Full Article: PDF
Scientific Object Identifier: http://s-o-i.org/1.1/TAS-05-157-28
DOI: https://dx.doi.org/10.15863/TAS.2026.05.157.28
Language: English
Citation: Otto, O.E., & Askarova, M.A. (2026). Problems of diversification of the oil and gas industry of Uzbekistan. ISJ Theoretical & Applied Science, 05 (157), 386-390. Soi: https://s-o-i.org/1.1/TAS-05-157-28 Doi: https://dx.doi.org/10.15863/TAS.2026.05.157.28 |
Pages: 386-390
Published: 30.05.2026
Abstract: The article examines the current challenges of diversifying the oil and gas industry under conditions of the global energy transition and instability in world hydrocarbon markets. The authors made the analysis of the dynamics of Brent crude oil prices, decline in oil production volumes in Uzbekistan, and the growth trends in renewable energy. The necessity of transitioning from a raw-material-based development model to a multi-sectoral structure with high added value is substantiated. The experience of Russian companies PJSC Rosneft and PJSC LUKOIL in the field of business diversification is examined. Particular focus is placed on the Uzbekistan’s public initiatives aimed at developing renewable energy sources and deep hydrocarbon processing. Economic and regulatory measures are proposed to stimulate the diversification of the oil and gas complex with a view to ensuring sustainable development and the transition to a green economy.
Key words: diversification, energy transition, sustainable development, renewable energy sources, price volatility, investment policy, Uzbekistan, green economy.
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