OCAC says ample stocks available amid reports over fuel shortage

Oil Companies Advisory Council (OCAC), primary representative of the downstream oil industry of Pakistan, has said ample stocks of Motor Spirit (MS) and High-Speed Diesel (HSD) are available in the country, dismissing reports of an impending fuel shortage.

The body has requested citizens to not let reports related to the shortage of fuel translate into desperate bulk buying as that might create a problem.

In a statement, OCAC acknowledged the support of refineries in providing locally produced fuel products, and OMCs for planning imports and meeting volume commitments timely despite the limited product availability in the international market due to geopolitical tensions.

Since HSD sales have drastically soared in the country due to the harvesting season, OCAC is actively playing its role in effectively managing the surged demand in consultation with the industry, OGRA (Regulator), and the Ministry of Energy (Petroleum Division), the statement added.

It further noted that pertaining to the uninterrupted fuel supply in the country, cargoes carrying sufficient HSD volumes are already waiting for off-port and will be discharged on their due turn, while other planned cargoes are expected to arrive soon.

Similarly, Motor Gasoline reserves are sufficient to meet the demand of the country, while additional volumes are coming in through planned imports.

Further commenting on this, Dr. Nazir Abbas Zaidi, Secretary-General OCAC said: “Pakistan is an energy deficient country, therefore deficit in fuel supplies is catered through imports. As a result of constantly increasing imports volume and infrastructure constraints, there are challenges at ports owing to congestion/bunching of vessels, etc. However, OCAC is effectively striving to handle these challenges in collaboration with OGRA by suggesting recommendations to ensure that the fuel supplies remain streamlined. Hence, it is vital to avert uncertainty and abnormal buying patterns amidst ambiguous speculations.”

OCAC further reiterated that there is ample inventory of fuel supplies in the country, including cargoes waiting for off-port and other vessels lined up to arrive soon.

"Citizens are requested to buy fuel products as per regular demand and not let ambiguity translate into desperate bulk buying," it said.