Govt, PSO explore measures to bolster strategic reserves amid global fuel volatility

Pakistan is weighing measures to strengthen strategic fuel reserves and diversify its supplies as volatile global fuel prices and disruptions to key maritime corridors raise risks to the country’s energy security.

The development came during Federal Minister for Petroleum, Ali Pervaiz Malik, visit to PSO’s head office for high-level strategic and operational deliberations. During the meeting, discussions addressed the evolving international environment, including volatile global fuel prices and disruptions to key maritime corridors, PSO said in a statement on Friday.

Malik and PSO leadership explored a coordinated set of measures to safeguard the domestic market, including proactive international procurement, long-term diversification of supply sources, and the strengthening of strategic buffer reserves, the statement read.

PSO Chief Executive Officer, Jawwad Ahmed Cheema, briefed the delegation on PSO’s financial results, recent operational milestones and plans for the years ahead.

The minister reviewed the company’s work on energy security and retail modernisation, and commended PSO for maintaining an uninterrupted nationwide fuel supply chain amid complex geopolitical headwinds.

Responding to the operational updates, Malik assured PSO of the government’s full support in fostering a balanced energy ecosystem that places consumer interest and economic stability at its core.

He reaffirmed the government’s commitment to expanding storage infrastructure, accelerating digitisation and automation, enhancing supply chain resilience, and improving the customer experience.

Malik emphasised that all sector stakeholders must work together under a shared vision to build a modern, resilient energy sector for Pakistan.

“The visit reflects the Government of Pakistan’s sustained commitment to strengthening national energy readiness at a time of heightened global uncertainty, and PSO’s central role in securing the country’s fuel supply,” said PSO.

Days ago, the government launched a feasibility study for Strategic Petroleum Reserves with Wood Mackenzie on August 25, citing the Strait of Hormuz crisis and the need to strengthen buffers against supply disruptions.