Country's POL Products' Consumption Stood At 19.68 MTs In 2019-20

The government on Thursday said the country's total consumption of petroleum products stood at 19.68 Million Tons (MTs) during the fiscal year 2019-20, out of which 11.59 MTs was achieved through local refineries and 8.09 MT through import

ISLAMABAD, (UrduPoint / Pakistan Point News - 11th Jun, 2020 ):The government on Thursday said the country's total consumption of petroleum products stood at 19.68 Million Tons (MTs) during the fiscal year 2019-20, out of which 11.59 MTs was achieved through local refineries and 8.09 MT through import.

According the Economic Survey 2019-20 unveiled by Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh, the petrol consumption in the country was7.6 MTs/annum, out of which 30 percent was being catered from local refineries and rest was being imported to meet the national demand.

Similarly, the consumption of Diesel was around 7.3 MTs/annum. The local production can meet 65 percent of the total demand, while rest is being imported.

As many as five refineries namely PARCO, NRL, PRL, APL and Byco are operating in the country. Byco leads with major share in installed capacity by 38 percent followed by PARCO and NRL by 23 percent and 15 percent respectively; Whereas, APL and PRL possess 13 percent and 11 percent share respectively in domestic installed capacity.

Currently, thirty Oil Marketing Companies (OMCs) including Pakistan State Oil Company Limited (PSOCL), Shell Pakistan Limited (SPL), Total Parco Pakistan Limited (TPPL), Attock Petroleum Limited (APL), Gas & Oil Pakistan Private Limited (GOPPL) and Hascol Storage Limited (HPL) are operating in the country. Among these OMCs, PSO leads with an overall market share of 42.5 percent, followed by APL with 10.9 percent, TPPL 10.3 percent, HPL 9.8 percent and SPL 8.3 percent.

OMCs receive, store and distribute the petroleum products in the country by utilizing their supply arrangements and infrastructure, comprising of their installations, storage depots, oil pipelines and retail outlets. The bulk of 19.68 million tonnes of petroleum products required by the Pakistan's market is transported by road (around 74 percent), Oil pipelines (24.4 percent) and Railways (1.5 percent).