KARACHI:*In a big economic development, Pakistan becomes the exporter ofthe Furnace Oil to World.*
Pakistan has become an exporter of furnace oil as a prominent refinery’sship loaded with the fuel is scheduled to leave Karachi Port on Tuesday(today).
A source at The Karachi Port Trust (KPT) said that oil tanker Roy Maerskhas been currently being loaded with furnace oil and anchored at berth Op-2on Sunday.
It is scheduled to leave the Karachi Port on Tuesday. It was Byco’s cargo,the source added. Byco refinery has planned to export about 25,000 tons offurnace oil. A market source the ship is destined to an oil-rich MiddleEastern country.
The source added that the refinery was exporting the cargo through aDutch-based international oil trading firm, which had a significant stakein a local oil marketing company and had storage operations in Pakistan.
Read Top Stories
The Petroleum Division official said late last week refineries stocks werepiled up to the level of 105,000 tonnes in December 2019, which have nowbeen reduced to 40,000 tons due to furnace oil consumption by powerproducers.
Refineries are supplying furnace oil to power producers through oilmarketing companies (OMCs) while the OMCs procure furnace oil from therefineries as per demand of power producers.
