OMCs asked to cancel oil import orders as demand drops

0
684

ISLAMABAD: The Ministry of Energy (Petroleum Division) has directed all oil marketing companies and refineries to cancel their planned import of motor gasoline and crude oil, as consumption has dropped significantly due to enforcement of lockdowns by provincial governments.

The Petroleum Division’s Directorate General of Oil, in a letter to the Oil Companies Advisory Council (OCDC) CEO, has asked all OMCs to cancel from April 2020 onwards the import of motor gasoline and increase the offtake from refineries so that the operations at refineries are maintained at an adequate level.

Similarly, in order to ensure smooth operations of exploration and production companies, the energy ministry has directed the refineries to cancel the import of crude oil.

“OCAC is requested to convey the above directions to all OMCs/refineries for strict compliance,” said the Petro Division document available with Pakistan Today.

It further informed the OCAC that consumption of motor gasoline has dropped significantly due to enforcement of lockdowns by provincial governments to control the spread of COVID-19.

As per the energy ministry, OMCs have sufficient inventory of products to meet the requirements.

LEAVE A REPLY

Please enter your comment!
Please enter your name here