New refinery, oil storage facility planned

The Trans-Asia refinery has planned to set up an oil refinery at Port Qasim, Karachi, Pakistan, at an estimated cost of US$450 million, to meet the domestic requirements of petroleum products. The Hascombe Pvt. Ltd. has also expressed intention to establish an oil storage facility at Shikarpur at an estimated cost of Rs350 million (US$4.01 million). According to Pakistan’s Annual Plan 2010-2011, Coastal Refinery Ltd. (CRL) and Bosicor Oil Pakistan Ltd. (BOPL) intend to set up a Single Buoy Mooring System Offshore Oil loading/unloading facility near Hub Coastal line, at an estimated cost of US$30 million. An allocation of Rs2.6 billion (US$30.46 million) has been indicated during 2010-2011 for the fuel sector. (June 13, 2010)