ASHGABAT, Turkmenistan, April 30. Turkmenistan has sold a large volume of fuel oil, diesel fuel, and base oil to foreign entrepreneurs through its State Commodity and Raw Material Exchange, Trend reports.
According to the exchange, Turkmenistan sold low-sulfur fuel oil to entrepreneurs from Malta, the UAE, and Afghanistan for a total of $19.7 million.
Concurrently, UAE and Afghan businesses concluded a deal on the same exchange to purchase hydrotreated diesel fuel for a total of $3.4 million.
At the exchange, an entrepreneur from Germany also bought SN-180 base oil for a total of over $1.4 million.
Turkmenistan is striving to improve its oil refining industry, focusing on upgrading its factories and introducing cutting-edge technologies to improve the efficiency of refining processes and the quality of end products.
Parallel to the development of the domestic market, Turkmenistan is actively increasing petroleum product exports, entering into long-term contracts with foreign partners, and thus expanding its export geography, allowing the country to not only increase its economic potential but also strengthen its position in the global energy market.
The State Commodity and Raw Materials Exchange of Turkmenistan was established on July 29, 1994. It is the most important body of state regulation for export-import operations.