To add to what Zaki said earlier, typically, refining and associated profits add almost 20% to the price of crude. So by creating these refineries, not only is Pakistan developing local jobs and creating new infrastructure, it is also saving 20% of its oil import bill AND saving 20% of the roughly $8.2B it spends annually on refined oil imports - a figure which continues to grow at a healthy pace. It is realistic to expect annual foreign exchange savings of about $2B by the time these refineries come online.
Worldmapper: The world as you've never seen it before
These plants are a sure way forward but there is still some time left before such ventures start bearing fruit.
We are not interested in general commentary about things being "not as easy as they sound". This is a thread that discusses a specific piece of news, about a specific project. If you have something tangible to say about this particular topic that genuinely calls into question the advertised capacity, please do so. Otherwise your position lacks credibility.
Anything positive no matter with source is a bad,sad and un crediable news for our indian pals.
Leave it Tech Lahore... let em enjoy the fire of positivity n development.
Desi enjoy it and have fun.
1) There is no Oil deal with Iran
2) Pakistan's oil production is around 65k and her consumption is 383,000bpd according to CIA factbook.
You are being confused between production and consumption.
Look at the united states, her oil consumption is around 19.95 million barrels per day according to CIA stats. Look at other european countries like Germany (2.5 million barrels), France (2.0) and The Great Britain whose oil consumption is above 1.7 million barrels per day.
All these respective countries are importing oil from Middle East, Russia and Venezuela etc. We all know Europe does not produce oil in large number of barrels (except norway). Now look at these millions of barrels of oil and compare it with Pakistan's 0.5 million of new plants.
Don't you think these plants are only a small % when compared to other nations? Look at the installed refineries in other countries for the same purposes. The owners of these plants are not fool. The arabs may be the foolish nation on earth but know how and where to trade oil and where to install these plants
Last edited by Zakii; 06-12-2010 at 02:13 AM.
Congratz. Gud news. .definately it will help pakistan economy.,,,best wishes from india
Here are some National figures :
Source : Pakistan Economic Survey 2009-2010 - Annual Figures for 2008-2009
Crude Oil : Imported 62,115,000 Barrels, Internal Production : 24,033,000.
So total Crude Refined in Pakistan : 86,148,000 Barrels
Byco Refinery Production : 100,000 Barrels per day i.e. 36,500,000 Annually = about 5 Million Tons
Refined Products : Imported 9,974,000 Tons, Internal Production 9,828,000 Tonnes
As such Byco is a good sized Refinery to meet Pakistan’s Internal Requirement.
There are no International Regulations for the Refining the AMOUNT of Petroleum Refining by any nation. IOW if a specific Refinery can refine Crude at a cheaper rate then so be it. The rest of the World will only be too happy to get cheaper products. The Regulations are for Technical Purposes i.e. Sulphur, antimony etc. content.
You must be aware that the Reliance Refinery Complex processes about 1,200,000 Barrels a day. The next door Essar Refinery processes about 300,000 Barrels a day and it is being expanded to process possibly 400,000 to 600,000 Barrels a day.
As such all three Refineries in Pakistan can go Full Throttle without the need of any International Approval. They can conume whatever quantity the want to in Pakistan and Export the Rest.
Where or Whether or whatever Pakistan's Refineries procure the Crude Oil is for them to decide and neither you nor I have any locus standi to question it!
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