales this year will jump by 65-70 percent, to 245,000 cars.

In early 2013, GM plans to start sales of the Chevrolet Cobalt in Russia, according to Bovenzi, who said the car will be imported from Uzbekistan. There is no immediate plan to shift assembly to Russia.

Source: Insideline

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LUKoil produces first gas in Uzbek Gissar field

December 30th, 2011

Russia’s largest private oil company LUKoil accoplished its first gas production at the Dzharkuduk-Yangi Kyzylcha field, the largest deposit in Uzbekistan’s South West Gissar block, the company said late on Thursday.

LUKoil plans to produce 1.1 billion cubic meters of natural gas per year at Dzharkuduk at an initial stage under a production sharing agreement with Uzbekistan.

The company will also invest over $1.2 billion to build an infrastructure at Dzharkuduk and launch gas production at the large Adamtash and Gumbulak fields. Gas production at Dzharkuduk is to reach 16 million cu m per day or 5.8 billion cu m per year, the Russian oil company said in its statement.

LUKoil is also developing the South Kyzylbairak and Koshkuduk oil fields in South West Gissar. According to preliminary information, production at the two deposits will amount to 90,000 tons of oil in 2011.

Proven reserves of the South West Gissar block amounted to 1.417 billion cubic feet of gas and 23 million barrels of oil and oil condensate as of January 1, 2011.

Source: RIA Novosti

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Uzbekistan “Navoiazot” joined the founders of “Uz-Kor Silicon”

December 22nd, 2011

JSC “Navoiazot”, one of the largest enterprises in Uzbekistan on manufacture of fertilizers, has become one of the founders of Uzbek-Korean JV “Uz-Kor Silicon” for the production of silicon, the state joint-stock company (AMC) “Uzhimprom” told Trend on Tuesday.

“Uzkhimprom” made aEUR’aEUR’it clear that due to the joining of “Navoiazot” the founders of the company the size of the share capital of the “Uz-Kor Silicon” doubled — to 20.8 million from 10.4 million dollars.

At the same time share of “Navoiazot” in the joint venture will be 25 percent, the State Committee on Geology and Mineral Resources of Uzbekistan — 25 percent, Korean NeoPLANT — 50 percent.

JV “Uz-Kor Silicon” was established in 2008 by Goskomgeo of Uzbekistan and South Korea’s NeoPLANT on a par with the authorized capital of $ 10,4 million.

“Uzhimprom” also reported that the first phase of the project to organize the production of silicon in the Navoi region approved by government decree.

According to the Government’s approved feasibility study of project worth 20.45 million dollars in the manufacturing facility will include processing complex with capacity of 12 thousand tons of silicon and mining complex for the extraction of 39 000 tonnes of quartz a year.

Project will be financed by direct investments of NeoPLANT’s $ 8.65 million dollars, borrowed funds of Korean company $ 3.3 million, “Navoiazot”’s own funds — $ 5.2 million and “Asaka” bank’s loan — 3.3 million dollars.

According to “Uzkhimprom”, the construction of the plant for the production of silicon began this year in Navoi region next to the “Navoiazot.” Currently, construction is in its final stage, supplying technological equipment, it is mounting. As expected, the project will be completed in the first half of 2012.

According to Goskomgeo, in Uzbekistan revealed more than three thousand deposits and occurrences of minerals 1.5 thousand of which are prepared for the development of, including 50 deposits of precious metals, 51 — color of rare, radioactive and non-ferrous metals, 193 — Fuel and Energy raw materials, 32 deposits mining ores, as well as a significant amount of deposits of building materials.

Reserves of all kinds of proven minerals resources are estimated at $1.3 trillion, and total minerals resource potential of the country — more than $10.3 trillion.

Source: MENAFN

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Uzbekistan, China sign contract to deliver freight locomotives

December 21st, 2011

The State Joint Stock Railway Company Uzbekiston Temir Yullari (Uzbekistan Railways) has signed a contract with the Consortium of Chinese CNTIC (China National Technical Imp & Ex Corporation) and CNR DLRC (CNR Dalian Locomotive and Rolling Stock Co. Ltd) to supply 11 freight locomotives at a cost of $44.4 million, the head of Uzbekistan Railways told Trend on Wednesday.

The Uzbekistan Railways chief said that delivery of the first batch of locomotives is scheduled for early 2013 under its contract terms. Completion is scheduled for late 2015.

The contract will be funded by the Chinese Eximbank’s loan worth $42 million and Uzbekistan Railways funds.

Delivery of freight locomotives is carried out as part of the programme of renovation and upgrading rolling stock for 2011-2015.

During the last 10 years, Uzbekistan Railways purchased electric locomotives in China amounting to $114 million.

In 2002-2004, China’s CSR Zhuzhou electric lokomotive Co delivered 12 freight locomotives and spare parts worth $40 million to Uzbekistan Railways.

The contract was fully financed with credit from the European Bank for Reconstruction and Development allocated to the Uzbek government in 1999.

Source: MENAFN

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Construction of Uzbekistan-China pipeline’s 3rd branch starts

December 19th, 2011

Construction of the third branch of the Uzbekistan-China (also called Central Asia-China) natural-gas pipeline began in Bukhara Oblast December 15, Uzinform reported December 18.

Officials from the China National Petroleum Corporation and Uzbekneftegaz participated in the ground-breaking ceremony. Completion of the 529km pipeline segment is expected by the end of 2013.

The new branch is expected to deliver 25 billion cu. m. of gas annually, Uzbekistan Daily reported, adding China is paying for its construction.

Source: Central Asia Online

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China’s CNPC says Central Asia gas pipeline rate to hit 30 Bcm/year Jun 2012

December 16th, 2011

The transmission rate of the Central Asia natural gas pipeline will reach 30 Bcm/year in June 2012, up from the current transmission rate of 17 Bcm/year, state-owned China National Petroleum Corp. said Friday.

China has imported a total of 19.5 Bcm of natural gas since Turkmenistan began started supplying gas from late 2009, via the Central Asia pipeline’s A and B lines, according to a report in the company newsletter, China Petroleum Daily.

Turkmenistan began delivering gas to China late 2009 through a 1,911 km pipeline that runs through Uzbekistan and Kazakhstan, and enters China in the northwestern Xinjiang province.

In a deal signed in 2006, the Turkmen government undertook to export a total of 30 Bcm/year of gas to China for 30 years. Total imports will be increased by an additional 10 Bcm/year by 2015, following another agreement signed in August 2008.

The Central Asia pipeline connects to the western section of the second West-to-East pipeline within China, which spans a combined length of 8,653 kilometers.

The second West-East pipeline, which was built in two sections, passes through 15 Chinese regions and consists of one major line and eight sub-lines.

The western section, which starts from Korgas in Xinjiang province goes to the Ningxia and Shaanxi provinces in northwestern China. This segment came on stream in late 2009.

The eastern section, which commenced operations June 30, is designed to link Ningxia to Shanghai in eastern China as well as Guangzhou and Hong Kong in the south.

Meanwhile, a groundbreaking ceremony was held in Uzbekistan on Thursday on the start of construction of the Central Asia pipeline’s “C” line in Uzbekistan, CNPC said.

The Central Asia pipeline C line will span 1,840 km and has a designed transmission capacity of 25 Bcm/year, CNPC said in the report.

The new line will start to supply gas in January 2014, and gas transmission is expected to reach its designed capacity by December 2015, it said.

CNPC is also expected to start constructing the third West-East pipeline — which will receive gas from the C line — within China this year. The 5,200 km pipeline project will include one artery, six branch lines, three gas storage facilities and one LNG terminal.

The third West-East pipeline is expected to cost an estimated $2.2 billion. Work on a fourth and fifth West-East gas pipelines will begin after 2015, and both pipelines will have a capacity of 30 Bcm/year each.

Source: Platts

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Uzbek textile sector to invest in machinery production

December 16th, 2011

Textile enterprises in Uzbekistan would be investing US$ 7.5 million in manufacturing of modern equipment to enhance production and develop new types of competitive products for the industry.

The new machinery would include carding and tape equipment and knitting machines. These would be produced in collaboration with German company Terot and Swiss firm Rieter AG, both world leaders in design and manufacture of machinery.

Moreover, manufacturing of hosiery machines would be set up in Farghona region of the country in association with South Korean company TMC.

While Uzbek companies will fund 20 percent of the investment, 40 percent will be raised through loans from Uzbek banks, while the rest 40 percent would be availed form foreign banks.

Around 250 textile industries are functioning in the country, of which 195 are small and private enterprises, according to O’zbekyengilsanoat, the state-owned company tasked with promotion of high quality and competitive goods of light industry in domestic and export markets.

During January-September 2011, fabric production in Uzbekistan increased by 33.6 percent year-on-year to 943,000 sq m. Similarly, the production of knitted items rose by 7.8 percent y-o-y to 51.8 million pieces, while 851,400 pairs of stockings were produced, showing a growth rate of 89.2 percent y-o-y.

The total garment production during the nine-month period was worth UZS 39.5 billion.

Currently, around 150 investment projects are being implemented in Uzbek textile industry. The majority of investors are from Turkey, who account for 32 percent of the total investment in the sector. South Korea, United Kingdom, India and Russia account for 24 percent, 12 percent, 11 percent and 5 percent respectively of the total investment in the Uzbek textile sector.

Source: Fibre2fashion

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