Uzbekneftegaz did not propose taking back Fergana refinery after Saneg deal was cancelled

Uzbekneftegaz has not proposed returning the Fergana Oil Refining Plant (FNQIZ) to its structure after the plant reverted to state ownership. Suhrob Hamraev, first deputy chairman of Uzbekneftegaz's management board, said so at a press conference on 27 October, answering journalists' questions about the plant's future.

Hamraev said the plant left Uzbekneftegaz in 2018, when it was transferred to the State Assets Management Agency (Davaktiv), and was later put up for privatisation. Davaktiv is studying several options for managing the asset, including changing the management system, returning it to Uzbekneftegaz, attracting new investors or re-privatising it. Hamraev stressed that no final decision has been taken on handing the plant to Uzbekneftegaz.

Davaktiv director Sohibjon Murodov explained on 8 October that the plant's return to the state was caused by financial difficulties faced by the investor, Saneg. Under the contract, the seller could unilaterally cancel the deal if payments were delayed by three months. The plant lost 538.1 billion soums in 2025. In early June 2026, it became fully state-owned again.