Pakistan’s oil consumption declines by 9.6% in February

Oil consumption in Pakistan has witnessed a significant decline of 9.6% year-on-year, with total volumes at a 27-month low of 1.30 million tons in February 2010 over the same period last year. Compared to the previous month, oil consumption in February posted a decline of 26.6%. Khurram Schehzad, senior analyst at Invest Capital and Securities said total oil consumption during the first eight months of Fiscal Year 2010 posted double digit growth at 12.07% year-on-year, with total volumes at 13.07 million tons. (March 6, 2010)