All marketing companies must report the stock of LPG in their storage and filling plants in metric tonnes by 9:00 a.m. daily.
LAHORE:
In light of the situation arising from the Iran-US conflict, the Oil and Gas Regulatory Authority (OGRA) on Wednesday ordered all liquefied petroleum gas (LPG) marketing companies to submit details of their LPG stocks on a daily basis.
The OGRA warned that strict action would be taken against any sale or hoarding of LPG above the prescribed ceiling price.
According to details, to maintain the LPG supply chain in the country and protect consumers from exploitation by the LPG mafia, OGRA has directed all LPG marketing companies that in view of the current emergency situation, they must declare the stock of LPG in their storage and filling plants in metric tonnes every day at 9:00 am. This report must also include LPG in transit or in vehicles (“On Wheels”).
Information must be submitted by email in the specified format, detailing:
Additionally, companies are required to ensure adequate supply of LPG at storage and filling plants for further distribution at prices prescribed by OGRA.
Read: The government launches an energy emergency plan
OGRA warned that if any LPG plant hoarded LPG to make illegal profits – including EVTL and SSGCL terminals – strict action would be taken in accordance with existing rules and regulations, based on reports or complaints from field teams.
Abdul Raheem, Executive Director LPG at OGRA, officially communicated these instructions in writing to all LPG marketing companies.
The directives come after Qatar told Pakistan on Tuesday that it may not be able to supply LNG cargoes due to the ongoing Gulf War.
Qatar halted its production of liquefied natural gas on Monday, as Iran continues to strike Gulf countries in retaliation for Israeli and US strikes against it, prompting preemptive shutdowns of oil and gas facilities across the Middle East. Qatari LNG production represents around 20% of global supply and plays a major role in balancing demand in Asian and European markets.
Iran expanded the scope of the war after being attacked by the United States and Israel. Iran is now targeting energy facilities in Gulf countries that have provided military bases to the United States.
A ministerial committee tasked with ensuring smooth supply of petroleum products has been empowered to take all necessary decisions to maintain smooth energy supply.
Government officials and business leaders in Japan, Taiwan, Bangladesh and Pakistan said they did not expect an immediate impact since some shipments expected this month had already arrived, but that they would diversify their import sources and buy liquefied natural gas (LNG) on the spot market if the war drags on.
Crude oil prices surged above $83 a barrel on Tuesday, which would have huge consequences for consumers as well as the current account deficit. Due to limited supply, LNG prices are also rising, making it difficult for the government to book cargoes from alternative routes.
With additional input from Reuters
