Production of crude oil in Pakistan is just 68 thousand barrels per day which
meets just the 15% of the demand in the country . Total demand of oil is 453
thousand barrels per day while about 375 thousand barrels is imported which
exerts very high pressure on foreign reserves and rupee dollar parity. On the other hand
gas production is about four billion cubic feet per day which is also less to meet current
demand of six billion cubic feet.
Govt has recently announced new petroleum policy to encourage oil and exploration and
production in the country which was welcomed by the exploration companies.