Cars production increases 85% during July 2021-22

The production of cars in the country has witnessed an increase of 85.08 percent during the first month of current financial year 2021-22 as compared to corresponding period of last year.

During the July 2021-22, as many as 15,325 cars were manufacture against the production of 8,280 units, showing growth of 85.08 percent, according to Pakistan Automobile Manufacturing Association (PAMA).

The production of Toyota Corolla cars went up by 43.11 percent from 1,561 units to 2,234 units during the month under review whereas the production of Suzuki Swift also rose by 213.11 percent from 61 units to 191 units.

However, the production of Honda cars decline from 2,193 units to 1,856 units, showing decreased of 15.36 percent, it added.

Similarly, the newly launched Toyota Yaris also witnessed increase as its production jumped to 1,947 units in the month under review from 1,879 units in July 2020.

Production of Suzuki Cultus increased from 1,428 units to 3,051 units, witnessing increase of 113.65 percent while the production of Suzuki Wagon-R also witnessed an increase of 385.66 percent from 300 units to 1,457 units during July 2021.

Meanwhile, the production of Suzuki Bolan declined by 45.75 percent from 730 units to 396 units whereas the production of Suzuki Alto increased from 128 units to 3,893 units, witnessing growth of 2941.40 percent, the data added.

A fire on an offshore platform operated by Mexican oil and gas giant Pemex has left at least five people dead, two missing and six injured, the state-run company said Monday.

The blaze led to the suspension of work at more than 100 oil wells that rely on the platform for electricity and injections of natural gas, Pemex said.

The accident occurred on Sunday in the Bay of Campeche in the southern Gulf of Mexico during maintenance work.

One of the injured was in serious condition, Pemex chief Octavio Romero told a news conference.

"The exhaustive search for the missing persons continues," he said.

The fire put 125 oil wells out of action, resulting in a production loss of 425,000 barrels a day, but they were expected to be restarted by Tuesday, Romero said.

The company has been trying to arrest steady decline in its oil production,

a which fell from an average of 3.4 million barrels a day in 2004 to 1.7 million bpd in 2020.

Pemex said it had launched an investigation into the blaze, which it said was brought under control after an hour.

Pemex is battling back from what it called the worst crisis in its history last year due to the coronavirus pandemic.

The group lost around $23 billion in 2020 due to a slump in demand for energy that caused oil prices to briefly turn negative for the first time.

A recovery in prices helped it make a profit of around $720 million in the second quarter of 2021.