OGRA Orders Emergency Fuel Reserves as Middle East Conflict Disrupts Global Oil Markets
By Shahzad Paracha :
The Oil and Gas Regulatory Authority (OGRA) has issued an urgent directive to all refineries and fuel companies to maintain sufficient petroleum stocks as escalating military conflict between US-Israeli forces and Iran threatens to destabilize global energy supplies.
The Oil and Gas Regulatory Authority released a notification Saturday ordering stakeholders nationwide to secure adequate reserves of crude oil, petrol, high-speed diesel, and liquefied petroleum gas. The directive aims to prevent any supply disruption stemming from the deteriorating security situation in the Gulf region.
Regional Conflict Intensifies
The order follows joint US-Israel strikes on Iran earlier Saturday that pushed the Middle East into renewed military confrontation. Iran responded with retaliatory attacks targeting Israel and American military installations across the region, with explosions reported in Kuwait, the United Arab Emirates, Bahrain, and Qatar.
The escalation has effectively ended hopes for diplomatic resolution to long-standing Western efforts to curb Iran’s nuclear program, despite Tehran’s repeated statements that it does not pursue nuclear weapons.
Current Stock Levels
Despite the urgency of the OGRA directive, officials have moved to reassure the public about current supplies. A spokesperson confirmed that Pakistan holds sufficient petroleum stocks, with approximately 28 days of petrol and diesel reserves available.
This exceeds the mandatory requirement for oil marketing companies to maintain at least 21 days of fuel reserves. Officials say companies are complying with this obligation, providing a safety cushion in case of temporary supply disruptions.
Import Vulnerabilities
Pakistan relies heavily on imports from Middle Eastern countries to meet its energy needs, with a significant portion of petroleum products coming from the Gulf region. Approximately one-fifth of global oil consumption passes through the Strait of Hormuz daily, with most destined for Asian markets including Pakistan.
Authorities acknowledge that any prolonged instability could influence supply chains and global oil prices. OGRA officials have stated they are closely monitoring global developments, though they caution it is too early to determine the full impact of the conflict.
The regulator has demanded that all companies report their actions on a priority basis to ensure coordinated preparedness across the energy sector.
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