Uzbekneftegaz and UK banks discussed issues of expanding bilateral cooperation

    Finance 22 October 2024 1168

    During the visit of the delegation of Uzbekneftegaz JSC to the UK, the last meeting was held with representatives of Standard Chartered, ICBC Standard Bank, Citi, Deutsche Bank, Barclays and MUFG banks. The issues of attracting new credit funds were discussed at the meeting.

    During the negotiations, the latest corporate achievements and production results of the company, trends in the oil and gas industry, as well as priorities and financing needs for the future were discussed.

    Banks have expressed great interest in participating in financing the activities of Uzbekneftegaz JSC in 2024-2025.

    Various financial instruments were proposed, such as the organization of a syndicated loan, the issuance of additional Eurobonds and hedging strategies. Alternative sources of financing based on the Export Credit Agency (ECA) or the Multilateral Investment Guarantee Agency (MIGA) were also discussed.

    Special attention was paid to projects to reduce emissions, taking into account the specifics of the oil and gas industry and the implementation of goals in the field of ecology, social responsibility and management (ESG), the press service of Uzbekneftgaz JSC reports.