Lower oil consumption in Jan
2/16/2012 3:35:15 PM
KARACHI: The Oil consumption in the country remained week in the month of January as it stood at 1.46 million tons as compared to 1.64 million tons in the same month last year, witnessing a decline of 11%.
The major reason for the decline in consumption was the drop in sale of Furnace Oil (FO), which is down 15 percent due to crippling circular debt issue, says the research note of JS Global Capital Ltd.
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