160 oil and gas reservoirs discovered in Pakistan in last 10 years

News160 oil and gas reservoirs discovered in Pakistan in last 10 years

ISLAMABAD, Pakistan: The Minister for Energy (Petroleum Division) Omar Ayub Khan has said that a total of 160 oil and gas reservoirs have been discovered in Pakistan during the last 10 years.

In a written reply submitted in the National Assembly, Omar Ayub said that the discovered reservoirs are in different stages of appraisal and development, therefore, the estimated volume and value may vary based on actual production and its recovery factor.

The province wise break up of aforesaid discoveries during the year 2008-2018:160 oil and gas reservoirs discovered in Pakistan in last 10 years

Furthermore, the minister for energy told the House that at present total annual requirement of oil of the country is around 25.8 million tons per annum.

Required purchase and sale rates of petroleum products in Pakistan:

The minister said that the prices of petroleum products in the Country are linked with the International Arab Gulf market prices which fluctuate on daily basis and not in the control of government. Accordingly, the domestic oil prices are increased/decreased by including notified taxes and other cost components incurred on the supply of oil across the country.

Omar Ayub said that the government takes steps from time to time for providing relief to the consumers by adjusting any hike in international oil prices through reduction in the rate of taxes.

Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

Must read

Recent News

Mr Imran Khan this was you who gave extension to former COAS alone instead of other chiefs

Mr Imran Khan this was you who gave an extension to former COAS alone...

0
Islamabad, Pakistan: The jailed former Prime Minister Imran Khan has said that the extension (of Army chief) made institutions weaker rather than making them...

Does close partnership between China and Pakistan provide immunity to attack Chinese citizens?

0
Islamabad, Pakistan: There is no doubt that Pakistan and China are close partners and iron brothers, united by a bond of mutual respect and...

Kidnapping of Pakistani youths in Thailand

0
Monitoring Desk: Two more young boys from Pakistan are kidnapped in Thailand but the government of Pakistan is silent over such incidents.The entire Pakistan,...
Pakistan Minority Forum

Pakistan Minority Forum Calls for Urgent Action on Minority Rights: “Promises Must Be Honored”

0
Sahiwal, Pakistan: A powerful seminar held at the Arts Council Sahiwal, hosted by the Sahiwal Minority Forum Pakistan, brought together prominent political and social...
“Ustad Bashiruddin- A Restrained Grace” and “Bleeding Borders”

“Ustad Bashiruddin- A Restrained Grace” and “Bleeding Borders”

0
Lahore, Pakistan: In connection with the celebrations marking 150 years of Mayo School of Arts and National College of Arts, Lahore, Pakistan, the opening...
Advertisement