The oil and gas production has taken a massive hit due to the current lockdown situation. Oil production has been decreased by 35 percent while gas production is down by 17 percent in the two weeks of lockdown.
Oil production in the country during the third quarter of FY20 is likely to record a fall of 10 percent on year-on-year basis. Gas production during the same period is likely to contract by 5 percent on YoY basis due to their association with oil production, closure of Sindh based industries and lower demand by energy sector mainly Gencos.
According to field experts during the first nine months of FY20, oil production is likely to decline by 9.4 percent YoY to 22.3 million barrels. This is mainly due to the sharp difference between supply and demand. The demand has decreased massively due to local and private transport facing restrictions in movement due to lockdown
