KARACHI, March 8: The domestic oil and gas production has increased by three per cent and 22 per cent respectively during the first quarter of the current financial year, a report said here on Tuesday.

Oil production has recorded a nominal increase of three per cent to 64,000 barrels per day while average daily gas production surged by 22 per cent to 3.5 billion cubic feet per day compared to the same period last year. However, production of liquefied petroleum gas (LPG) declined by three per cent to 910 tons per day.

OGDC remained the market leader in local oil production with 35,000 barrels per day, which is 17 per cent higher than the last year. OGDC's gas production was up by 22 per cent compared to the same period of last year.

Gas production from Pakistan Petroleum Ltd (PPL) was higher by 11 per cent to 950 million cubic feet per day but the oil output was slightly lower than last year. On the other hand, gas production from Pakistan Oilfields declined by 12 per cent to 29.6 million cubic feet and oil production also fell by 16 per cent. -APP