Islamabad-Against the mandatory stocks of 20 days oil reserves by Oil Marketing Companies, the country has left with the High Speed Diesel reserves of only seven days.

The total demand of HSD for the month of May was 711013 Metric Tonnes while the refineries product was 435000 Metric Tonnes, a spokesman for the Petroleum Division said here Monday.

There is total deficit of 276013 Metric Tonnes but to meet the deficit the planned import is 394000 Metric Tonnes, said the spokesman. After the arrival of planned import the country will have 112987 Metric Tonnes of HSD.

Spokesperson for Petroleum Division negates the speculation over severe diesel supply in country amid wheat harvesting season in the most of areas of the country. Spokesperson says that presently, country has an ample HSD stocks around 265,000 MTs which are sufficient for seven to ten days demand of entire country.

In order to ensure availability of sufficient stocks of HSD, import was planned higher than deficit. However, due to unavailability of vessels in international market due to COVID-19, the supplies have been delayed by 2 to 3 days. However, sufficient stocks are available with PSO.

The spokesman said that within next five days four vessels carrying around 182000 Metric Tonnes of HSD are arriving at Port Qasim. On May 13 a vessel carrying 42000 MTs of HSD for Hascol/Gas and Oil is arriving port Qasim.

Similarly on May 14, 15 and 17 respectively three vessels of PSO carrying a total of 140000 Metric Tonnes of HSD is arriving at Port Qasim.

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

Meanwhile Oil and Gas Regulatory Authority (OGRA) in a letter to 33 Oil Marketing Companies (OMCs) have asked the OMCs to ensure requisite Stocks of High Speed Diesel (HSD) and Motor Spirit for uninterrupted supply of Petroleum Products at your retail outlets.

It is again reiterated that adequate supply of Petroleum Products at retail outlets especially in the areas of Interior Sindh and Southern Punjab may be ensured to avoid any inconvenience to the customer in the harvesting season and overall country’s situation.

OGRA spokesman when asked that what is the possible actions the regulator can take in case the OMCs failed to obey the directives of maintaining the requisite oil stocks, he said that OGRA’s team will inspect the depots and retails outlets and will impose punishment as per the law.

It is mandatory that the OMCs will maintain a stock of 20 to 21 days of HSD and Petrol. It is worth to mention here that from April 1, the petroleum division had stopped OMCs to import crude oil, petrol, and HSD due to lockdown and low local demand.