Breaking News: Pakistan on the Brink of an Oil Crisis – What You Need to Know!

The government of Pakistan is expressing concerns regarding a potential oil crisis. Reports have emerged that several retail outlets owned by specific oil marketing companies (OMCs) in the country have run out of oil, as documented by The Express Tribune newspaper.

The Express Tribune is a newspaper in Pakistan that publishes in English.

In response to this situation, the Petroleum Division of the country has called upon the chairman of the Oil and Gas Regulatory Authority (Ogra) to take necessary regulatory actions.

In a letter dated September 12, Imran Ahmed, the Director General of Oil, informed the Ogra chairman that the Minister of Energy has taken serious notice of this issue. The minister has directed the regulatory authority to activate its enforcement team to ensure that all OMCs maintain adequate petroleum product supplies at their retail outlets.

The letter refers to daily reports from the Ogra/Oil Companies Advisory Council (OCAC), emphasizing that Pakistan currently possesses an ample stock of petrol (MS) and high-speed diesel (HSD). It underscores the importance of discouraging and preventing any attempts to hoard petroleum products, as reported by The Express Tribune.

Moreover, the letter stresses that regulatory measures may be taken against any OMCs that fail to meet the mandatory stock requirements to prevent a potential nationwide shortage of petroleum products.

The Director General of Oil has also forwarded this critical directive to the Secretary General of OCAC and the Chairman of the Oil Marketing Association of Pakistan (OMAP).

Additionally, due to the expected increase in oil prices, some petrol stations have been engaging in the practice of seeking additional quantities of petroleum products at the end of every fortnight. They aim to take advantage of potential inventory benefits when oil prices are projected to rise, as highlighted by The Express Tribune.

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