Pakistan is considered as an oil-rich nation, although untapped, with high estimates of proven and non-proven reserves. OGDCL, as well as other private-sector corporations had made a series of oil discoveries up till the 80’s, however overall production has largely remained flat, at approximately 60,000 barrels per day. The government has now aimed at increasing output to 100,000 bbl/day, however that has still not materialized, with average production for 2011 standing at 59,000 bbl/day. Pakistan’s oil consumption stands at 410,000 barrels per day, therefore even if the stated target was to be achieved, the bulk requirement would still be fulfilled through imports, increasing energy costs higher and harming the overall trade balance.