Pakistan’s petroleum product production surges by 6.49%

KARACHI: The latest data released by the Pakistan Bureau of Statistics (PBS) indicates a significant uptick in the production of petroleum products, with a notable increase of 6.49 per cent year-on-year (YoY) during the initial five months of the fiscal year 2024.

The positive momentum in the Petroleum and Oil Lubricants (POL) sector is underscored by the growth exhibited in various key products.

Kerosene oil, motor spirits, high-speed diesel, diesel oil n.o.s., furnace oil, and LPG all contributed to this surge, registering growth rates of 6.4 per cent, 5.18 per cent, 12.52 per cent, 40.08 per cent, 14.73 per cent, and 4.43 per cent YoY, respectively.

In contrast, certain products faced a downturn in production, reflecting negative growth trends. Jet fuel oil, lubricating oil, jute batching oil, solvent naptha, and petroleum products n.o.s. experienced declines of 12.45 per cent, 35.65 per cent, 20.49 per cent, 3.62 per cent, and 11.78 per cent YoY, respectively.

Zooming in on the monthly performance, November witnessed a notable increase in petroleum product production, recording a 2.77 per cent month-on-month (MoM) rise.

This positive trajectory highlights the industry’s resilience and adaptability, contributing to the overall economic landscape.

Industry experts suggest that these figures may have implications for the energy sector and broader economic indicators, highlighting the need for careful monitoring and analysis in the coming months.

The PBS data serves as a crucial reference point for policymakers and industry stakeholders alike, guiding strategic decisions and fostering a comprehensive understanding of the evolving dynamics within the petroleum sector.

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