The oil and gas sector in Pakistan is one of the most important industries in the country. Pakistan is the 27th largest producer of oil and gas. The country is also a major transit route for oil and gas from Central Asia. Pakistan’s oil and gas sector is regulated by the Ministry of Petroleum and Natural Resources. The sector is dominated by the state-owned Pakistan Petroleum Limited (PPL) and Oil and Gas Development Company (OGDCL). There are also a number of private-sector companies active in the sector. Pakistan’s oil reserves are estimated at 5.8 billion barrels, while its gas reserves are estimated at 207 trillion cubic feet. Pakistan’s oil and gas sector is a major contributor to the country’s economy, accounting for about 5% of GDP.
The oil and gas sector is the backbone of the Pakistani economy and contributes significantly to the country’s GDP. The sector provides employment to a large number of people and is a major source of foreign exchange earnings. Pakistan is a major producer and exporter of crude oil and natural gas. The country has the sixth-largest reserves of crude oil and the seventh-largest reserves of natural gas in the world. Pakistan is also a major transit point for oil and gas supplies from Central Asia to the South Asian markets.
The oil and gas sector is regulated by the Pakistani government through a number of agencies, including the Oil and Gas Regulatory Authority (OGRA) and the Pakistan Petroleum Regulatory Authority (PPR). The sector is dominated by a few large companies, such as the Pakistan State Oil Company (PSO), and the Pakistan National Petroleum Company (PNPC). These companies are involved in the exploration, production, refining, and marketing of oil and gas products. The government is the largest shareholder in the oil and gas sector, with a majority stake in PSO and PNPC. However, the privatization of these companies is underway and the government’s stake is expected to reduce over time.
Other major companies in the sector include the Pakistan Petroleum Limited, Oil and Gas Development Company, Pakistan Oilfields Limited, and Pakistan LNG Limited. The country’s oil production is around 350,000 barrels per day. The majority of Pakistan’s oil reserves are located in the Sindh province. The country’s natural gas production is around 4 billion cubic feet per day. The majority of Pakistan’s natural gas reserves are located in the provinces of Sindh and Punjab. Pakistan’s oil and gas sector is a major contributor to the country’s economy. The oil and gas sector is also a major contributor to the country’s foreign exchange reserves.
The petroleum sector is the largest sector in Pakistan’s economy, accounting for about 30% of the GDP and 70% of export earnings. The country’s oil and gas sector is of strategic importance to the global economy.