ISLAMABAD: Pakistan State Oil (PSO) has dismissed rumours regarding a shortage of petrol and diesel in the country, claiming that misleading information is being deliberately spread. PSO emphasized that the country has over 20 days’ worth of stock of both petrol and diesel.
In response to the ongoing crisis in the Middle East and the situation at the Strait of Hormuz, PSO submitted a detailed report to the Ministry of Petroleum and relevant security agencies, clarifying the availability of petroleum products in Pakistan.
The report stated that the fuel shortage allegations are untrue because government-owned reserves currently hold more than 20 days of petrol and diesel supply. It also noted that private oil marketing companies have additional stock available.
According to PSO, approximately 80% of the country’s diesel demand is met by local refineries, ensuring a stable supply. The report highlighted that two petrol cargoes have already been purchased from Oman for this month and have arrived in Pakistan as per the schedule. Additionally, a petrol cargo has been acquired from Saudi Arabia’s Aramco with government support.
PSO further clarified that another shipment of petrol has been secured for the first week of April, and a new tender, which was opened on March 10, is expected to bring another petrol cargo by April 25. Another tender for April’s petrol supply will be opened on March 16, with the quantity of cargoes to be determined based on demand and supply conditions.
The report also stated that current supply needs require agricultural season planning together with strategic stock requirements to explore different options which will prevent any supply disruptions.
PSO issued a warning that the Strait of Hormuz closure would create two major risks that would impact petroleum product imports and crude oil deliveries to domestic refineries. Due to current circumstances, two cargoes from Kuwait Petroleum have not yet reached Pakistan.
