SINGAPORE (October 09 2003): The refineries in Pakistan may start exporting fuel oil in the next two to five years as power plants switch from fuel oil to cheaper natural gas, a senior industry source said on Wednesday.
“If all the refiners pull together, they can export 30,000-40,000 tonnes of fuel oil per month in two years and about 100,000 tonnes per month in five years,” the source said.
Pakistan is a net fuel oil importer, taking in five million tonnes of fuel oil in the fiscal year to June to meet annual demand, which has been about 8.5 million tonnes per annum.
“Pakistan has not exported fuel oil since 1984 or 1985, but the market is changing,” he said.
At maximum capacity, Pakistan’s four refiners could produce as much as 250,000 tonnes per month of fuel oil, 100,000 tonnes of which could eventually be put up for export, the source said.
Pakistan’s refiners would likely offer 180-centistoke (cst) or 125-cst fuel oil, he said.
Rising natural gas supply and surging hydropower owing to heavy rains had already stalled Pakistan’s demand for fuel oil imports in August and September.
Industry sources also said on Friday Pakistan’s state utility cancelled a one-year term import tender for 660,000 tonnes of high-sulphur fuel oil owing to ample stocks.
http://www.brecorder.com/story.php?id=51181&currPageNo=1&query=&search=&term=&supDate=
Doesn’t say how much we are going to earn but it’ll be a great development if it happens. :k:
"If all the refiners pull together, they can export 30,000-40,000 tonnes of fuel oil per month in two years and about 100,000 tonnes per month in five years," the source said.
Excellent news. With the positive development and restructuring of the Pakistani economy that has happened in the last four years, I am sure that this will happen in the near future.