Pakistan makes sure oil output stays high despite turmoil

(MENAFN) In spite of the sharp decline in crude price, which has shaken strong economies, Pakistan's oil refineries are indeed enjoying healthy margins, according to the latest data.

Basically, the Islamic Republic's refineries process crude to make consumer-end petroleum products like petrol and furnace oil, which have not seen on bit of deterioration in demand.

In more detail, over the years, crude oil production in Pakistan has climbed due to discoveries in Khyber Pakhtunkhwa to near 100,000 barrels per day from the historical average of 65,000 bpd.

"Demand was growing in double digits when petrol was priced at over hundred rupees a liter, and its consumption remains to grow at a rate of 11 to 12 percent a year," said a top official.