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Foreign direct investment in oil and gas sector reduces


Atta Ur Rehman KhanWeb Editor & Columnist

10th Dec, 2019. 10:03 pm
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Oil

Direct investment in the oil and gas sector has declined during the current fiscal year.

According to the details, the data is released by the Investment Board and State Bank, the volume of direct foreign investment in the oil and gas sector in the first 4 months of this fiscal year was recorded at $ 40.8 million.

Foreign direct investment volume in the oil and gas sector was recorded at $ 120.4 million in the same period of the last financial year.

The volume of Foreign Direct Investment (FDI) in this sector is recorded at $ 6.7 million in October 2019.

On the other hand, $ 1 million of foreign direct investment in the petroleum refining and petrochemical sector is observed in the first 4 months of the financial year.

Be aware that the oil and gas sector is one of those sectors where foreign investment rates are high.

Foreign direct investment of $ 303.3 million was recorded in this sector during year 2018-19.

In the fiscal year 2017-18 and fiscal year 2016-17, the oil and gas sector had direct foreign investment of $ 372 million and $ 146 million, respectively.

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