The price of 80 gas stations of the state-owned company "Uzbekneftegaz," which were privatized by Petroleum Technology Group, could have amounted to at least $100 million. The estimated amount was calculated based on open data by "Gazeta.uz."
In early March, "Gazeta.uz" reported that Petroleum Technology Group, owned by Daniyar Kamilov, acquired UNG Petro, the largest network of gas stations in Uzbekistan, with a charter capital of 101 million sum. Details of the deal have not been disclosed by the State Assets Management Agency yet.
By the end of 2022, UNG Petro operated 77 stations, including 69 petrol stations, 6 gas refueling stations, and 2 gas compressor stations. The company was reported to have 78 stations during the privatization plans in May 2023.
In the investment program for the first quarter of 2024, it is indicated that "Uzbekneftegaz" will build two stations in the Bukhara district and Sergeli district of Tashkent for $2.5 million. This suggests that the construction of one station could cost around $1.25 million, excluding land costs and location factors.
Comparatively, Russian company "Tatneft" invested $1.3 million in expanding its gas station network by purchasing a station in Tashkent. Meanwhile, local company Uchqun Avto Trans plans to build a station for $0.5 million.
According to the Tax Committee data, UNG Petro's turnover in 2023 amounted to approximately $178 million, a 20.4% increase from 2022. The company paid taxes of 85.5 billion sum, almost half of the previous year's figure, due to the exemption of excise tax on AI-80 gasoline sales in 2023.
Petroleum Technology Group also acquired the Chinaz oil refinery, formerly owned by "Uzbekneftegaz."
