Hyde
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New refinery, oil storage facility planned in 2010-11
ISLAMABAD (June 13 2010): The Trans-Asia Refinery has planned to set up an oil refinery at Port Qasim, Karachi, at an estimated cost of $450 million, to meet the domestic requirements of petroleum products. The Hascombe Pvt Limited has also expressed intention to establish an oil storage facility, of 6500 tons, at Shikarpur at an estimated cost of Rs 350 million.
According to Annual Plan 2010-11, Coastal Refinery Ltd (CRL) and Bosicor Oil Pakistan Limited (BOPL) intend to set up Single Buoy Mooring System Offshore Oil loading/unloading facility near Hub Coastal line, at an estimated cost of $30 million.
An allocation of Rs 2.6 billion has been indicated during 2010-11 for the fuel sector, excluding the non-budgetary corporations, in the 10th five-year plan 2010-15. During 2010-11, the crude oil production is planned to be 88726 barrels per day against estimated production of 65,500 barrel per day in on-going financial year.
Gas production is planned at 4065 MMCFD against the estimated production of 4000 MMCFD in 2009-10. Coal production target is 4.5 million tons, against the estimated production of 3.5 million tons in 2009-10. Development activities on the blocks already explored at Thar and being allocated to different companies by the government of Sindh will continue during 2010-11. The work on underground coal gasification project at block No 5 will also continue.
An allocation (revised) of Rs 859 million was made for fuel sector during 2009-10 excluding non-budgetary corporations programme. During 2009-10, crude oil production is estimated to be 65500 barrels per day (BPD) against the target of 70,000 BPD showing an achievement of 94 percent, while gas production is expected to be 4000 MMCFD against the target of 4100 MMCFD showing an achievement of 98 percent. Indigenous coal production is expected to be 3.5 million tons against the target of 4.5 million showing 68 percent achievement. A total of 75 wells are expected to be drilled against target of 100 wells.
The Petroleum Policy 2009 has been approved to accelerate the exploration and production activities by encouraging the foreign investment. In the new policy, the factor of the biddable gas price gradient having a weightage of 20 percent has been eliminated. Now the bids will be evaluated on the basis of work programme with related financial commitment on work units. The work on National Coal Policy is also underway.
The technical standards regarding oil transportation (pipelines) petroleum industry (retail outlets, depots for storage of petroleum products, road transport vehicles, containers and equipment used for the transportation of petroleum products) and oil refineries have been notified by Ogra. Ogra has issued four new tube oil blending/reclamation plant licenses.
there is a lot of useful information there in the first post
