Uzbekistan's gas and oil production slump persists through early 2024

In January 2024, Uzbekistan's gas extraction decreased to 3.99 billion cubic meters, according to the industrial production report provided by the Statistics Agency.

Compared to the energy crisis in January 2023, production dropped by 9.4% or 317.3 million cubic meters. Currently, this is the highest production level since March 2023 (4.16 billion cubic meters).

The volume of electricity production in the first month of the year amounted to 7.05 billion kWh (+0.5%), but this was 3% less than in December (7.27 billion kWh).

It is noteworthy that nearly 80-85% of the electricity produced in the country comes from gas-powered thermal power plants, but their share is decreasing with the commissioning of new photovoltaic power capacities.

Coal extraction decreased by 13.8% compared to January 2023, amounting to 357.8 thousand tons (-57.2 thousand tons). When compared to December (456.7 thousand tons), the reduction amounted to 98.9 thousand tons.

Oil extraction decreased to 60.5 thousand tons (-6.3% or 4 thousand tons), which is the lowest level since February 2022. Production has been declining for the sixth consecutive month.

During the month, 124.6 thousand tons of automotive gasoline were produced, which is 10.8% or 15 thousand tons less than in January 2023. Meanwhile, this is the highest level since July of the previous year (133.2 thousand).

Diesel fuel production decreased by 0.6% or 300 tons, amounting to 50.2 thousand tons.

The production of thermal energy decreased by 6.2% — from 3.07 million to 2.87 million Gcal, while the production of gas condensate increased to 111.7 thousand tons.

According to the Statistics Agency, the number of active enterprises throughout the year decreased by 25.2 thousand — to 68.69 thousand (the lowest in the last five years), nevertheless, the physical volume of industrial production increased by 16.6% compared to the crisis-ridden January of the previous year.

At the end of 2023, the volume of gas extraction in Uzbekistan decreased by almost 5 billion cubic meters. The production volumes of oil and gas condensate also decreased. However, coal extraction increased by 15.5% — up to 6.2 million tons. The production volumes of electricity, gasoline, and diesel also increased.