The country’s domestic production of crude oil has witnessed around 12. 8 percent increase during a nine-month period (July-March) of the last fiscal year. According to official data available with APP, the domestic production of crude oil remained 24.6 million barrels during the period under review as compared to 21.8 million barrels in the same period of year 2017-18.
Meanwhile, oil imports decreased by 15.38pc during the period under review, mainly due to an increase in international prices. The quantity of imported crude oil remained 6.6 million tonnes ($3.4 billion) as compared to 7.8MT ($2.9 billion) during the corresponding period of 2017-18.
The oil marketing companies, in the year 2017-18, imported around 13.3MT of petroleum products to meet the ever-growing energy needs. Out of the total, the private sector companies imported around 38pc petroleum products, including high-speed diesel (HSD), high sulphur fuel oil and low sulphur fuel oil (HSFO/LSFO), jet fuel, motor gasoline (MOGAS) and RON (Research Octane Number) 95 and 97.
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