Petroleum Institute of Pakistan (PIP), which represents all segments of the petroleum industry, was established in 1963 for the purpose of promoting and coordinating the activities of oil and gas sector in Pakistan. Presently the Institute consists of 20 Industrial Collective Members and is administered by a Board of Directors elected from the CEOs of its member companies.Broadly the objective of the Institute is to engage in activities for promoting the long-term development of the oil and gas sector in Pakistan. This includes forecasting the energy demand and supply position of the country over a 15-year period, which the Institute undertakes through its "Pakistan Energy Outlook" document showcasing the energy scene of the country and suggesting solutions for its energy issues.The Institute also has long standing links with major international bodies, including the International Gas Union (IGU) and the World Petroleum Council (WPC).