Pakistan importing 235,000 tonnes diesel to deal with crisis
Pakistan is importing 235,000 tonnes of high speed diesel after its oil reserves fell to an all-time low, leaving the country with stocks of major petroleum products that are sufficient for only four to six days.
By PTI |
ISLAMABAD: Pakistan on Tuesday said it was importing 235,000 tonnes of high speed diesel after its oil reserves fell to an all-time low, leaving the country with stocks of major petroleum products that are sufficient for only four to six days.
Under standard operating procedures, the government and its companies are required to maintain minimum stocks of all petroleum products for 21 days at all times to cope with any eventuality.
The current situation has arisen despite the petroleum ministry informing the government about the fall in oil reserves since late October, the influential Dawn newspaper quoted sources as saying.
The current high speed diesel stocks are around 125,457 tonnes, sufficient to meet requirements for six days at the average need of about 22,000 tonnes a day. Pakistan has the capacity to store diesel for 39 days and the current stocks are about 19 per cent of the total capacity, the report said.
The Oil Companies Advisory Committee (OCAC) announced that five vessels carrying 235,000 tonnes of high speed diesel would arrive in the remaining period of December to improve strategic stocks, state-run APP news agency reported.
The arrival of the fresh stocks of diesel will take reserves to "a sufficient level".
OCAC also said the fluctuation of stock levels is a "normal phenomenon" linked to seasonal sales and other operational factors.
Under standard operating procedures, the government and its companies are required to maintain minimum stocks of all petroleum products for 21 days at all times to cope with any eventuality.
The current situation has arisen despite the petroleum ministry informing the government about the fall in oil reserves since late October, the influential Dawn newspaper quoted sources as saying.
The current high speed diesel stocks are around 125,457 tonnes, sufficient to meet requirements for six days at the average need of about 22,000 tonnes a day. Pakistan has the capacity to store diesel for 39 days and the current stocks are about 19 per cent of the total capacity, the report said.
The Oil Companies Advisory Committee (OCAC) announced that five vessels carrying 235,000 tonnes of high speed diesel would arrive in the remaining period of December to improve strategic stocks, state-run APP news agency reported.
The arrival of the fresh stocks of diesel will take reserves to "a sufficient level".
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OCAC also said the fluctuation of stock levels is a "normal phenomenon" linked to seasonal sales and other operational factors.
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