ISLAMABAD -- Currently, five refineries are operating in the country with overall installed capacity of 417,400 barrel per day (BPD) oil and contributing significantly in meeting the petroleum needs through indigenous production.
Pak Arab Refinery Limited (PARCO) has 100,000 BPD oil refining capacity, Attock Refinery Limited (ARL) 53,400 BPD, Byco Petroleum Pakistan Limited (Byco) 150,000 BPD, National Refinery Limited (NRL) 64,000 BPD and Pakistan Refinery Limited 50,000 BPD, according the Economic Survey 2019-20.
As per the data, Pakistan's total consumption of petroleum products stood at 19.68 Million Tons (MTs) during the fiscal year 2019-20, out of which 11.59 MTs was achieved through local refineries and 8.09 MT through import.
The petrol consumption in the country was 7.6 MTs per annum, out of which 30 percent was being catered from local refineries and rest was being imported to meet the national demand.
Similarly, the consumption of Diesel was around 7.3 MTs/annum. The local production can meet 65 percent of the total demand, while rest is being imported.
At present, thirty Oil Marketing Companies (OMCs)...