The federal government of Pakistan plans to bring oil supplies from Saudi Arabia and the United Arab Emirates (UAE) to the country through the Red Sea due to the closure of the Strait of Hormuz. Officials also said the oil price review will shift from a fortnightly to a weekly system.

Sources told a private media outlet that the government is working on various measures to ensure uninterrupted oil supply amid Israel and US’ attacks on Iran. 

Pakistan imports around one million barrels of oil per month, with Saudi Arabia as a key exporter. UAE-based firm ADNOC and Saudi Aramco will supply oil by bypassing the Strait of Hormuz.


Reports quoted sources as confirming that one refinery has already received shipments through the Red Sea, while a couple of oil vessels have reached Pakistan, and others are en route.

The weekly oil price review is intended to discourage hoarding of petroleum products by dealers. Reports quoted sources that the government projected a possible increase of Rs50 per litre in oil prices following the recent Gulf conflict.

Officials said oil cargo vessels of the Pakistan National Shipping Corporation were placed on standby to lift supplies from Saudi Arabia and the UAE. The Oil and Gas Regulatory Authority (OGRA) ensured sufficient oil stocks to meet the country’s 28-day requirement following pre-emptive imports of surplus fuel.

Reports quoted sources that two crude oil cargoes were stranded due to the closure of the Strait of Hormuz, a 21-mile (33-kilometre) shipping lane that handles nearly one-fifth of the world’s daily oil consumption. 

Last year, over 20 million barrels of crude oil, condensate and fuel were transported daily through the strait. OPEC (Organization of the Petroleum Exporting Countries) members including Saudi Arabia, Iran, the UAE, Kuwait and Iraq use the route to export most of their crude, primarily to Asia.

Reports quoted sources said that Pakistan currently holds 28 days’ stock of petrol and diesel. Officials said OGRA had forecast possible escalation in the Middle East as early as January and ensured oil stocks for over 25 days in January and 28 days in February through surplus imports.

Experts, however, warned of a potential global oil crisis if the war continues. A source said two crude oil cargoes remain stuck due to the Strait of Hormuz closure, with remaining imports scheduled for later.

The Petroleum Division had directed OGRA to maintain adequate stocks of crude and petroleum products, including MS, HSD and LPG, to avoid supply disruption. Imports are being monitored for timely delivery due to the emerging security situation in the Gulf.