Crude oil production stands at 24.2 mbl in nine months


ISLAMABAD, June 6 (APP): Pakistan’s domestic crude oil production
stood at 24.2 million barrels (mbl) in first three quarters of the current fiscal year as compared to 24 mbl during the corresponding period last year.
“Indigenous resources of oil are not enough to quench energy thirst of
a growing economy, so the country imported 5.9 million tones crude oil to meet its domestic needs from July 2016 to March 2017,” official sources told APP.
They said the government was making all-out efforts to accelerate oil
and gas exploration activities in different potential areas of the country, for which it would spend Rs 554.291 million in the next fiscal year.
The current government, they said, had so far added over 36,000
barrels oil per day (bpd) in crude oil production, bringing the production
capacity to 90,000 bpd mark.
Presently, they said, as many as six oil refineries were operating in the country and they had full capacity to refine the product as per needs of the country.
Currently, 70 percent of the current oil demand is met through import
and the government has planned to set up more oil refineries in the
coming days, they added.