Pakistan Oil Reserves, Production and Consumption Statistics (2024)

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Pakistan Oil Reserves, Production and Consumption Statistics? ›

Consumption fell to 16.61 million mt in 2022/23 (July-June) from 22.6 million mt in the previous year, showed data collected from oil companies and Oil Companies Advisory Council.

Consumption fell to 16.61 million mt in 2022/23 (July-June) from 22.6 million mt in the previous year, showed data collected from oil companies and Oil Companies Advisory Council.

In 2019, the country produced 4.3 million metric tons of crude oil, enough to meet only 20 percent of the country's total petroleum requirements.

Using historical data, the authors have very lucidly demonstrated that Pakistan was self-reliant in edible oil at the time of independence in 1947. Due to growing demand and stagnant production, the country started relying on imports to meet domestic demand.

Gasoline consumption, thousand barrels per day

The average value for Pakistan during that period was 56.26 thousand barrels per day with a minimum of 12.54 thousand barrels per day in 1980 and a maximum of 199.44 thousand barrels per day in 2021. The latest value from 2021 is 199.44 thousand barrels per day.

According to the United States Energy Information Administration (EIA), Pakistan may have over 9 billion barrels (1.4×10⁹ cubic metres) of petroleum oil and 105 trillion cubic feet (3.0 trillion cubic metres) in natural gas (including shale gas) reserves.

In crude petroleum products, Pakistan imports 56% from the UAE, 34% from Saudi Arabia. Both countries account for a major share (90%) of Pakistan's imports of crude petroleum.

Pakistan imported 154,000 barrels per day of oil in 2022, relatively flat from the previous year, data from analytics firm Kpler showed. Most of the crude was supplied by the world's top exporter Saudi Arabia followed by the United Arab Emirates.

KARACHI: Pakistan's oil and gas reserves have depleted by 17% and 6%, respectively, in the past one year till June 2023 as no major hydrocarbon discovery has been made since long.

Does Pakistan have oil underground? ›

The Toot area is one of the oldest oil producing regions in Pakistan with the first oilwell drilled in 1964 when President Ayub Khan encouraged a mineral development policy. It is located in the Khaur, Punjab Province, which is located approximately 135 km southwest of the capital city of Islamabad.

Pakistan Inflation

Poor governance and low productivity per capita in comparison with other low to middle-income developing countries have contributed to a balance of payment crisis, where the country is unable to earn enough foreign exchange to fund the imports that it consumes.

(Historically, Pakistan has imported much of its oil from Saudi Arabia and the United Arab Emirates.)

Pakistan will receive 10 shipments of edible oil from Indonesia and Malaysia in the next two weeks, revealed a tweet from the Prime Minister's Office on Tuesday. “A total of 2.5 million metric tons of edible oil will be supplied from Indonesia to Pakistan,” it said.

The report estimates Pakistan's technically recoverable shale oil reserves at 9 billion barrels. Compare this to our current proved oil reserves of approximately 300 million barrels and the extent of the good news — a 30-fold increase in reserves — becomes clear. But it may be a little too early to celebrate.

The U.S. is currently both the largest producer and the largest consumer of crude oil in the world, with highly populated countries like China and India following close behind. If you would like to learn more about oil consumption by country, please refer to the data in the map and charts.

In 2021, the top partner countries from which Pakistan Imports Fuels include United Arab Emirates, Qatar, Saudi Arabia, Kuwait and South Africa.