Govt Tightens Control on Furnace Oil Exports Amid US-Iran Tensions

Islamabad: The government has bound oil refineries to seek prior approval from the Prime Minister Committee on Monitoring of Petrol Prices for the export of furnace oil.

The Ministry of Petroleum Division has informed the Oil and Gas Regulatory Authority (Ogra) that the Prime Minister Committee on the Monitoring of Petroleum Prices has decided that, in view of the emerging regional situation arising from the US-Iran conflict, export of Furnace Oil (FO) shall be undertaken only after obtaining prior approval from the aforesaid PM Committee.Govt Warns Strict Action Against Oil Hoarding

“I am directed to refer to the subject cited above and to say that, as decided in the meeting of the Prime Minister Committee on the Monitoring of Petroleum Prices, any export of Furnace Oil (FO) shall be undertaken only after the prior approval of the Prime Minister’s Committee on Monitoring of Petrol Prices,” the Petrole