Petroleum production dips by 6.3% in 10MFY19

June 26, 2019 (MLN): The overall production of petroleum commodities has witnessed a decrease of 6.34 percent during the first 10 months (July-April) of the current fiscal year as compared to corresponding period of 2017-18.

According to the data released by Pakistan Bureau of Statistics, products that showed a negative growth include Jet Fuel Oil, Kerosene Oil, High Speed Diesel, Furnace Oil, Jute Batching Oil and Solvant Naptha, as they posted a decline of 8.83 percent, 2.01 percent, 7.15 percent, 11.47 percent, 12.62 percent and 28.7 percent, respectively.

Conversely, the production of Motor Spirit oil exhibited an increase of 6.99 percent, Diesel oil 28.07 percent, lubricating oil 12.14 percent and Liquefied Petroleum Gas 22.75 percent during the period under review.

On year-on-year basis, the petroleum production decreased by 9.14 percent during April 2019 as compared to the output of April 2018.

According to the Annual Plan 2019-20, the production of crude oil remained 21.86 million barrels against target of 32.50 million barrels, showing 67.26 percent achievement during first eight months of the current fiscal year.

The government has fixed domestic crude oil production of 29.39 million for the next fiscal year. An official at the Petroleum Division said that the government was making all-out efforts to achieve self-sufficiency in oil refining sector.

Elaborating the government efforts, he said Byco Oil Pakistan Limited has established an Oil Refinery at Hub, Balochistan, having capacity to purify 120,000 Barrel Per Day (5 million tons/annum) at a cost of $400 million.

Moreover, Byco has installed Single Buoy Mooring (SBM) facilities for transportation of imported Crude Oil and petroleum products from ships to the storage tanks. The capacity of said facility is 12 million tons per annum.

Similarly, Attock Refinery Limited has started producing Euro-II (0.05 % Sulphur HSD), besides it installed isomerization plant and enhanced the production of Motor Gasoline.

Likewise, Pakistan Refinery Limited has installed isomerization plant in 2016 and since then it has doubled production of Motor Gasoline.

Lastly, Pak Arab Refinery Limited is implementing its Coastal Refinery project at Khalifa Point, near Hub, Balochistan with an estimated cost of over $5 billion. It would be a state of the art refinery, having capacity of 250,000 barrels per day (over 11 Million tons per annum).

APP