PD arranges sufficient fuel stock as per power sector's demand for July.

ISLAMABAD -- The Petroleum Division (PD), striving hard to ensure the provision of the required quantity of Residual Fuel Oil (RFO) for meeting the country's electricity generation needs, has arranged sufficient stock of the commodity as per the demand placed by the power sector for July.

'Existing RFO stocks available with the oil industry (OMCs [Oil Marketing Companies] and Refineries) as of 30/6/2022 are 277,000 MT [Metric Ton], whereas two RFO cargoes of 130,000MT are off the port at present. Import of around 180,000MT is planned for July 2022. Thus, the above arrangements are sufficient to meet the demand of 436,000 MT placed by Power Division during July 2022,' official sources privy to petroleum sector development told reporter.

They said the PD was making all-out efforts to provide the RFO for electricity generation with the timely placement of orders and advance payments by respective power producing plants.

The sources said Pakistan LNG Limited (LNG) had also floated a new tender for procurement of 10 Liquefied Natural Gas cargoes to get deliveries during July and September aimed at meeting the country's energy needs smoothly.

They said the Pakistan State Oil (PSO) and PLL were engaged in the import of LNG in the country, adding that 'under the executed LNG supply contracts with Qatar-Petroleum/Qatar Energy, the PSO imports 5+2 LNG cargoes where the PLL is left with one LNG supply contract with ENI Italy as the other i.e. M/s Gunvor prematurely terminated the contract in April 2022 following a series of consistent default in the supply of cargoes since...

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