Sufficient diesel stock available in country: Petroleum Division

• An ample stock of HSD (High Speed Diesel) around 265,000 Metric Tons (MTs) is available in the country,
• The spokesman said four diesel vessels carrying around 182,000 MTs fuel were scheduled to arrive at the Port Qasim from May 13-17.
• Petroleum Division is vigorously monitoring the situation and has directed all refineries to enhance their production.

ISLAMABAD: Petroleum Division on Monday clarified that the country had sufficient diesel stock to meet its seven to ten-day needs, rejecting speculations over ‘severe’ diesel supply amid wheat harvesting season in most areas of the country.

“An ample stock of HSD (High Speed Diesel) around 265,000 Metric Tons (MTs) is available in the country, which are sufficient for seven to ten days demand of the entire country,” a spokesman for the Petroleum Division said in a press statement.

Sharing the demand and supply position for the month of May, he said the diesel demand was 711,013 MTs, which was being met through local production and imports.

He said oil refineries were producing 435,000 MTs HSD, while 394,000 MTs diesel was being imported to meet the country needs during the current month.

In order to ensure availability of sufficient stocks of HSD, the spokesman said the import was planned 'higher than deficit.'

He, however, said due to non-availability of vessels in international market caused by the coronavirus pandemic, the supplies had been delayed by two to three days. “However, sufficient stocks are available with Pakistan State Oil (PSO).”

The spokesman said four diesel vessels carrying around 182,000 MTs fuel were scheduled to arrive at the Port Qasim from May 13-17.

Giving break-up, he said a vessel - Hafnia Phonex - would bring 42,000 MTs diesel on May 13 for Hascol Oil Marketing Company, while three vessels , Junior G, Maersk Teesport and Helene would arrive carrying 60,000 MTs, 40,000 MTs and 40,000 MTs diesel on May 14, 15 and 17 respectively for the PSO.

“Petroleum Division is vigorously monitoring the situation and has directed all refineries to enhance their production. Similarly OMCs (oil marketing companies) have also been directed to move the product at high consumption depots/locations. Accordingly, the situation will get normalized, soon,” the spokesman said.