Petroleum production up 9.08% in 11 months

ISLAMABAD: Production of petroleum products increased by 9.08 percent during the first eleven months of the fiscal year 2013-14 compared to the corresponding period of last year. On year-on-year basis, the production surged by 19.97 percent in May  2014 compared to the production of May 2013, according to the data of Pakistan Bureau of Statistics (PBS).
The products that contributed in the positive growth of petroleum production included jet fuel oil, output of which increased by 7.09 percent. Similarly, the production of motor spirits increased by 6.45 percent whereas the production of high speed diesel increased by 12.39 percent during the period under review.
The production of diesel oil and furnace oil also increased by 53.05 percent and 10.21 percent respectively whereas the output of lubricating oil witnessed positive growth of 1.35 percent and the output of solvant naptha increased by 10.86 percent.
The industrial items that witnessed negative growth in production included kerosene oil, output of which decreased by 3.79 percent and jute batching oil, production of which decreased by 17.47 percent.
Meanwhile, on year-on-year basis, the production of jet fuel increased by 11.88 percent in May 2014 compared to May 2013 whereas the output of motor spirits increased by 13.70 percent. According to the data, the production of kerosene oil in May 2014 increased by 14.31 percent, high speed diesel by 25.08 percent, diesel oil by 9.53 percent, furnace oil by 19.40 percent, lubricating oil by 1.96 percent, solvant naptha by 28.98 percent and LPG by 8.45 percent. The only industrial product that witnessed negative growth was included batching oil, output of which decreased by 40.69 percent.
It is pertinent to mention that the country’s Large-Scale Manufacturing (LSM) output grew by 4.15 percent during the first eleven months of fiscal year 2013-14 compared to the corresponding period of last year. On year-on-year basis, the LSM grew by 2.35 percent in May 2014 compared to May 2013. However, on month-on-month basis, the LSM witnessed negative growth of 3.8 percent in May when compared to the growth of 123.17 points in April 2014. 

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