Target Market: Pakistan
Pakistan
Pakistan has a huge deficiency of energy which is witnessed by frequent power shortages in the country. Pakistan has huge reserves of natural gas but its oil reserves are negligible as they stand at 0.313 billion barrels of oil as of 2011.
Oil Consumption and Imports
Pakistan’s energy deficiency is majorly fulfilled by oil. Its growing population and economy have resulted in a rise of oil consumption over the years. In 2007, its oil consumption was around 382 thousand barrels per day and in 2011, it increased to 426 thousand barrels per day. This high oil consumption of Pakistan has led to oil imports, which have a major share of the country’s all imports. In 2005, the country’s imports were approximately 119 thousand barrels of oil per day and these imports rose to 195 thousand barrels of oil per day in 2008.
Legends:
- Thousands of Barrels
- Years
Pakistan’s Oil Imports Per Day
Pakistan has sufficient level of refinery capacity available to support its energy demand. In 2011, its refinery capacity was reported to be standing at 286,000 barrels per day according to United States’ Energy Information Administration (EIA). Therefore, this combination of Pakistan’s oil consumption, oil imports, and refinery capacity provide RBE with a strong opportunity to expand its oil trading services in Pakistan.
Legends:
- Thousands of Barrels
- Years