Minister of State for Petroleum Mossadegh Malik has said that they cannot afford more expensive electricity, the consumption of furnace oil is ending in the country.
While giving a press conference in Islamabad, Mossadeq Malik said that local refineries provide about 50 percent of the country’s oil needs, and they want to install the latest oil refinery in the country. He said that they want to install three 4 lakh barrels per day refinery in the country, Pakistan’s annual requirement of petrol and diesel is 20 to 21 million tons, by 2032 the annual consumption of petrol and diesel in the country will reach 33 million tons.
Mossadeq Malik said that Pakistan has approved the new Greenfield Oil Refining Policy which will bring investment in the country. He said that energy security is essential for economic development in Pakistan.
Mossadeq Malik said that the crude oil ship from Russia is reaching Oman on May 27-28 and then this crude oil will reach Pakistan through small ships from Oman. He said that the ship 1 lakh tonnes of oil will reach Pakistan in 10 to 15 days. On this occasion, the journalist asked in which currency the crude oil will be paid to Russia? Mossadeq Malik said that payment is not a problem, all payment issues have been resolved.
