TASHKENT, Uzbekistan, April 5. Uzbekistan's Saneg (the largest private oil and gas company) sold 5,500 tons of commercial oils in the country in 2023, Trend reports.
According to Saneg, one of the company's primary strategic objectives is to produce and market a greater range of commercial products, such as motors, gear, and industrial oils.
“We plan to sell more than 10,000 tons of oils in the domestic market this year, which is about 8 percent of the Uzbek market,” Saneg CEO Tulkin Yusupov said.
Earlier, Saneg announced the acquisition of CGC Lubricants Italy S.P.A., an Italian manufacturer of high-quality automotive and industrial oils and lubricants.
With this acquisition, Saneg significantly expands its presence in the European market and strengthens its position as a technology leader in the lubricants industry.
In addition, CGC Lubricants Italy has entered into a strategic cooperation agreement with SEG Motol (a subsidiary of Saneg), which is a leading producer of technical oils in Uzbekistan.
As a result of the transaction, CGC Lubricants Italy was renamed SANEG OIL ITALY S.P.A.
Saneg accounts for around 80 percent of Uzbekistan's oil production and approximately 22 percent of proven gas reserves. In 2022, the total volume of oil output was 586.4 tons, with 1.5 billion m3 of gas. The company employs more than 10,000 people in Karshi, Mubarek, Andijan, Navoi, and Ustyurt production facilities.