Import of crude oil increases by 3% in Pakistan

Karachi: During the first six months of the current financial year, crude oil imports recorded an increase of three percent on annual basis.

According to Oil Companies Advisory Council (OCAC) and Oil and Gas Regulatory Authority (OGRA) data, crude oil imports were recorded at 4,279,000 tons in the first six months of the current financial year, which is 3% higher than the same period of the previous financial year.

The  data showed that the volume of crude oil import was recorded at 4,169,000 tons in the same period of last financial year.

Crude oil imports were recorded at 7,757,000 tons in December 2023, which is 16% lower than December 2022, when crude oil imports were recorded at 901,000 tons.

The import of crude oil fell by 14% on month-on-month basis in December compared to November.

According to the report, the import of crude oil was recorded at 885,000 tons in November, which decreased to 757,000 tons in December.

It is important to mention that in the first six months of the financial year, the overall import of petroleum products recorded an 8% decrease on annual basis.