On a daily basis, the country’s oil and gas production has increased, according to a source quoted by Pak Petroleum Services on Thursday.
According to the Pakistan Petroleum Information Service (PPIS), daily crude oil production was 69,098 barrels in the week ending March 31, up 3.7% from the previous week.
This week’s crude oil production averaged 66,662 barrels.
Oil Production
This week’s gas production was 3,319 million cubic feet per day (MMCFD), which was 5.8% higher than the previous week. This week’s average gas output was measured at 3,139 mmcfd.
According to the numbers, POL produced 4,887 barrels of oil per day last week, PPL produced 12,154 barrels, OGDCL produced 32,494 barrels, and Mari Gas produced 1,061 barrels.
Furthermore, POL produced 64 mmcfd of gas, PPL 647 mmcfd, OGDCL 701 mmcfd, and Mari 944 mmcfd.
Access to cheap Russian crude has boosted output and profits at Indian refineries, enabling them to export refined products competitively to Europe and take bigger market share.
Europe typically imported an average of 154,000 barrels per day (bpd) of diesel and jet fuel from India before Russia’s invasion of Ukraine.
That increased to 200,000 bpd after the European Union banned Russian oil products imports from Feb. 5, Kpler data showed.
India’s imports of Russian crude in March rose for the seventh straight month to end out the fiscal year as top supplier to India, displacing Iraq for the first time, the data showed.
Indian refiners, which rarely bought Russian oil previously due to high transport costs, imported 970,000-981,000 bpd of it in 2022/23, accounting for more than a fifth of overall imports at 4.5-4.6 million bpd, Kpler and Vortexa data showed.
Imports from Iraq slipped to 936,000-961,000 bpd from nearly 1 million bpd in 2021/22, the data showed.
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