Energy

Top Oil Stocks: PSO to gain after hit in June

Aftab Ahmed

Islamabad: The state-run oil marketing company Pakistan State Oil (PSO) stands at top among other oil marketing companies (OMCs) with highest inventory of petrol and high speed diesel (HSD) to make gains in July following hefty hike in prices of petroleum products.

PSO was holding a stock of 42097 metric tons on June 26, the day when government made increase of Rs 25.58 per litre increase in petrol price. PSO was keeping 15857 tons petrol at Kemari and 26240 tons at PQA.

In addition to petrol, it was keeping 22287 metric tons stock of high speed diesel which included 8626 metric tons high speed at Kemari and 13661 metric tons at PQA. The government had raised price of diesel by Rs 21.31 per litre.

The prices of petroleum products are linked with actual import price of PSO. The government had reduced the import price of petrol by Rs 6 per litre and Rs 3 per litre diesel. The government would clear price differential claims to PSO in coming month of August.

According to figures available with Newztodays.com, other companies like Shell Pakistan Limited (SPL) had 20,145 metric tons stock of Mogas RON92 at Kemari, TPPL 14819, HPL 20,485, APL 15,45 metric tons. APL had tock of 23,216 metric tons petrol at PQA.PSO holds a stock of 15857 metric tons at Kemari and 26240 metric tons at PQA.

The total stock of petrol available with OMCs was 77503 metric tons at Kemari and 63285 metric tons. They were maintaining stock of 17771 metric tons at Kemari and 30,008 at PQA. There are several other small companies that had zero stocks.

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