Pakistan gas giant to start zinc exports amid shift from fuel

Bloomberg

Pakistan Petroleum Ltd (PPL) is looking to begin zinc and lead exports from next year as the nation’s largest gas explorer moves away from the fuel after a decade of zero growth in domestic production.
The oil and gas explorer aims to boost revenue from its mining business to $100 million annually within three years, CEO Moin Raza Khan said. It also plans to bid for a license to extract coal in the Thar desert to fuel new power stations.
“There is a gloomy picture if you look at the current oil and gas scenario,” Khan said from Karachi, adding that the company’s petroleum resources may run out in nine years if it doesn’t take steps to increase them. “We have to diversify into minerals.”
Domestic gas production has plateaued for the past decade, forcing the South Asian nation to import cargoes and become one of the world’s fastest growing markets for liquefied natural gas. To diversify and expand, state-owned PPL is also pursuing opportunities in international oil and gas ventures, Khan said.