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Economics

Uzbekistan may become a partner in a new oil refinery in Azerbaijan.

Uzbekistan is considering participating in a project to build a new oil refinery in Azerbaijan. It is expected that some of the automotive and aviation fuel produced at this facility will be exported to the Uzbek market.

This initiative was announced by Energy Minister Sherzod Khodjayev. He also announced that the parties are negotiating the joint production of petroleum products at the facilities of both countries.

According to the minister, such cooperation will allow for a more stable supply of fuel to Uzbekistan's domestic market. At the same time, the countries are developing a hydrocarbon production project on the Ustyurt Plateau and are working with Kazakhstan to export green electricity generated in Uzbekistan to Europe.

Earlier, it was reported that Uzbekneftegaz and Azerbaijan's SOCAR reached an agreement to jointly explore the possibility of creating a network of modern gas stations in Uzbekistan.

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