PSO arranges 5 additional cargoes of diesel to ensure fuel stocks available

PSO has arranged five additional high-speed diesel (HSD) cargoes from March to May 2022 in response to increased demand for diesel, mostly owing to the harvesting season and limited product availability/imports by other market players. These cargoes will help ensure fuel stocks in Pakistan.

These cargoes are in addition to the 11 planned following PSO’s regular market share, as committed by PSO during the Product Review Meeting chaired by the Oil and Gas Regulatory Authority (OGRA).

PSO sold around 120 million liters of diesel in April 2022, equating to 100,000 tonnes of more diesel, or two import cargoes. The corporation has a market share of 57.4 percent as of April 21, 2022, compared to 49.7 percent in the previous month.

To satisfy the rising demand, we have enough stock in our supply chain. Despite the sudden strain on PSO’s supply chain, our staff is working 24 hours a day, seven days a week to guarantee that the nation’s fuel demands are met.

OGRA is also keeping an eye on the overall situation with other oil marketing organizations to keep the country’s supply chain running smoothly.

As usual, PSO is dedicated to helping our country.

OCAC assures ample fuel stocks

The Oil Companies Advisory Council (OCAC) confirms that the country has ample fuel supplies.

Despite limited product availability in the international market due to geopolitical tensions, the Oil Companies Advisory Council (OCAC), the primary representative of Pakistan’s downstream oil industry, has reported ample stocks of Motor Spirit (MS) and High-Speed Diesel (HSD) are available in the country.

This is due to refineries’ support in providing locally produced fuel products, as well as OMCs’ planning and meeting volume commitments on time.

Rising demand for HSD

Due to the increased demand for HSD in the country as a result of the harvesting season, OCAC is working with the industry, the OGRA (Regulator), and the Ministry of Energy to efficiently manage the increased demand (Petroleum Division).

In terms of ensuring a steady supply of gasoline in the country, containers carrying sufficient HSD volumes are already waiting for off-port.

The fuel buyers will discharge after their turn comes, while other planned cargoes will arrive soon.

Similarly, the country’s Motor Gasoline stocks are adequate to fulfill demand, with additional quantities arriving via planned imports.

PSO sales of diesel up by 8% in March 2022

“Pakistan is an energy-deficient country, thus, fuel suppliers meet the imbalance through imports,” Dr. Nazir Abbas Zaidi, Secretary-General of the OCAC, added.

There are issues at ports due to congestion/bunching of vessels, etc., as a result of ever-increasing import volumes and infrastructure limits.

However, in partnership with OGRA, OCAC is making strenuous efforts to address these issues by making recommendations to keep fuel supplies streamlined.

As a result, in the face of confusing speculations, it’s critical to avoid ambiguity and unusual buying behaviors.”

OCAC urges citizens to avoid panic buying

OCAC also emphasizes that there is ample fuel supply in the country, including cargoes waiting for off-port and other vessels scheduled to arrive soon.

Subsequently, it has urged citizens to purchase fuel products following regular demand rather than allowing ambiguity to lead to desperate bulk purchases.

The Oil Companies Advisory Council (OCAC) is a group of oil companies that advises the government on matters related to the oil industry

OCAC serves a variety of purposes. In areas of common interest to their operations in Pakistan, OCAC represents the downstream oil industry in a variety of forums.

It also acts as a data center, conducting statistical analyses and following up with Ministries to assure the downstream oil sector’s continuous sustainability.