Govt reviews oil stocks, explores conservation measures

A committee constituted by the prime minister to monitor petrol prices and energy supplies reviewed the country’s petroleum stock position on Monday and said fuel supplies remain stable despite volatility in global markets.

The meeting of the Committee to Monitor Petrol Prices in the Wake of the Emerging Situation in the Region was chaired by Finance Minister Muhammad Aurangzeb and attended by key federal ministers and senior officials, according to a statement issued by the Finance Division of Pakistan.

The committee reviewed developments in the regional and global energy markets and assessed Pakistan’s preparedness in light of the evolving geopolitical situation.

Officials briefed participants on the current inventory of crude oil and refined petroleum products, ongoing import arrangements and supply chain logistics, including cargoes already en route and additional shipments being arranged to bolster national reserves.

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The committee noted that petroleum product stocks in the country remain at comfortable levels and supply chains are functioning smoothly, with multiple cargoes and import arrangements in place to ensure continuity of supply in the coming weeks.

Members were also informed about recent volatility in global crude and refined petroleum product prices amid geopolitical developments.

The committee reviewed international market indicators, including benchmark crude movements and refined product price trends, and assessed possible scenarios for global energy markets.

The government, officials said, is closely monitoring international price movements and undertaking scenario planning to safeguard domestic energy security and economic stability.

Read More: Govt says petroleum stocks comfortable amid regional uncertainty

The meeting also reviewed logistical arrangements related to crude imports, refinery operations and maritime transportation, including coordination with international suppliers and shipping companies.

Authorities briefed the committee on steps being taken to ensure uninterrupted refinery operations and smooth functioning of supply infrastructure.

The committee stressed maintaining optimal refinery throughput and effective coordination among stakeholders to ensure adequate fuel availability nationwide.

Participants were also presented with options for energy conservation and demand management aimed at reducing pressure on fuel imports during periods of global market volatility.

The proposals included measures related to efficient fuel consumption, operational adjustments and conservation initiatives in the public sector.

The committee also took note of operational issues raised by stakeholders from the aviation and logistics sectors and directed relevant authorities to review the matter and present a detailed assessment at the next meeting.

The meeting further reviewed coordination mechanisms with provincial governments to monitor petroleum product availability and prevent supply disruptions.

Provinces briefed the committee on enforcement actions and inspections at petrol pumps, while federal authorities shared updates on the development of an integrated monitoring dashboard to improve real-time visibility of stock levels and retail supply conditions.

Chairing the meeting, Aurangzeb said the government’s top priority is ensuring uninterrupted availability of petroleum products across the country.

He said that despite heightened volatility in global energy markets, Pakistan’s supply position remains stable due to proactive planning and coordination among relevant ministries.

The finance minister added that the committee will continue to monitor developments in international energy markets, domestic stock levels and supply chain dynamics on a daily basis to ensure timely policy responses.