Ogra allows three refineries to export HSFO in June, July

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has allowed three refineries to export up to 120,000 MT of low and high sulphur furnace oil (HSFO) in June and July 2024, well-informed sources told Business Recorder.

According to Ogra’s Senior Executive Director (OSC), Atif Sajjad, in a letter to National Refinery Limited (NRL) has stated that the latter may proceed to export 40,000 MT (+/- 10 percent) of high sulphur furnace oil during the month of June 2024. Pak Arab Refinery Limited (PARCO) has been allowed to export 50,000 MT (+/- 10 percent) of high sulphur furnace oil during the current month.

Ogra has allowed Attock Refinery limited (ARL) to proceed to export 30,000 MT (+/- 10 percent) low sulphur furnace oil during June and July as per plan.

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The sources said the three refineries had sought permission to export furnace oil as its consumption in the country especially in the power sector is now negligible.

Presently, the government is making endeavors not to run power plants on furnace oil and High Speed Diesel (HSD) as generation from both sources is expensive as compared to other fuels, like RLNG and imported coal. However, Genco’s are operated on furnace oil, especially in areas where load issues exist.

Copyright Business Recorder, 2024