Over the past 10 years, Pakistan’s oil and gas production has witnessed a massive decline in place of the predicted growth, a scenario attributed to political instability, protection concerns, and a persistent lack of investment in exploration and improvement.
Due to the reasons referred to above, big reserves have no longer been determined during the last decade. According to data provided with the aid of the Pakistan Petroleum Information Service (PPIS), the country’s crude oil production has fallen significantly seeing that 2015. Back then, the each day production stood at ninety four,500 barrels.
However, via 2024, it had reduced to simply 70,500 barrels in keeping with day. This shows a stunning decline in petrol production of 24,000 barrels according to day over the last decade. The gas quarter has suffered a comparable destiny, with a discount of 900 million widespread cubic toes in keeping with day (mmscfd) over the identical duration.
By financial 12 months 2024, Pakistan’s gasoline production had decreased by using four.Four%, leaving the united states of america generating 3,116 million cubic toes of gasoline day by day.
Despite this grim state of affairs, a slight boom in oil production turned into observed in FY24, with every day output rising by means of 1.5%, bringing the overall to 70,536 barrels according to day. However, experts endorse that this minor boom is inadequate to offset the wider downward fashion determined over the last ten years.
