By Faisal Munir / DNA

Islamabad, Jan 29 /DNA/ – Petroleum Conference 2024 to take place at a local hotel in Islamabad, today, on Tuesday, 30th January 2024. This prestigious event brings together industry leaders, experts, and government stakeholders to highlight the industry challenges and discuss the latest trends and policy initiatives in the petroleum sector.

Anwar-ul-Haq Kakar, the Prime Minister of Pakistan, will preside over the event as chief guest, with provincial chief ministers attending to represent their respective provinces. The conference will be attended by international delegates, government representatives, policymakers, regulators, and investors from the Energy & Petroleum (E&P) Sector.

The petroleum sector in Pakistan is facing a lack of desired level of investment due to multiple challenges causing a decline in indigenous production and an increase in energy import bill. Pakistan is heavily relaying on imports for meeting its energy needs. Around 85% of oil consumption is from imports while 25% of gas is also imported as LNG, which puts a heavy burden on the current account.

The Petroleum Conference 2024 will offer ample opportunities for networking and fostering connections among professionals, researchers, and decision-makers. Attendees will have the chance to engage with industry experts, explore potential partnerships, and stay updated on the latest industry developments.

This conference will build on the Ministry’s initiative of arranging two focused workshops involving all petroleum exploration and production companies of Pakistan. The workshops provided an important and direct platform to all stakeholders for meaningful interaction aimed at resolving issues and boosting investment in the industry. Through consultation with all the stakeholders, the Ministry had determined policy and regulatory changes, necessary for Pakistan’s E&P Sector.

The Petroleum Division of the Ministry of Energy plans to communicate policy initiatives with all pertinent stakeholders during this conference. The ministry shall also present recommendations and seek support to foster collaboration between all stakeholders, addressing critical issues and exploring opportunities for synergy.

Petroleum Conference 2024 promises to be a pivotal event for professionals seeking to stay informed, connect with peers, and contribute to the advancement of the petroleum sector.