The President of Turkmenistan Gurbanguly Berdimuhamedov during the meeting of the Cabinet of Ministers focused on the fact that according to the results of the first ten months of 2019, indicators in the oil and gas sector are behind the annual plan, Trend reports citing national Altyn Asyr TV channel.
As noted, the main reasons for this are the insufficient introduction of advanced technologies in production, passive work on placing high-quality petroleum products and polypropylene film on world markets, the report said.
It is necessary to introduce modern technologies, including through attracting foreign investment, the head of state emphasized. It was also stressed that expanding the scope of joint activities with foreign companies is needed.
The Turkmen president pointed out that it is also necessary to increase the production of gas-chemical products and study the possibilities of logistics to enter new markets, to properly organize the work of the plant producing environmentally friendly gasoline from natural gas.
Deputy Prime Minister Myratgeldy Meredov made a report and provided information on technical and economic indicators achieved in the areas of oil and gas condensate, natural and associated gas production, as well as gas export and investment development. The plan for the reporting period on oil refining was completed by 101.8 percent, gasoline production - by 100.1 percent, diesel fuel - by 103.5 percent.
At the same time, it was noted that the Turkmenistan State Commodity and Raw Materials Exchange, during the reported period, conducted 209 exchange trades and registered 25,448 contracts. The growth in total profit amounted to 41 percent. The main export items were petroleum products, cotton fiber, textiles and products of chemical industry.
Turkmenistan holds one of the key positions in the region in the supply of natural gas. Main importers of the Turkmen gas are China and Russia.
Official Ashgabat has embarked on the diversification of the local economy, the textile and oil products industries have advanced, the oil and gas chemical industries and the construction materials industry are actively developing.
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