1.5 billion barrels of oil

[ShaikhKamal]

This is Fake News ! There has been so many news of Gas and Oil discoveries in Pakistan and all were proven to be false news. So this news is also fake news until it makes Pakistan self-sufficient in oil and gas. There will be no oil and gas and our conspiracy media will start these theories 1) Saudi Arabia or US or UAE or Iran has forced us not to exploit these Oil and Gas fields 2) India has threatened to bomb these fields if we start extracting Oil and Gas.

 

[Fenrir]

Link is saying something else

It's measured in number of thousands - B/D th. 588.616 thousand barrels per day. I know it's misleading to read, but other sources confirm that Pakistan's per day consumption isn't a measly 588 barrels, but 588,000.

A barrel of oil is 158.9 liters. At 588 barrels per day that's a palty 93,433 liter per day. Pakistan uses a lot more then that.

https://www.theglobaleconomy.com/Pakistan/oil_consumption/

https://www.ceicdata.com/en/indicator/pakistan/oil-consumption

Pakistan’s Oil Consumption was reported at 588.616 Barrel/Day th in Dec 2017. This records an increase from the previous number of 566.017 Barrel/Day th for Dec 2016. Pakistan’s Oil Consumption data is updated yearly, averaging 227.102 Barrel/Day th from Dec 1965 to 2017, with 53 observations. The data reached an all-time high of 588.616 Barrel/Day th in 2017 and a record low of 71.204 Barrel/Day th in 1972. Pakistan’s Oil Consumption data remains active status in CEIC and is reported by BP PLC. The data is categorized under World Trend Plus’s Association: Oil and Gas Sector – Table RO.BP.OIL: Oil: Consumption.

 

[Pandora]

It's measured in number of thousands. 588.616 thousand barrels per day. I know it's misleading to read, but other sources confirm that Pakistan's per day consumption isn't a measly 588 barrels, but 588,000.

A barrel of oil is 158.9 liters. At 588 barrels per day that's a palty 93,433 liter per day. Pakistan uses a lot more then that.

https://www.theglobaleconomy.com/Pakistan/oil_consumption/

https://www.ceicdata.com/en/indicator/pakistan/oil-consumption

Pakistan’s Oil Consumption was reported at 588.616 Barrel/Day th in Dec 2017. This records an increase from the previous number of 566.017 Barrel/Day th for Dec 2016. Pakistan’s Oil Consumption data is updated yearly, averaging 227.102 Barrel/Day th from Dec 1965 to 2017, with 53 observations. The data reached an all-time high of 588.616 Barrel/Day th in 2017 and a record low of 71.204 Barrel/Day th in 1972. Pakistan’s Oil Consumption data remains active status in CEIC and is reported by BP PLC. The data is categorized under World Trend Plus’s Association: Oil and Gas Sector – Table RO.BP.OIL: Oil: Consumption.

Yes you are correct.

 

[Mamadouso]

Just study hard, invest in the universities and research & development.

Therefore any oil discovery will just be one of many strengths and not something to cure all ills.

I see some Pakistani reaction just wishing for oil so they can be like Arabs and embrace laziness and two day working weeks. Don’t be like that, invest in education and oil will just be an added bonus.

 

[PakSword]

Link is saying something else 588 per day

You are correct its daily. Even if we can manage to reduce 25% of yearly oil bills for next 10 years it will give our economy required breathing period. Don't underestimate value of this discovery. This also means that in future more such discoveries are possible.

I don't know about the data but it can't be 600 barrels..

1 barrel = 160 liters.. which means you are saying daily consumption is 160X600 liters?

 

[Foxtrot Delta]

As reported we are going to be 5th or 6th largest oil producing country in near future. Also we have largest oil reserves in Balochistan and KPK, if they get discovered we might become one single largest oil producing nation. Now what I am thinking, what if we use oil drilling contracts as a tool to boost our defence capabilities, world needs money and we need Technology.
I think near future holds mega money for Pakistan, it's not just oil there are other factors, I'll elaborate on them later in thread, but for now share your thoughts what we can gain from world to reproduce it much better and cheaper. Convert it to cash, so we don't relay on just one thing like Arabs.

dude that's not true exaggeration is never good. leave that to indians .
also 1.5 billion barrels is not even in top 20 countries of the world. in pakistan people exaggerate alot please change urself its naya pakistan now. grow up

 

[Myth_buster_1]

As reported we are going to be 5th or 6th largest oil producing country in near future. Also we have largest oil reserves in Balochistan and KPK, if they get discovered we might become one single largest oil producing nation. Now what I am thinking, what if we use oil drilling contracts as a tool to boost our defence capabilities, world needs money and we need Technology.
I think near future holds mega money for Pakistan, it's not just oil there are other factors, I'll elaborate on them later in thread, but for now share your thoughts what we can gain from world to reproduce it much better and cheaper. Convert it to cash, so we don't relay on just one thing like Arabs.

And then you will have these things around.