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The American-Uzbekistan Chamber of Commerce (AUCC) seeks to promote trade and investment ties, cultural exchanges and bonds of friendship between the United States of America and the Republic of Uzbekistan. In performing these functions, the AUCC places primary emphasis on serving the needs and interests of its members.

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NEWS

PetroVietnam to pump Uzbekistan oil

13 January 2012

http://www.upstreamonline.com/ of 1/13/2012 - PetroVietnam, will pump oil from Uzbekistan as it moves to step up overseas exploitation activities.  "PetroVietnam has been effectively conducting exploration work and is preparing to exploit oil in Kossor," the PetroVietnam-run Nang Luong Moi newspaper said in an online report on Friday.  It did not give a timeframe for oil production.  The Hanoi-based group's subsidiary PVEP has said it signed a contract to explore oil in Uzbekistan's Kossor block last year.  PetroVietnam plans to sign a contract with Uzbekistan's National Holding Company, Uzbekneftegaz, to explore the Bukhara and Khiva regions, the Nang Luong Moi report said.  As part of overseas oil production, PetroVietnam has been extracting oil from Malaysia's Block PM 304 and two fields in Russia's Nenetsky region, it said in a separate statement, according to Reuters. PetroVietnam is targeting 2012 crude output to total 317,500 barrels per day, up 4% from 2011 mainly due to increasing overseas production.