An Overview of Oil & Gas Sector
The petroleum products and natural gas account for 80% of commercial energy use, electricity for about 15% and coal & liquefied petroleum gas account for the balance. The total consumption of oil has been in the vicinity of 18 Million MT/annum with heavy reliance on Imports in the range of 6-8 Million MT/annum in recent years. Given the high level of imports, the economy of Pakistan is vulnerable to the fluctuations in world market prices of crude oil and products.
The transport sector is the largest user of petroleum products (48%), followed by power generation (35%) and industry (11%) while the balance is shared by other sectors including the residential sector.
Proven oil reserves are relatively small and are estimated around 300 million barrels. The Gas reserves are estimated around 27 trillion cubic feet (TCF) are equivalent to more than 25 years of current production/consumption estimated as 900 billion cubic feet/annum.
The scope of significant increase in gas production are there which would enhance the share of gas in the commercial energy mix. The shares of hydro electricity and coal are low, given the country’s large hydropower potential, and substantial coal deposits which have been discovered in the province of Sind.
The heavy reliance on petroleum products and gas, particularly on crude and product imports, calls upon the Energy Managers of Pakistan to diversify the sources of energy supply for strategic as well as financial considerations
The transport sector is the largest user of petroleum products (48%), followed by power generation (35%) and industry (11%) while the balance is shared by other sectors including the residential sector.
Proven oil reserves are relatively small and are estimated around 300 million barrels. The Gas reserves are estimated around 27 trillion cubic feet (TCF) are equivalent to more than 25 years of current production/consumption estimated as 900 billion cubic feet/annum.
The scope of significant increase in gas production are there which would enhance the share of gas in the commercial energy mix. The shares of hydro electricity and coal are low, given the country’s large hydropower potential, and substantial coal deposits which have been discovered in the province of Sind.
The heavy reliance on petroleum products and gas, particularly on crude and product imports, calls upon the Energy Managers of Pakistan to diversify the sources of energy supply for strategic as well as financial considerations
posted by ANM at
11:36 PM
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