ISLAMABAD: Pakistan witnessed a remarkable increase in petroleum product exports during the first 10 months of the current fiscal year (10MFY25), marking a surge of 118.7% to \$492.04 million, up from \$224.97 million in the same period last year, according to the Pakistan Bureau of Statistics (PBS).
Crude oil imports climbed 14.9% to 8.489 million tonnes compared to 7.388 million tonnes in the corresponding period of the previous fiscal year. This uptick in crude imports enabled local refineries to enhance output and significantly increase petroleum product exports.
Preliminary estimates suggest that the increased domestic production and exports of refined petroleum products could positively contribute to economic growth in FY25. The output of all 11 key petroleum products was up 4.48%, with high-speed diesel rising 9.32% and furnace oil seeing a 2.73% revival in production.
Interestingly, while the value of overall petroleum imports dropped 6.29%, the volume rose by 7.12% to 8.78 million tonnes, indicating more cost-effective import practices. Meanwhile, LNG imports declined 10.31%, whereas LPG imports jumped 34.71%, highlighting shifts in fuel demand and supply strategies.
In a notable development, petroleum crude exports reached 40,552 tonnes during 10MFY25—compared to zero in the same period last year. Exports of petroleum products excluding top naphtha grew by 103%, totaling 888,737 tonnes, while top naphtha exports rose 105% to 82,266 tonnes year-on-year.
This surge in exports and refinery activity not only reflects increased domestic economic activity, particularly in transport and agriculture, but also points to improved capacity utilization and profitability of local refineries.
Story by Mubarak Zeb Khan
