‘New petroleum policy in a few months’

May 26,2019

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ISLAMABAD: Minister for Petroleum Omar Ayub Khan on Saturday said the PTI-led government would announce a new oil and gas exploration and production policy in a next few months.

He said they would also initiate auction of 40 new oil and gas blocks from December this year. This would generate good activity in oil and gas sector.

Ayub said the groundbreaking of Khalifa Point Refinery project would be performed by the end of this year. This $8 billion project was a joint venture of Pak Arab Refinery Company (PARCO) and the United Arab Emirates. The minister said the refinery would have the output capacity of 250,000 barrels/day.


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