Sufficient diesel stock available in country: Petroleum Division

ISLAMABAD: The Ministry of Energy’s Petroleum Division on Monday clarified that the country has adequate diesel stock to meet its seven to ten-day needs.

A statement was issued by Petroleum Division following reports speculating on a shortage in the country’s diesel supply amid wheat harvesting season in most areas of the country.

A spokesman for the Petroleum Division in a press release said an ample stock of HSD (High-Speed Diesel) around 265,000 Metric Tons (MTs) is available in the country, which are enough for seven to ten days demand of the entire country.

The statement further said the diesel demand was 711,013 MTs, which was being met through local production and imports.

Oil refineries were producing 435,000 MTs HSD, while 394,000 MTs diesel was being imported to meet the country’s needs during the current month, the statement said.

In order to make sure the availability of sufficient stocks of HSD, the statement said the import was planned ‘higher than a deficit.’

The spokesman, however, said due to the non-availability of vessels in the international market caused by the COVID-19 outbreak, the supplies had been delayed by two to three days.

He said four diesel vessels carrying around 182,000 MTs fuel were scheduled to reach at the Port Qasim from 13-17 May.

Giving the break-up, he said a vessel – Hafnia Phonex – would bring 42,000 MTs diesel on May 13 for Hascol Oil Marketing Company, while three vessels, Junior G, Maersk Teesport and Helene would arrive carrying 60,000 MTs, 40,000 MTs and 40,000 MTs diesel on May 14, 15 and 17 respectively for the PSO.

“Petroleum Division is vigorously monitoring the situation and has directed all refineries to enhance their production.

Similarly, OMCs (oil marketing companies) have also been directed to move the product at high consumption depots/locations. Accordingly, the situation will get normalized, soon,” the statement read.

The ministry in its statement said, “Therefore, the general public need not engage in binge buying as sufficient stocks of petroleum products are available in the country.”

It also noted that it was working round the clock to facilitate the public through dedicated teams to ensure the supply and availability of petroleum products in Pakistan.