Pakistan to Export Furnace Oil – Research Snipers

Pakistan to Export Furnace Oil

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As a known refinery’s ship loaded with fuel left the Karachi Port, it is reported that Pakistan has achieved the status of furnace oil exporter. For a limited time period of two months, the government bailed out the obsolete refineries. It allowed the resumption of production of power from the oil-utilized plants to allow the refineries to overcome the furnace oil supply problem.

A Petroleum Division official said, “After February 28, the government will not take any responsibility for furnace oil and companies (refineries) will deal with it by themselves.”

The official added, “Byco refinery has planned to export around 25,000 tons of furnace oil.”

At the Karachi Port Trust (KPT) an official said, “oil tanker Roy Maersk is currently being loaded with furnace oil.” At berth Op-2, the ship was anchored. It was scheduled to leave the Karachi Port at 5:30 am on Tuesday. “It was Byco’s cargo.”

Must read: Govt Might Remove the Ban on Furnace Oil Import in Pakistan

However, Byco has neither confirmed nor denied this development. As of yet, it is not known as to which country is labeled as the export destination of the Pakistani cargo. But it is reported that it will be an oil-rich Middle Eastern country. Also, the refinery was exporting the cargo via a Dutch-based international oil trading firm that had a major stake in the local oil marketing company and operated storage in the country.

He said, “OMCs procure furnace oil from the refineries as per the demand of power producers.”

The official said, “The production of around 2,000 megawatts of electricity from furnace oil will address the issue of excessive oil supplies at the refineries. The pricing, however, may remain an issue, going forward.”

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