Engineering Post Report
Pakistan’s crude oil’s local extraction reached to 68.9 million barrels in July 2020-March 2021 from 58.6 million barrels in corresponding period last year while share of import in July-March 2021 remained .2 million barrels as compared to 38.8 million barrels in same period last year.
Similarly in July-March 2021, consumption of petroleum products increased to 14.7 million ton from 12.5 million ton in period under report,. Oil storage of 38579 metric tons was added in the country’s logistics during the period pf July-March 2021 at the cost of Rs 5786.8 million.
Four licenses for construction and one license for operation of Lube Oil Blending, Reclamation and Grease Plants were issued. Five licenses for setting up of Lubricant Marketing Company (LMC) and three Operational Licenses for LMCs were also issued during the period under report.
These provisions of licenses will obviously enhance the domestic supply of crude and hopefully will also decrease the country’s import bill.
