CNPC Invests $5 Bn in Uzbekistan

China National Petroleum Corporation (CNPC) has invested $5 bn directly into Uzbekistan, according to figures announced during President Shavkat Mirziyoyev’s meeting with the company’s leadership in Beijing.

Talks focused on strategic projects such as the construction of underground gas storage facilities and the modernisation of energy infrastructure across the country. One of CNPC’s major undertakings in Uzbekistan is the upgrading of the Bukhara oil refinery, a key facility in the national energy system.

CNPC is China’s largest state-owned oil and gas enterprise. Its activities cover exploration, production, refining and sales of oil and natural gas, alongside the development of petrochemical industries. The company operates not only in China but also in over 30 countries, including in Central Asia, Africa and the Middle East.

Kursiv also reports that Uzbekistan and China have agreed to launch a comprehensive cooperation programme that links Uzbekistan’s «Uzbekistan-2030» development agenda with China’s Belt and Road Initiative.