The government has issued an order to the Oil and Gas Regulatory Authority (OGRA) to ensure that all retail outlets of oil marketing companies (OMCs) have an adequate supply of petroleum products.
In response to reports of dry retail outlets operated by OMCs, the Energy Minister has taken the matter seriously and directed OGRA, through a letter, to deploy its enforcement teams to verify that all fueling stations have sufficient stocks of petroleum products.
This action follows a warning from Pakistan State Oil (PSO) that many OMCs were relying on PSO’s petrol and diesel stocks rather than procuring their own. PSO expressed concern that this situation could lead to a crisis in domestic supply.
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With the exception of a few OMCs, most companies had stopped importing fuel due to the high import premiums they had to pay, making it more economical to obtain it from PSO.
Smaller OMCs typically do not import and heavily depend on PSO for imports. The Petroleum Division’s letter to OGRA emphasizes the need to maintain adequate stocks of Motor Spirit (MS) and High-Speed Diesel (HSD) throughout the country.
Any OMC found to have stock levels below the regulated amount may face regulatory action to prevent shortages in the country.
