Pakistan allows import of high-speed diesel

Pakistan government has allowed import of 266,000 tons of high-speed diesel (HSD) to fulfill the deficit during November, and replenishment of the depleted stocks.

At the monthly Product Review Meeting for November 2024, attended by industry CEOs and representatives from the Ministry of Petroleum, it was decided to import 266,000 metric tons of HSD to cover the November deficit and replenish stocks.

The Oil and Gas Regulatory Authority (OGRA) countered reports of healthy HSD stocks, highlighting a 21% increase in October sales due to anti-smuggling efforts and the agricultural season. These high sales depleted stocks, leaving enough for only 19 more days.

Since September, OGRA has proactively built up stockpiles in anticipation of the agricultural season, PARCO's scheduled maintenance, and increased demand from anti-smuggling efforts. This buffer has been crucial in maintaining supply continuity and preventing shortages, OGRA noted in a statement.

November is critical due to the agricultural season and a 40-day maintenance shutdown at PARCO, the major supply source.

OGRA continuously reviews the national oil supply chain every 10 to 15 days to make necessary adjustments based on market behavior.