Govt to initiate auction of 40 oil, gas blocks: Omar Ayub

ISLAMABAD: Minister for Petroleum Omar Ayub Khan has mentioned the federal government will announce a brand new oil and fuel exploration and manufacturing coverage within the subsequent few months.

In an announcement, he mentioned we will even provoke public sale of forty new oil and fuel blocks from December this yr. This can generate good exercise in Oil and Gasoline sector.

Omar Ayub mentioned the bottom breaking of Khalifa Level Refinery mission might be carried out by finish of this yr. This eight billion greenback mission is a three way partnership of PARCO and the United Arab Emirates.

He mentioned the refinery can have output capability of 250,000 barrels per day.

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