Breaking! Large oil, gas reserves found near Karachi: PM

[Kambojaric]

Thats a huge statement to make. There must be solid evidence this time around if he is talking about it so confidently.

 

[Sabretooth]

Asia’s largest oil and gas reserves have been found in Karachi’s offshore waters, Prime Minister Imran Khan announced on Monday.

Asia's largest oil? That is a pretty huge claim because Russia, Saudi Arabia & Iran also lies in the continent of Asia.

 

[50cent]

I hope the reserves are at least more than 50 Billion barrels

Kuwait has more than 98 billion barrels

 

[Mentee]

 

[Max]

Asia? It means more then Saudis? Lol

 

[Yaseen1]

Good to see this I think this statement may be exaggerated claim to improve investor confidence and to attract foreign investment .If u.s confirm this claim then it will be very good for us

 

[ziaulislam]

Asia's largest oil, gas reserves found near Karachi: PM
By Rizwan Ghilzai
Published: March 25, 2019

Imran Khan addressing parliament in February 2019. PHOTO: INSTAGRAM/@imrankhan.pti

Asia’s largest oil and gas reserves have been found in Karachi’s offshore waters, Prime Minister Imran Khan announced on Monday.

In a talk with journalists, the premier urged the nation to pray for the success of the exploration efforts and said the development could bring about a massive change in Pakistan’s fortunes.

PM Imran further told the journalists that it was possible that India could sponsor a terrorist attack in Pakistan before the start of its general elections next month. “We cannot let our guard down. We have to remain alert,” said the premier.

Speaking on other regional matters, Imran confirmed that the Afghan Taliban wanted to hold a meeting with him in Islamabad. “The government of Afghanistan was opposed to the meeting which is why decided against it.”

Tribune with their fake news as usual
He siad he was "expecting" positive news in 3 weeks..

He never said the above

If this does happen to be a find coupled with important news of removing 30% duties on equipment ..expect a surge in investment in the blocks surrounding it(yet to be auctioned )

 

[Whirling_dervesh]

Misleading title says 'found', when u open the link it says 'maybe'

More shoddy journalism

 

[Maxpane]

is it true??????

 

[PakSword]

Still not confirmed although the chances are high this time.

And some people are saying the oil is only sufficient for the five years from the time extraction is started.

Anyway, anything is more than nothing. Even 5 years means at least 50 billion dollars of savings in foreign exchange, which is huge considering the current balance of payment crisis

 

[ejaz007]

Asad Umar can fulfill his promise of Petrol Rs. 46/Liter.

 

[Norwegian]

Tribune with their fake news as usual
He siad he was "expecting" positive news in 3 weeks..

As per sources reserves are found but how good they are economically is yet to be determined.
https://www.express.pk/story/1605911/1/

 

[Sabretooth]

As per sources reserves are found but how good they are economically is yet to be determined.
https://www.express.pk/story/1605911/1/

Yup! the key question is the economic viability of found fossil fuels.

 

[Mangus Ortus Novem]

@Indus Pakistan , my friend, looks like Pak State is going to become 'oily arab' too!

@Khafee I guess, if true, Pak can become OPEC memeber??? What says you?

This would validate my thesis that Pak is strategic stakeholder in ME.

 

[Zulfiqar]

Still not confirmed although the chances are high this time.

And some people are saying the oil is only sufficient for the five years from the time extraction is started.

Anyway, anything is more than nothing. Even 5 years means at least 50 billion dollars of savings in foreign exchange, which is huge considering the current balance of payment crisis

I think the above is most probable scenario.

The deposits if any will cover only a few years of crude oil import requirement.

The best option would be to sell the oil at market price and retaining the profits for further investment in other capex heavy industries via sovereign wealth fund.

Another option could be to invest the profits into a fund that collabs on defence/computer hardware manufacturing sector in order to exponentially increase investment in sub-components manufacturing sector similar to what Israel is doing.

Third option could be to offer the oil (refined from the extracted oil) for the next 5 years at discounted price to industrial sector/aviation sector in order to revamp them to become market competitive again and to boost exports.