Pakistan State Oil (PSO) on Friday denied all the rumours about the shortage of fuel reserves and said that there is ample stock of petroleum products in the country.
The Ministry of Energy and Oil & Gas Regulatory Authority (OGRA), according to the PSO spokesman, is keeping an eye on the general situation regarding product availability by other oil marketing companies to ensure that the nation’s supply chain is maintained smoothly.
He claimed that PSO would continue to supply the nation with petroleum products on an uninterrupted basis, that there is enough gasoline and diesel in the country, and that 80,000MT and 90,000MT, respectively, of each have arrived at Karachi Port.
According to the OGRA spokesperson, local oil marketing firms and refineries are also working to meet the demand for petroleum products.
The Oil Companies Advisory Council (OCAC) requested last week that the federal government step in right away to guarantee the prompt issuing of lines of credit to import petroleum products in order to prevent a fuel scarcity in the nation.
On behalf of oil marketing companies (OMCs) and refineries, the OCAC sent a letter outlining the difficulties resulting from the opening of letters of credit (LCs) for the import of petroleum products being delayed.
There haven’t been many oil shipment cancellations as a result of the LCs being closed.
Mogas, High-Speed Diesel (HSD), and 650,000 MT of crude oil must all be imported into Pakistan on a monthly basis for a total cost of about $1.3 billion.
