Local refineries have requested the Oil and Gas Regulatory Authority (Ogra) to postpone the import of motor spirit (MS) and high-speed diesel until March, citing adequate fuel stock levels in the country. Current reserves include 36 days’ worth of petrol and 39 days of diesel, reducing the immediate need for additional imports.
In a letter sent to Ogra, the managing directors of five refineries—Pak Arab Refinery Company Limited (PARCO), Cnergyico Pakistan Limited (CPL), National Refinery Limited (NRL), Pakistan Refinery Limited (PRL), and Attock Refinery Limited (ARL)—urged the regulator to delay further fuel shipments.Â
The letter also highlighted concerns over the non-upliftment of petroleum, oil, and lubricant (POL) products by oil marketing companies (OMCs), which has impacted refinery operations.
The request comes as the sector faces challenges in managing domestic supply, with refineries seeking to align imports with local demand to prevent surplus stock accumulation.Â
Ogra has yet to respond to the refineries’ request.
Pakistan’s oil sales increased by 8% to 1.38 million tonnes in January 2025, up from 1.28 million tonnes in December 2024, while remaining unchanged compared to the same month last year.
In the first seven months of FY25, total oil sales rose by 4% to 9.41 million tonnes from 9.07 million tonnes in the corresponding period of the previous year.
Higher demand for petrol and diesel was driven by improving macroeconomic indicators, lower prices, and a decline in smuggling. An upward trend in automobile and two- and three-wheeler sales also contributed to the increase in petroleum consumption.
