Petroleum products production grows 8.4% in 1HFY24

The production of petroleum products witnessed an increase of 8.4% YoY during the first six months of the fiscal year 2024, data issued by the Pakistan Bureau of Statistics (PBS) showed.

Petroleum and oil lubricants (POL) products that showed positive growth were Kerosene oil, Motor spirits, High speed diesel, Diesel oil n.o.s., Furnace oil, Solvant Naptha, and LPG.

These products saw a surge in production by 5.63%, 7.17%, 12.83%, 33.94%, 18.92%, 17.97%, and 5.23% YoY, respectively, during the reviewed period.

On the flip side, negative growth was observed in the production of Jet fuel oil, Lubricating oil, Jute batching oil, and Petroleum prods: n.o.s., demonstrating declines of 11.58%, 36.34%, 41.74%, 13.68% YoY, respectively.

On a monthly basis, the production of petroleum products witnessed an increase of 4.12% MoM in December.