Sir: I would like to draw your attention towards the recent rumours about the oil and gas resources found in coastal areas of Pakistan.
Oil and gas sector has been the key industry for the countries with most powerful economies and is a substantial element for their prosperity. Over the last six decades, nations which uncovered the nature’s hidden treasure have established their nations astonishingly and developed the once remote barren deserts to current day’s economic hubs and free ports of the world.
Many countries are producing oil and the oil prices are declining. Countries like Saudi Arabia whose economy solely relied upon oil and gas trade has suffered a great recession from the unpredicted market price.
Another reason of the drop is that countries around the world and major organizations are aiming to reduce the use oil and go for greener environment and use renewable resources.
At this point for Pakistan if enter in the oil market may not get much benefits and may lose middle east friends.