All marketing companies must report the LPG stock in their storage and filling plants in metric tons by 9:00am daily
LAHORE:
In light of the situation arising after the Iran-United States conflict, the Oil and Gas Regulatory Authority (OGRA) on Wednesday directed all Liquefied Petroleum Gas (LPG) marketing companies to submit daily details of their LPG stock.
OGRA has warned that strict action will be taken against any sale or hoarding of LPG above the prescribed ceiling price.
According to the details, to maintain the LPG supply chain in the country and protect consumers from exploitation by the LPG mafia, OGRA has instructed all LPG marketing companies that, given the current emergency situation, they must report the LPG stock in their storage and filling plants in metric tons by 9:00am daily. This report must also include LPG in transit or in vehicles (“On Wheels”).
The information should be submitted via email in the specified format, detailing:
Furthermore, companies are directed to ensure an adequate supply of LPG in storage and filling plants for onward distribution at OGRA’s prescribed prices.
Read: Govt kicks in energy contingency plan
OGRA warned that if any LPG plant is found hoarding LPG to earn illegal profits — including EVTL and SSGCL terminals — strict action will be taken under relevant rules and regulations, based on field team reports or complaints.
Abdul Raheem, Executive Director LPG at OGRA, has formally communicated these instructions in writing to all LPG marketing companies.
These directives come after Qatar told Pakistan on Tuesday that it may not be able to provide LNG cargoes due to the ongoing Gulf war.
Qatar halted its production of liquefied natural gas on Monday, as Iran continued to strike Gulf countries in retaliation for Israeli and US strikes against it, prompting precautionary shutdowns of oil and gas facilities across the Middle East. Qatari LNG production accounts for about 20% of global supply and plays a major role in balancing demand in Asian and European markets.
Iran has broadened the scope of the war after it was attacked by the United States and Israel. Iran is now hitting the energy facilities of those Gulf countries that have provided military bases to the US.
A ministerial committee responsible for ensuring smooth supplies of petroleum products has been empowered to take all necessary decisions to maintain seamless energy supplies.
Government officials and company executives in Japan, Taiwan, Bangladesh and Pakistan said they did not expect an immediate impact as some cargoes due this month had already arrived, but they would diversify their import sources and buy liquefied natural gas (LNG) from the spot market if the war drags on.
Crude oil prices jumped above $83 per barrel on Tuesday, which would carry huge implications for consumers as well as the current account deficit. Owing to limited supplies, LNG prices are also on the rise, making it difficult for the government to book cargoes from alternative routes.
With additional input from Reuters
