Summary At least 21 cargo ships will make the delivery
ISLAMABAD (Dunya News) – Pakistan State Oil (PSO) on Thursday has issued tender of furnace oil import weighing at least 12.35 lac tons in four months.
The state-run company has decided to import furnace oil for January-April period keeping in mind low water level in rivers during winters and price cut in international market.
At least 21 cargo ships will make the delivery each containing at least 65,000 ton. As per details, at least seven cargo ships will reach Karachi seaport in January and February, eight in March and four in April.
On the other hand, Pakistan is eyeing a deal with China that would cut its import bills by at least two-thirds. Earlier on November 5, Minister for Petroleum, Shahid Khawan Abbasi said that the authorities are in talks with China National Petroleum Corp.
He said that the country is interested in construction of a refinery with capacity of at least 10 million tons per year. However, he said that the capacity would shoot with the passage of time starting from three million tons in first phase.
Statistics show that Pakistan is spending at least USD 12-13 billion every year to import gasoline, crude oil, furnace oil, diesel and other petroleum products. Abbasi said that not less than 80 percent of Pakistan s gasoline is imported.
He talked about the dismal condition of indeginous refineries and said that the equipment are outdated and need to be upgraded.
The country has at least 25.5 percent shares in Pakistan Refinery Limited and is desirous of expanding the control with a purchase of another 26 percent in the ongoing year.
