Mari Petroleum has discovered large reserves of oil and gas in Sindh

According to Mari Petroleum spokesperson, oil and gas reserves have been discovered in the Shawal One well in Sindh. Mari Petroleum has discovered oil reserves for the first time in 47 years.

According to the announcement, the well will produce 2.5 million standard cubic feet of gas per day, while the well will produce 1,040 barrels of crude oil per day. In a letter to the stock exchange, Mari Petroleum officials said that the said gas well is 100 percent owned by Mari Petroleum.

Petrol prices are likely to drop from May 1 – Expected petrol price in Pakistan

On the other hand, crude oil prices fell by 4.2% in the global market due to fears of a disruption in the supply of crude oil in the global market due to tensions in the Middle East.

Brent crude rose 2.4 percent to $2.63. Its new price was recorded at 89.74 dollars per barrel, while US crude oil (WTI) increased by 2.56 dollars to 84.66 per barrel.