A private sector petroleum company Trans-Asia is going to set up a refinery having capacity to develop 100,000 barrels oil per day (bpd) followed by the Byco that had established the country’s largest production unit in Balochistan in second week of the current month.
Setting up of back-to-back oil refineries speak about the present government’s seriousness towards resolving the energy crisis and achieving self-sufficiency in this sector, official sources in the ministry of petroleum and natural resources said.
Local as well as foreign investors, they said, were reposing confidence in prudent and business-friendly economic policies introduced by the government and making huge investments in the energy sector.
“A company Trans-Asia will set up a refinery having capacity to develop 100,000 barrels oil per day in Pakistan, for which it has imported all the required machinery and equipment. The company will itself announce the launching date after completing all the required formalities,” they added.
Good
Another junk refinery from Italy to be assembled in Pakistan costing $600 million.
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