Islamabad June 19 2022: Refineries throughout witnessed a decrease of 5.1 percent during the month of April 2022 as compared to the corresponding month of last year (April 2021), OCAC reported.
However, production of high margin products High Speed Diesel and Jet Fuel Oil increased during the month of April 2022.
Production of High Speed Diesel inclined by 7.2 percent in April 2022 with production of 3.1 million barrels when compared to production of 2.9 million barrels in the same month last year. Likewise, the production of Jet fuel increased by 44 percent in the month of April 2022 when compared to April 2021.
In the Middle East, refiners currently receive roughly an average of more than $165 per barrel from the sale of gasoline and diesel at wholesale prices, while paying only around $120 to purchase crude.
According to IATA, aviation companies are purchasing Jet Fuel on an average of more than $171 per barrel from the refineries in the Asia and Oceania region.
The petroleum products that contributed in negative growth in production included Motor Spirit, Furnace oil and Kerosene oil.
Likewise, the production of Motor Spirit decreased by 16.9 percent, Kerosene oil by 71.5 percent, diesel oil by 78.0 percent, furnace oil by 10.4 percent, Solvent Naptha by 43.0 percent, and LPG by 0.9 percent.
However, the overall throughput of Refineries during July-April (2021-22) witnessed an increase of 1.1 percent as compared to the corresponding period of fiscal year (2020-21).
During this period, the production of jet fuel went up by 27.4 percent, kerosene oil by 7.4 percent, High Speed diesel by 0.7 percent, lubricating oil by 11.7 percent, jute batching oil by 5.1 percent, solvent Naptha by 5.4 percent and LPG by 3.3 percent.
The variants that witnessed negative growth in production during July-March (2021-22) included, Motor Spirit, output of which declined by 1.2 percent while the output of Furnace oil declined by 7.8 percent.