Crude Oil Production, Refining Capacity Increasing Step by step: Official
ISLAMABAD, Might 5 (APP): Pakistan is shifting quick towards achieving self-reliance in crude oil manufacturing after the federal government accelerated exploration of indigenous hydrocarbon resources during the last three years.
“Capacity to supply crude oil and its indigenous refining is
increasing steadily. Now, the country has began transferring renewable energy technology international ab on the path of achieving self reliance in the sector,” a senior official of the Ministry of Petroleum and Natural Sources advised APP.
Pakistan’s complete crude oil production was ninety,000 barrels per day.
Answering a question, he mentioned, the Byco Petroleum Firm had
established the country largest production unit, having refining one hundred twenty,000 bpd oil, in Balochistan last year.
He said the country’s oil refining capacity had dropped from 50 per cent mark, which was not thought-about a superb sign for the national financial system.
Presently, he stated, as many as six oil refineries have renewable energy technology international ab been working within the country and they’d full capability to refine the product as per wants of the nation.
However, he mentioned, loads of work was but to be finished in the exploration sector to achieve autarky.
He mentioned presently 70 percent of the present oil demand was met via import and the federal government had deliberate to set up more oil refineries in the approaching days.
Not too long ago, he stated, the government in a significant transfer to achieve
self-reliance in the oil manufacturing sector, had given the task to Pakistan Arab Refinery Firm (PARCO) to finish the much delayed multi-billion
dollar Khalifa Coastal Oil Refinery undertaking.
The coastal refinery may have the capability to refine 250,000 bpd – equal renewable energy technology international ab to 13 million tons of petroleum merchandise per 12 months, he added.
The mission, permitted in October 2007, was suspended a number of instances on account of paucity of funds, they added.