Pakistan has started operations at a crude oil refining complex at Balochistan’s Hub region to boost fuel and energy supplies in the country.
Developed by Byco Group, the facility, which is claimed to be the largest in the country, can produce 1.6 million tons of fuel oil, 2.4 million tons of diesel, 1.1 million tons of LPG per year.
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The project involved an investment of $750m, and is expected to offer the advantages of sustainable productivity and increased profitability to the oil and gas sector in the country.
The facility has a crude oil refining capacity of 120,000 barrels per day, which can bring down Pakistan’s fuel import.
It has a capacity to meet 39% of the country’s energy demands, Pakistan Prime Minister’s Office stated.
Byco Industries had completed the facility development in six years and expects the project to rise up to a substantial position in the hydrocarbon value addition chain.
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By GlobalDataAccording to the Pakistan Prime Minister Muhammad Nawaz Sharif, Byco Group will be setting up another oil refinery in the country which will offer employment opportunities and help Pakistan to achieve self sufficiency in crude oil refining.
About 22 million tons of oil is required by the country which lacks facility for refining crude oil.
The country intends to increase its energy resources and overcome the crisis of gas shortage as well, Nawaz Sharif said.
