No Diesel Imports in July as Local Refineries Produce Over 500,000 Tonnes

As local refineries produced enough fuel to meet domestic demand while high import premiums discouraged purchases from the Middle East, pakistan did not import high-speed diesel (HSD) in July, the first month of the current financial year.

Key points

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• As reports indicate, local refineries produced more than 500, 000 tonnes of HSD during July, enough to meet domestic requirements.
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• Pakistan imported 1.35 million tonnes of HSD during the previous financial year, with imports continuing throughout the year.
• Nevertheless, oil sector sources stated a Pakistan State Oil vessel carrying imported HSD is projected to berth over the next few days.

Pakistan imported 1.35 million tonnes of HSD during the previous financial year, with imports continuing throughout the year. While crude oil imports stood at 890, 000 tonnes, nevertheless, oil sector data demonstrated no HSD imports in July.

As reports indicate, local refineries produced more than 500, 000 tonnes of HSD during July, enough to meet domestic requirements. A senior refinery executive remarked there was no need for imports as local refineries were able to produce the required quantity of diesel. PTA, FIA Raid Illegal Internet Service Provider in Lahore.

High import premiums additionally discouraged purchases, particularly as HSD is mainly sourced from the Middle East. Kuwait Petroleum Corporation is the main supplier to Pakistan State Oil under a long term agreement.

HSD sales, which were relatively low in June, rose sharply in July. Sales rose 19 percent year over year and 25 percent month over month during the month, with the extra demand met through local refinery production.

Nevertheless, oil sector sources stated a Pakistan State Oil vessel carrying imported HSD is projected to berth over the next few days. Pakistan additionally imported 345, 361 tonnes of petrol in July, all of which was 92 RON petrol, with no 95 RON or 97 RON imports recorded.

Meanwhile, furnace oil exports remained subdued during the first month of the financial year. Pakistan exported 29, 853 tonnes of high sulfur furnace oil, 8, 354 tonnes of medium sulfur furnace oil and 26, 411 tonnes of low sulfur furnace oil during July. Stay Connected with ProPakistani.

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Taken together, the developments around no Diesel Imports in July as Local Refineries Produce Over 500, 000 Tonnes point to a situation that is still moving, and the coming days should bring more clarity.