ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has issued 21 provisional licences for establishing Oil Marketing Companies (OMCs) in a period of six months from July to December 2016.
"With the establishment of these companies, a minimum investment of Rs 10.5 billion will pour into the oil sector during next three years," official sources told APP Friday.
The authority, they said, granted the licences to M/s Best Petroleum (Pvt.) Limited, M/s Oil Industries Pakistan (Pvt.) Limited, M/s Accel Petroleum (Pvt.) Limited, M/s Euro Oil (Pvt.) Limited, M/s Oleum Petroleum (Pvt.) Limited, M/s Al-Noor Petroleum (Pvt.) Limited, M/s Damam Petroleum (Pvt.) Limited, M/s Max Fuels (Pvt.) Limited, M/s Fast Oil (Pvt.) Limited, M/s Hi-Tech Lubricants (Pvt.) Limited, M/s Jinn Petroleum (Pvt.) Limited, M/s Vital Petroleum (Pvt.) Limited, M/s International Petrochemicals (Pvt.) Limited, M/s Allied Petroleum (Pvt.) Limited, M/s Only One Energy (Pvt.) Limited, M/s Pak Gasoline Services (Pvt.) Limited, M/s Shams Petroleum (Pvt.) Limited, M/s Berkeley Oil & Gas Development (Pvt.) Limited, M/s Taj Gasoline (Pvt.) Limited, M/s My Petroleum (Pvt.) Limited and M/s Terminal One (Pvt.) Limited.
Besides, the sources informed that OGRA issued product marketing permission to five companies after they established their storage facilities and completed other requirements under three-year provisional licences.
The permission have been granted to M/s Horizon Oil Company (Pvt) Limited, M/s Petrowell (Pvt.) Limited, M/s Kepler Petroleum (Pvt.) Limited, M/s Outreach (Pvt.) Limited and M/s Z&M Oils (Pvt.) Limited in their respective provinces, introducing new players in marketing arena of petroleum products.
During the period, they sources said, the authority, through Third Party Inspectors (TPIs), inspected oil storage infrastructure developed by various OMCs including Bakri Trading Company (Pvt.) Limited at Shikarpur; M/s Petrowell (Pvt.) Limited at Port Qasim, M/s Outreach (Pvt.) Limited at Manga, M/s Kepler Petroleum (Pvt.) Limited at Daulatpur, M/s Gas & Oil Pakistan (Pvt) Limited at Shaheed Benazirabad (Nawabshah), M/s Z&M Oils (Pvt.) Limited at Pattoki (Kasur); M/s Hascol Petroleum Limited at Amangarh, Daulatpur (additional), Shikarpur (additional) & Mehmoodkot and M/s Horizon Oil Company (Pvt.) Limited at Vehari.
They said four licenses were granted to companies including M/s Hascol Terminals Limited, M/s Fauji Tarns Terminal Limited, M/s Hascol Petroleum Limited] for development of new Oil Storages/Terminals at different locations, which would further strengthen the oil supply infrastructure.
The authority also granted licences to two Lube Oil Blending plants and six Lubricant Marketing companies.
Answering a question, the sources said OGRA complaint departments received 3,003, out of which 2,427 were resolved by providing 195 gas connections and giving Rs 305.188 million relief to consumers.
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