Pakistan needs to work on producing crude oil and petroleum to fulfil its demand
TURBAT: It is unfortunate that Pakistan is suffering from energy crisis due to inefficient utilisation of the existing resources’ reserves. This has simultaneously increased our dependence on other resources such as coal and gas for power generation purposes.
In 2005, the crude oil output in the country was nearly 24.12 million barrels, which only fulfilled 18% of the total demand. In our country, almost 50 per cent of the petroleum is used in the transport sector. We use petroleum in the industrial, domestic and agriculture sectors. From 2016-2017, petroleum usage went up to 27 million barrels, which was an increase of 9.64% from the previous year. This amount puts a huge burden on our import bill. Thus, Pakistan needs to work on producing more crude oil and hence petroleum, in order to fulfil its demand and ease the burden on our economy.
Hammal Ellahi
Published in The Express Tribune, February 26th, 2019.
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