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Minister for Petroleum: The Petroleum price is lowest in Pakistan as compared to other countries.

The price of Petroleum is cheapest in Pakistan as compared to other countries.

The Minister of Petroleum and Natural Resources, Shahid Khaqan Abbasi talking to the media after the inauguration of Pakistan oil and Gas (POGEE). According to the Shahid, he said that the petroleum price is cheapest than the other oil importing countries in the world. He also added that the load shedding eliminated in next summers.

He also talks to the journalists, he added that the country’s demands 800,000 barrels and the other side the production of petroleum of local production is only 100,000 barrels.

The Minister of Petroleum and Natural Resources Shahid Khaqan Abbasi stated that,

Pakistan is selling petroleum at the lowest price as compared to other importing countries. It is expected that the petroleum price will remain between 40 to 60 dollar per barrel.

He further added that the power plants of 10,000 MW is under construction. The 7000 MW will be generated by coal and 3000 MW will be generated by LNG. Pakistan will produce electricity via furnace oil. But it is an expensive fuel. The Liquefied Natural Gas (LNG) is the cheapest and efficient energy. The LNG providing gas from 2 years in the country. He said the next LNG terminal will provide within next 4 months.

Shahid Khaqan said that,

The government is constructing 3 power plants based on LNG, with an efficiency rate of 65 percent. Within 5 years Pakistan will be importing the 30 million tonnes of LNG. Foreign Direct Investment (FDI) will be welcome in the LNG sector.

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