Pakistan has enough fuel stocks for a month, officials assure

Pakistan has sufficient crude oil and petroleum product stocks to meet domestic demand for at least a month, officials have said, seeking to calm concerns over potential supply disruptions amid rising tensions in the Gulf region.

The assurances came after a high-level review meeting co-chaired by Petroleum Minister Ali Pervaiz Malik and Finance Minister Muhammad Aurangzeb to assess the country’s fuel supply situation in light of the escalating U.S.-Iran conflict, which threatens shipping routes near the Strait of Hormuz.

Officials said Pakistan currently holds about one month’s worth of diesel and petrol stocks. However, sources indicated that if any disruption extends beyond two weeks, major refineries could begin to face crude shortages.

Representatives from Pak-Arab Refinery Company and Pakistan Refinery Limited told the meeting they have crude oil inventories sufficient for 10 to 12 days and are expecting one vessel each within a week. Both shipments are scheduled to transit through the Strait of Hormuz, a critical chokepoint for global energy supplies.

Any delay in the reopening or secure passage through the strait could halt crude arrivals and strain refinery operations, officials said.

'No reason to panic'

Despite the risks, authorities emphasized there is no immediate cause for alarm.

“Pakistan has enough crude and petroleum products to meet domestic demand, and there is no reason for panic,” an official statement said after the meeting.

The session was attended by senior officials from the Petroleum Division, the governor of the State Bank of Pakistan, the member (oil) of the Oil and Gas Regulatory Authority, and executives from major energy firms including Cnergyico, National Refinery Limited, Pakistan State Oil and the Oil Companies Advisory Council.

The central bank governor assured participants that oil-related payments would continue uninterrupted to facilitate imports.

Pakistan Refinery Limited and Pak-Arab Refinery Company reported minor logistical challenges in procuring crude but said current stocks are adequate to sustain operations in the short term.

Cnergyico said it has one million barrels of U.S. crude oil available at its port, with an additional two million barrels expected in March through routes that bypass the Strait of Hormuz. National Refinery Limited said it is sourcing crude from Fujairah and does not anticipate disruption.

Oil marketing companies told the meeting that supply chains remain stable and no shortages are expected.

Authorities said they are closely monitoring developments in the Gulf and will take necessary measures to ensure energy security if the situation deteriorates.