‘Pakistan’s oil reserves will last only 6 days’January 26th, 2009 - 5:38 pm ICT by IANS
Islamabad, Jan 26 (IANS) Pakistan’s petroleum reserves will last only six days and its furnace oil stock will run out in nine days, a media report said Monday.Confirming this, Petroleum Ministry Additional Secretary G.A. Sabri told GEO TV: “We are currently importing petroleum products based on 10 days’ inventory keeping in view the dollar constraints.”
He also expressed optimism the situation would improve in the next few days.
According to data available with GEO TV, in the corresponding period of the last year, the country had petrol reserves for 20 days and furnace oil for 21 days.
Pakistan annually requires some 60 million tonnes of oil, two-thirds of which is imported. Oil meets about 43.5 percent of the nation’s primary energy needs, natural gas 38.3 percent and coal 5.1 percent, while the remainder is met by hydro-electricity and nuclear power.