Daily Times

Pakistan’s oil imports rose slightly to $10.71 billion in the first eight months of FY2024-25, driven by higher crude intake. According to the Pakistan Bureau of Statistics (PBS), crude oil imports increased by 20.29% in volume, while their value grew by 6.51%. However, petroleum product imports declined by 3.87% in value despite a 9.49% rise in quantity.

The increase in crude imports boosted local refinery production, leading to a 2.47% rise in petroleum output. High-speed diesel production grew by 6.21%, while furnace oil output surged by 19.74% in January. Despite this, total petroleum production saw a slight decline of 0.76%.

Refinery expansion contributed to a sharp 96% increase in petroleum exports, reaching $358.15 million. Crude oil exports hit 40,552 tonnes, up from zero last year. Petroleum product exports (excluding top naphtha) rose by 72.34%, while top naphtha exports surged by 113.77%.

The trends indicate a shift toward higher domestic refining and export activity, reducing reliance on finished product imports. However, LNG imports fell by 6.11%, while LPG imports surged by 45.49%, highlighting changing energy consumption patterns.