ISLAMABAD: Pakistan State Oil (PSO) has stated that false information is deliberately being spread regarding a shortage of petrol and diesel in the country, while in reality stocks sufficient for more than 20 days are available.
PSO has submitted a detailed report to the Ministry of Petroleum and other relevant institutions regarding the availability of petroleum products in the country in the context of the ongoing war in the Middle East and the situation in the Strait of Hormuz.
According to the PSO report, misleading information about a shortage of petrol and diesel is being intentionally circulated, whereas the fact is that government-owned reserves alone contain more than 20 days of petrol and diesel stocks.
The report further states that this stock does not include the reserves held by private oil marketing companies. It also noted that nearly 80 percent of the country’s diesel demand is being met through production from local refineries, which has helped maintain a stable supply situation.
According to PSO, two cargoes of petrol have already been purchased from Oman for the current month and have arrived in Pakistan as per schedule. Additionally, with government support, one cargo of petrol has also been obtained from Saudi Arabia’s company Aramco.
The report states that another petrol shipment has already been purchased for the first week of April, while under a tender opened on March 10, another cargo of petrol is expected to be secured by April 25.
PSO said that bids submitted under various tenders will remain valid until March 13, and another tender for petrol for April will be opened on March 16. The number of cargoes will be decided according to the country’s demand and supply situation.
The report further mentioned that keeping in view the upcoming agricultural season and the need for strategic stock, work is also underway on alternative options to prevent any possible disruption in supply.
PSO has warned that a possible closure of the Strait of Hormuz could pose a threat both to the import of refined petroleum products and the supply of crude oil to local refineries.
Due to the current situation, two refined petroleum cargoes from Kuwait Petroleum have also been unable to reach Pakistan.
