‘Proven oil reserves’ are always a difficult topic, because the numbers reported are often misleading and subject to uneven fluctuations. Therefore, experts are surprised by President Donald Trump’s announcement that the US and Pakistan have signed an agreement, which will work together to develop the two Pakistan’s massive oil reserves, in a country that is a major petroleum importer. So far, evidence of this ‘reserve’ has been slightly better than gloomy. Pakistan has seen a series of unsuccessful foreign exploration efforts. The proven recoverable conventional crude -oil reserves of between 234 million and 353 million barrels according to different estimates place it around the 50th position in the world. In real terms, therefore, it is only 0.021 percent of the global oil reserves. For Pakistan, the reserves at the current consumption rate would cover less than two years without imports. In contrast, which is the world’s third largest crude oil consumer, approximately 4.9 billion barrels of oil reserves, which are among the top 25 worldwide. This is about 0.29 percent of the world’s total oil reserves. Former Pakistan High Commissioner G Parthasarathy says: “It’s a desperate effort by the US-China-Pakistan axis to blackmail India. If China had the slightest inking over oil reserves in Pakistan, do you think it would put it on its heels?” Islamabad said just as much when it described the US pack agreement as a marker of a broader partnership with Washington, Finance Minister Muhammad Aurangzeb, and acknowledged that there was a greater economic and strategic agreement. Pakistan’s dependence on China Washington is concerned to wean Pakistan, a nuclear army of 240 million people, away from the increasing dependence on China. The exploitation of shale oil was not developed into Pakistan, although a 2015 study by the US Energy Information Administration estimated a technically recoverable shale oil source of Pakistan 9.1 billion barrels. Show Santanu Saikia, editor of IndianpetroPlus.com: “Pakistan’s oil and gas discoveries have yet to be confirmed. Some seismic surveys have established forecasting reserves, but they are far from confirming unless exploration pits identify the type of reservoir and its reserves. Fifth of its total import account has shown the central banking data. ‘Possible massive finding’ abroad has not been announced. Eni, Pakistan Petroleum Limited and Oil & Gas Development Company Limited drilled over 5,500 meters, but did not find oil or gas reserves. Safety remains a great concern, “the Dawn said. With politics and safety never too far from each other in Pakistan, most of his oil reserves are in a tranquil Balochistan, the resource-rich province, which exists against the country’s military institution. Nevertheless, experts here see a possible tendency. If realized and sustained, serve as a catalyst for Pakistan’s energy independence, infrastructure development and industrial growth. Whether refined product markets experience as Pakistan starts to export downstream products or negotiate the energy transport routes, Pandey told this reporter. Currently, the scenario looks a little away. About $ 1.02 billion in Iranian gasoline and diesel was illegally transported to Pakistan in 2023, reports Iran International, with a 2024 report of the Pakistani military intelligence. The smuggled oil from Iran makes up about 14 percent of the annual fuel consumption of Pakistan, it says.
Why Trump’s oil deals with Pakistan, experts bumped | Today news
