Govt Orders Oil Firms to Maintain 20-Day Fuel Reserve As US Enters War Against Iran

In light of escalating regional tensions, the Oil & Gas Regulatory Authority (OGRA) has issued an emergency directive to all Oil Marketing Companies (OMCs) to maintain a minimum of 20 days’ stock of petroleum products at their depots and installations. This comes as the United States has joined Israel in its war against Iran. The escalation has threatened the oil supply in the region. The directive, based on Rule 37 of the Pakistan Oil (Refining, Blending, Transportation, Storage, and Marketing) Rules, 2016, emphasizes that OMCs must ensure uninterrupted fuel supply across the country. The Ministry referred to its earlier letter dated June 16, 2020, in enforcing compliance with this rule. Officials stressed the need for vigilance and strict adherence to the 20-day stock requirement to avoid any potential disruption in the supply of petroleum, oil, and lubricants (POL), given the current regional situation.