The Oil and Gas Regulatory Authority (OGRA) has refuted reports of a shortage of petrol and diesel in Pakistan. In a couple of tweets, the spokesperson Imran Ghaznavi asserted: “OGRA strongly rebut the speculations on Petrol/diesel shortages. The country has sufficient petrol and Diesel stocks to meet the demand for 18 and 37 days, respectively.”
Ghaznavi further mentioned that the ships carrying 101,000MT petrol are at berth/outer anchorage.
OGRA strongly rebut the speculations on Petrol/diesel shortages.
The country has sufficient petrol and Diesel stocks for meeting demand for 18 and 37 days respectively.
Furthermore, ships carrying 101,000MT petrol is at berth/outer anchorage. 1/1
Spokesman OGRA— Imran Ghaznavi (@ighaznavi) January 24, 2023
In the second tweet, he said that the local refineries are playing their due role in meeting the demand for petroleum products.
The local refineries are playing their due role in meeting demand of petroleum products.
Spokesman OGRA
Imran Ghaznavi 1/2— Imran Ghaznavi (@ighaznavi) January 24, 2023
The rebuttal came after industry experts and oil companies warned of a possible fuel shortage in the country. The issue of LCs is hitting the petroleum sector, along with the other sectors.
OMCs Letter to Govt
Last week, the Oil Company Advisory Council (OCAC) wrote a letter to the finance secretary on behalf of Oil Marketing Companies (OMCs) and refineries. It drew the ministry’s attention towards the issue begot in the face of closed LCs.
The council stated, “If LCs are not established on a timely basis, critical imports of petroleum products will be impacted, which may lead to a fuel shortage in the country.” The council further informed if this happens, the fuel supply would be compromised, it may take six to eight weeks to normalize the situation.
The OCAC Said, “These imports require the opening of LCs; however, the industry is facing severe challenges of opening and confirmation of the LCs, which has caused a delay in multiple cargoes and a few cancellations as well.”
To meet the energy deficit, Pakistan needs to import 430,000 metric tonnes (MTs) of mogas, 200,000 MTs of High-Speed Diesel (HSD), and 650,000 MTs of crude oil every month, which costs around $1.3 billion.
What is your take on the possible shortage of petrol in Pakistan? Please share your thoughts in the comments section.
