Pakistan's massive oil reserves discovery

This is a Pakistan news story, published by OilPrice, that relates primarily to Musadik Malik news.

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Pakistan's massive oil and gas reserves could change the country's economic trajectory

Summary

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76% Informative

Pakistan has 235 trillion cubic feet (tcf) of gas reserves, Pakistan 's energy import bill in 2023 clocked in at $17.5 billion , a figure projected to rise to $31 billion in seven years .

Pakistan has been hit with mounting debt and skyrocketing inflation, with inflation hitting nearly 30% .

Some estimates suggest that this discovery constitutes the fourth -largest oil and gas reserves in the world.

In July , the country’s Petroleum Minister, Musadik Malik , told a parliamentary committee that no international companies were interested in offshore oil and gas exploration in Pakistan .

Malik explained to the committee that the cost of security is a major deal-breaker.

In March this year , five Chinese engineers were killed in a suicide attack in Pakistan 's northest, when a vehicle rigged with explosives rammed into a bus transporting staff from Islamabad to the giant Dasu dam project.

VR Score

Informative language

Neutral language

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formal

Language

English

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Offensive language

not offensive

Hate speech

not hateful