Production of petroleum products rises 18.05% in 2020/21
ISLAMABAD: The overall production of petroleum products has witnessed an increase of 18.05 per cent during the fiscal year 2020/21, compared with the corresponding period of the last year, the Pakistan Bureau of Statistics (PBS) reported.
The POL products that showed positive growth included kerosene, the production of which increased 9.12 per cent during the period under review.
Similarly, the production of motor spirit, high-speed diesel, furnace oil, jute batching oil, liquefied petroleum gas (LPG) and petroleum NOS witnessed increase of 27.61 per cent, 23.92 per cent, 14.65 per cent, 11.13 per cent, 11.13 per cent and 15.08 per cent, respectively.
However, the production of jet fuel oil has decreased 16.19 per cent and solvent naphtha 4.20 per cent during the fiscal year 2020/21.
On a year-on-year basis, petroleum production witnessed an increase of 38.93 per cent during June 2021, compared with the output of June 2020.
During the month under review, the production of jet fuel oil increased 74.82 per cent; motor spirit, 30.37 per cent; high-speed diesel, 50.30 per cent; diesel oil NOS, 425.45 per cent; furnace oil, 39.20 per cent; lubricating oil, 63.11 per cent; solvent naphtha, 12.42 per cent; LPG, 22.74 per cent; and petroleum products NOS, 8.74 per cent.
The production of kerosene dipped 5.86 per cent; and jute batching oil, 9.15 per cent.
The overall production of the Large Scale Manufacturing Industries (LSMI) in the country during the fiscal year 2020/21 witnessed a growth of 14.85 per cent, compared with the output of the corresponding period of the last year.
The LSMI Quantum Index Number (QIM) was recorded at 148.71 points during July-June 2020/21 against 129.49 points during July-June 2019/20, showing a growth of 14.85 per cent, according to the Pakistan Bureau of Statistics data.
The highest increase of 18.05 per cent was witnessed in the indices monitored by the Oil Companies Advisory Committee (OCAC); followed by 17.13 per cent monitored by the Ministry of Industries and an increase of 9.15 per cent was witnessed in the indices monitored by the Provincial Board of Statistics.
Saudi Arabia remains China’s top oil supplier as arrivals surge
RIYADH: Saudi Arabia, the world's biggest oil exporter, kept its ranking as...
Minister briefs US-UAE Business Council on new investment incentives
ABU DHABI: Abdullah bin Touq Al Marri, Cabinet member and minister of...
Emirates Development Bank launches business banking app for SMEs
DUBAI: The Emirates Development Bank (EDB) has announced that it is launching...
Amazon to create 1,500 new jobs in UAE
DUBAI: Amazon will create 1,500 direct and indirect jobs across the UAE...
PM revives country’s sinking economy: official
ISLAMABAD: Prime Minister Imran Khan has not only revived the country’s sinking...