Pakistan's gas reserves will last 20 more years

The total balance recoverable from the country's gas reserves is 28.9 tcf, which will last for 20 more years if used at the current rate of 4 bn cf production per day, the National Assembly was informed.
During the question hour, Minister for Petroleum and Natural Resources Syed Naveed Qamar told the Lower House that the country had so far imported petroleum products worth $ 2.931 bn from different countries in the current fiscal year. The countries include Kuwait, UAE, Saudi Arabia, Singapore, Malaysia, India, Bahrain, Oman and the Netherlands. He said the indigenous crude oil production, which stands at 66,800 bpd, meets only about 15 % of the total demand of petroleum products in the country.

To another question, the minister gave details of the profits of oil marketing companies and refineries.
"The Pakistan State Oil (PSO) earned eared Rs 1.9 bn in profits from July to September in 2009. Shell earned Rs 1.3 bn from April to September, Chevron Rs 919 mm from June to November, the Attock Petroleum Limited (APL) Rs 1.5 bn and Admore Rs 141 mm," he said.

"The Pak Arab Refinery Limited (PARCO) earned Rs 1.57 bn in profits, the Attock Refinery Limited (ARL) Rs 810 mm and National Refinery Limited (NRL) Rs 391 mm from June to November 2009. Basicor earned a profit of Rs 1.06 bn and PRL Rs 672 mm from July to September in 2009," he added.
He said the year wise turnover of these companies showed that PSO earned Rs 719 bn in 2008-09, Rs 583 bn in 2007-08 and Rs 411 bn in 2006-07.

"Shell Pakistan Limited's turnover stood at Rs 132 bn during 2008-09, Rs 137 bn during 2007-08 and Rs 108 bn in 2006-07. Chevron's turnover was Rs 63.5 bn in 2008-09, Rs 69.2 bn in 2007-08 and Rs 51.7 bn in 2006-07. APL had a turnover of Rs 70.7 bn in 2008-09, Rs 60.13 bn in 2007-08 and Rs 49.9 bn in 2006-07," he told the House.
He said that details of annual turnovers of refineries showed that PARCO's turnover was Rs 172 bn in 2008-9, Rs 196.95 bn in 2007-08 and Rs 123.58 bn in 2007-08.