Crude oil production rises in nine months

ISLAMABAD - Pakistan's domestic crude oil production stood at 24.2 million barrels (mbl) in first three quarters of the current fiscal year as compared to 24 mbl during the corresponding period last year. "Indigenous resources of oil are not enough to quench energy thirst of a growing economy, so the country imported 5.9 million tones crude oil to meet its domestic needs from July 2016 to March 2017," official sources told APP. They said the government was making all-out efforts to accelerate oil and gas exploration activities in different potential areas of the country, for which it would spend Rs 554.291 million in the next fiscal year.

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