Govt Will Carry Out The Hub Oil Refinery This Year

Islamabad: Before the end of this year, a media outlet reports, the govt will carry out the development of the oil refinery in Hub, Balochistan. The coastal petroleum refinery can generate 250.000 barrels a day (BPD).

The Pak-Arab Refinery Limited (Parco), which has estimated costs over $5 billion, proposes the development of a coastal refinery in the province. The business hopes to finish the project by the end of 2023, according to a senior official.

For the development of the project, the state provided 1,000 acres of land. The official added that the refinery was an advance in creating Pakistan autonomous in the oil industry. He found that domestic manufacturing of crude oil was up 12.8 percent from July 2018 to March 2019.

The median annual fuel consumption of the country is around 26 million tonnes. According to the sources. 50% of the petroleum is imported and 13,5 million tonnes are locally produced.

The official also indicated that the state is planning to construct another oil and chemical complex in the profound seaport city of Gwadar in cooperation with Saudi Arabia.