Pakistan Crude Oil News
ISLAMABAD: Pakistan’s crude oil production would reach 90,000 bpd mark
this winter season, industry sources told Business92 Tuesday.
Sources said crude oil production of the Oil and Gas Development
Company (OGDCL) had recently touched the highest level of 48,767 barrels per day (bpd).
Pakistan’s total crude oil production is around 85,000 bpd and OGDCL’s
share is more than 57 percent.
The current government, they said, had so far added 32,000 barrel per day
in crude oil production, while additional 4,000 bpd oil would add to the system
during the current winter, bringing the production
capacity to 90,000 bpd mark.
Officials said the country is moving fast towards achieving self-reliance in crude
oil production after the government accelerated exploration of indigenous hydrocarbon
resources over the last three years.
“The crude oil production achieved by OGDCL has never been matched by any foreign
or local E&P company operating in Pakistan,” they said.
Byco Petroleum Company had established the country largest production unit,
having refining 120,000 bpd oil, in Balochistan last year.
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.
Pakistan imports 70 percent of oil to meet local demand and there is huge potential
in investment in oil and gas sectors.