Pakistan’s petroleum product sales and daily oil and gas production recorded a 2% increase during the first four months of the current fiscal year, with POL sales reaching 5.18 million tons from July to October. Data from Petroleum Information Services indicated that the average daily crude oil production for the week ending October 31 stood at 65,582 barrels, up from 64,467 barrels the previous week. Daily gas production also rose, averaging 2,737 MMCFD, an increase from 2,694 MMCFD.
Additionally, the State Bank reported a 16.23% increase in exports to Western Europe, generating $1.165 billion in the first quarter, while imports from these nations dropped by 40.67% to $496.34 million. However, the Cotton Ginners Association highlighted a 37% decline in cotton arrivals, with 4.29 million bales by October 31 compared to 6.79 million bales during the same period last year.
