950819

Pakistan going

ahead with

plan to enhance

oil production

LAILA A ALI

QUETTA: Pakistan is going ahead with its development plan for enhanced production of finished oil products following approval of two more refineries.

An official spokesman said here on Saturday that these refineries involing a total development outlay of $1800 million would annually produce 10.5 million tonnes.

At present Pakistan has a refining capacity of 6.3 million tonnes against its demand of 14 million tonnes.

The spokesman said site for oil refinery is under selection along the Pakistan coast. According to the blueprint, this refinery with Kuwait's assistance would cost one billion dollars.

It would have an annual capacity of six million tonne.

Another refinery with South Korean collaboration costing 800 million dollars at Badin (Sindh) would have the capacity of 45 million tonnes.

Apart from these two refineries, the present government had decided on developing bulk chemical and LPG terminal at Port Qasim.

This development project is designed for the storage of 40,000 tonnes of chemicals and 6,000 tonnes of LPG.

Under an agreement, efforts for laying furance oil pipeline from Port Qasim to Jamshoro (Sindh) are also underway. Another fuel oil pipeline from Port Qasim to power plant at Hub (Balochistan) under execution is expected to be ready by the middle of next year.

These projects are part and parcel of the present PPP Government to redouble the country's oil storage capacity from present 45 million tonnes to a million tonnes to meet the growing demand increasing at a rate of about 15 percent annually.

With the completion of these projects oil storage capacity would be increased to thirty days from present 17 days in almost each and every nook and corner of the country for meeting any eventuality, the spokesman concluded.