Nasir-ul-Mulk chairs a briefing on petroleum


Islamabad, June 7 (TNS): Prime Minister Justice (Retd) Nasir-ul-Mulk chaired a briefing on petroleum at Prime Minister’s Office.

Minister for Energy Barrister Syed Ali Zafar, Secretary to Prime Minister Mr. Suhail Aamir, Secretary Petroleum Mr. Sikandar Sultan Raja and senior officials attended the briefing.

Secretary Petroleum briefed the Caretaker Prime Minister about the petroleum sector with special focus on production and sector-wise consumption of gas and petroleum products in the country.

The Prime Minister was informed that the country’s current energy requirements of 79.58 Million Tonnes of Oil Equivalent (MTOE) were being met through 38% gas, 34% oil, 06% LNG and other resources including LPG, Hydro and coal resources. Secretary Petroleum also gave an overview of the available gas and oil reserves in the country and the cumulative province-wise production and their utilization.

The Prime Minister was informed that around 0.
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5 million consumers were being added annually to the existing number of 8.8 million of gas consumers in the country. It was informed that with diminishing domestic production, LNG requirement which currently stands at 1000 MMCFD was projected to reach 3600 MMCFD by 2030.

Secretary Petroleum, in his briefing, also highlighted certain issues concerning the petroleum sector including revision of gas sale prices.

The Prime Minister directed that besides attending to any emergent situation as per the mandate of the caretaker government, a comprehensive strategy should be worked out during this period for addressing petroleum related issues for the consideration of the incoming elected government.