Pakistan plans to construct petroleum and petrochemicals complex supported by Saudi
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The Pakistan government announced that it planned to construct a petroleum and petrochemicals complex with a maximum capacity of 450,000 barrels per day (b/d) in the Southwestern Balochistan province. Saudi Arabia would finance this plan. The costs were estimated at 14 billion dollars at present and Saudi was said to pay around 70% of those costs. In Pakistan, the current capacity of refineries is 450,000 b/d in total but the utilization rates seem to remain at about 55%. In the country, jet fuel for the air force is 100% domestically produced. On the other hand, the usage rate of diesel oil is 60% and that of gasoline is 30%. The country depends significantly importing oil products from other countries. The government is endeavoring to raise the usage rates of domestic oil products to rebuild public finances and build up foreign currency reserves. |
