ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has taken swift action to safeguard the country’s refineries by halting some oil marketing companies (OMCs) from importing High-Speed Diesel (HSD) due to an oversupply of the fuel. The regulator canceled diesel cargoes scheduled for Pakistan State Oil (PSO) and GO company for October and November, in response to warnings from refineries that excess HSD stocks could destabilize the country’s supply chain.
An emergency meeting between OGRA, refineries, and OMCs led to the postponement of additional HSD imports, with further cancellations possible in the coming months. Refineries had raised concerns about the 770,000 metric tonnes of HSD in reserve, enough to meet demand for 50 days, urging action to prevent a supply chain collapse.
Story by Zaigham Naqvi
