Against mandatory stocks of 20 days, only 7 days diesel reserves left in country.

Byline: Fawad Yousafzai

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...