ISLAMABAD: A private sector petroleum company, Trans-Asia, is going to set up a refinery having the capacity to produce 100,000 barrels of oil per day (bpd). This follows the refinery set up by Byco that established the country’s largest production unit in Balochistan in the second week of June. Setting up of back-to-back oil refineries shows the government’s seriousness towards resolving the energy crisis and achieving self-sufficiency in this sector, said an official in the Ministry of Petroleum and Natural Resources. Local as well as foreign investors, he said, were reposing confidence in prudent and business-friendly economic policies introduced by the government and making huge investments in the energy sector. “Trans-Asia will set up a refinery having capacity to develop 100,000 bpd of oil in Pakistan, for which it has imported all the required machinery and equipment. The company will announce the launching date after completing the formalities,” he added.
Published in The Express Tribune, July 1st, 2015.