Pakistan’s fuel oil shipments have jumped more than five times as the country shifts away from the dirtier alternative to nuclear energy for power generation.
(Bloomberg) — Pakistan’s fuel oil shipments have jumped more than five times as the country shifts away from the dirtier alternative to nuclear energy for power generation.
The South Asian nation exported about 277,000 tons of surplus fuel oil in the financial year ended in June compared with 54,000 tons a year ago as its use declined, according to data by the Oil Companies Advisory Council.
Pakistan’s power generation from fuel oil has fallen 62% last year compared to the previous year, while the use of coal fell 22%, according to a report by local securities firm Arif Habib Ltd.
last month.
READ: Pakistan Ships Fuel Oil as Economic Crisis Hits Power Usage
Meanwhile, its use of nuclear energy grew 32% in the period, the report said. The country’s overall power generation also declined.
That’s left the country with a glut of the fuel, with refiners such as Pak Arab Refinery Ltd.
and Pakistan Refinery Ltd. rushing to export it, said Samiullah Tariq, head of research at Pakistan Kuwait Investment in Karachi.
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