Pakistan’s Oil Imports Show Marginal Growth, Petroleum Exports Nearly Double
Key Points:
- Oil Imports: Pakistan’s oil import bill increased slightly by 1.2% to $10.71 billion in the first eight months of FY25, compared to $10.58 billion in the same period last year, according to Pakistan Bureau of Statistics (PBS) data.
- Petroleum Exports: Exports of petroleum products surged by 96% to $358.15 million in 8MFY25, up from $183.33 million in the previous year.
- Crude Oil Imports: The country’s crude oil imports grew by 6.51% in volume, with petroleum crude imports specifically increasing by 20.29% to 6.58 million tonnes from 5.47 million tonnes last year.
- Refinery Output & Production: Increased crude oil imports led to higher production at local refineries, with overall petroleum product output rising 2.47% year-on-year.
- Fuel-Specific Trends:
- High-speed diesel production grew 6.21%, driven by demand in the transport and agriculture sectors.
- Furnace oil production increased 19.74% in January.
- Liquefied natural gas (LNG) imports fell 6.11%, while liquefied petroleum gas (LPG) imports jumped 45.49%.
- Surge in Petroleum Exports:
- Petroleum crude exports reached 40,552 tonnes in 8MFY25, compared to none in the previous year.
- Exports of petroleum products (excluding top naphtha) rose 72.34% to 651,662 tonnes.
- Top naphtha exports surged 113.77% to 44,571 tonnes.
Pakistan’s oil sector dynamics indicate a shift towards increased local refining and exports. The rise in crude oil imports has fueled domestic production, enhancing refinery profitability and supporting economic growth. Meanwhile, the significant increase in petroleum exports suggests a growing role for Pakistan’s refining industry in international markets. However, fluctuating global oil prices and economic conditions will continue to influence these trends.
