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Petroleum Production Up by 8% in Four Months of FY24

Petroleum Production Up by 8% in Four Months of FY24.

Pakistan Fuels Up: Petroleum Production Soars, Cement Climbs (But Jet Fuel Dips)

Pakistan’s petroleum industry roared back to life in the first four months of the current fiscal year (July-October 2023-24), with overall production surging by 7.55%!

This translates to a jump in the index from 85.81 to a healthy 92.29, marking a promising start to the year.

Read More: Saudi Aramco to Acquire 40% Stake in Pakistan’s GO Petroleum

High-Speed Diesel Leads the Charge:

  • Diesel production raced ahead by a whopping 14.80%, fueled by a 17% increase in output compared to the same period last year. This means more fuel for transportation and industrial activity, a vital sign of economic growth.

Furnace Oil Blazes a Trail:

  • Following suit, furnace oil production enjoyed a 16.34% surge, with output reaching 880.77 million liters compared to 757.06 million liters last year. This bodes well for industries relying on this fuel for heating and power generation.

Jet Fuel Takes a Dip:

  • However, not all skies were blue. Jet fuel production dipped by 13.02%, indicating a potential slowdown in air travel. This could be due to various factors, including global economic trends or travel restrictions.

Kerosene Maintains Altitude:

  • Kerosene oil, used for cooking and lighting in rural areas, remained relatively stable, with a slight 0.26% increase in production. This suggests a steady demand for this essential household fuel.

Cement Climbs the Ladder:

  • Beyond the petroleum sector, the construction industry also saw positive progress. Cement production grew by 7.10%, reaching 14.07 million tons compared to 13.13 million tons last year. This indicates continued investment in infrastructure and construction projects, further boosting the economy.

Overall, these figures paint a picture of a recovering Pakistani economy, with key industries like petroleum and construction showing positive growth.

While the jet fuel dip raises concerns, it’s important to note that it’s just one segment within a broader picture of progress. The overall upward trend in production across various sectors indicates a promising trajectory for Pakistan’s economic future.

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