Tashkent, Uzbekistan (UzDaily.com) -- The net profit of the national holding company Uzbekneftegaz decreased by more than half at the end of 2023.

Last year, the net profit of Uzbekneftegaz amounted to 611.6 billion soums, which is 53% less than in 2022. At the same time, over the past three to four years, the profit of the state-owned company has decreased fivefold.

The assets of the oil and gas company reached almost 90 trillion soums, which is 13.1% more than the previous year. Revenue amounted to 14.7 trillion soums, which is 11.2% more than the same period in 2022.

However, financial indicators such as equity (48 trillion soums), retained earnings (5.7 trillion soums) and gross profit (3.1 trillion soums) decreased significantly.

Uzbekneftegaz significantly increased dividend payments; their amount doubled over the year and amounted to 2.5 trillion soums. Long-term bank loans decreased slightly from 18 to 17.6 trillion soums. However, short-term loans tripled, reaching 2.2 trillion soums.