LNG and oil imports decreased by 11% YoY in Dec 18

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Natural Gas (LNG) and oil imports declined by 11% year-on-year (YoY) basis.

In December 2018, LNG and oil imports has seen a decline of 11% YoY (-17% MoM) to 1,849 tonnes compared to 2,085 tonnes in December 2017. According to the sources, the imports of crude oil and High Speed Diesel (HSD) are decreased by 13% and 50% YoY. In addition, the Mogas imports and LNG imports are increased by 21% and 33% respectively.

In the first half of financial year 2018-19 (July – December), imports are decreased by 17% YoY. However, during December, the exports are increased by 61% YoY to 82k tonnes. In addition, they decreased by 2% YoY in the first half of FY18-19. Furnace oil imports in December were also observed at nill.

As indicated by financial analysts, it is because of a decrease in their run rates, imports of unrefined petroleum have declined and to take care of neighborhood demand, gas imports have expanded.

PM Imran Khan on December 26th had coordinated a prompt burden of a prohibition on further import of heater oil.

While directing a gathering of the Cabinet Committee on Energy or CCoE, the issue of creation and capacity of heater oil by the local refineries was taken up.

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