ISLAMABAD: Pakistan is moving towards achieving self-sufficiency in the energy sector as a number of projects are underway to meet its growing energy needs, former Secretary of Ministry of Petroleum and Natural Resources Dr Gulfaraz Ahmed said on Monday.
Talking to a news channel, he said the Byco Petroleum Company had set up the country’s largest oil refinery complex in Hub area of Balochistan with the capacity of refining 120,000 barrels crude oil per day. “The facility will increase energy security and reduce dependency on others,” he added.
He said the country’s oil refining capacity had dropped from the 50 per cent mark, which was not considered a good sign for national economy.
The Byco refinery, he said, would fulfil around 39 per cent of the country’s energy needs and considerably bring down the oil import bill. Besides, it would generate employment opportunities for people of Balochistan, he added.
Dr Gulfaraz underlined the need for accelerating oil and gas exploration activities especially in potential areas of Balochistan and Khyber Pakhtunkhwa to meet growing energy needs within the country.
