ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has issued a stern warning to Oil Marketing Companies (OMCs) and refineries, stating that their licences will be suspended if they fail to comply with commitments with it.
This warning was conveyed to the Chief Executive Officers (CEOs) of refineries and over three dozen OMCs, urging strict compliance with commitments made to the oil sector regulator.
According to OGRA, the issue of non-compliance by OMCs in uplifting locally produced fuel and failure by refineries to meet production targets was discussed in detail during the recent Product Review Meeting (PRM). The Authority observed that numerous OMCs did not honor their commitments to procure product from local refineries, as agreed in the PRM.
“This failure to comply with PRM directives is not only disrupting OGRA’s oil supply chain management but is also undermining national energy security and leading to significant revenue losses due to unnecessary imports, which constitutes a violation of the Authority’s directives,” OGRA stated.
After detailed deliberation, OGRA has decided that any OMC failing to uplift local products as per its PRM commitment or failing to maintain the mandatory 20-day stock will be referred for license suspension. Likewise, any refinery producing less than its committed output for three consecutive months will face similar action.
The letter is addressed to Managing Director PSO, CEO, Allied Petroleum, Lahore, MD, Cnergyico PK, Karachi, MD, Oil Industries, Karachi, Chairman, GO, Lahore, CEO, Eco Gasoline, Islamabad, MD, Parco Gunver Ltd., Lahore. CEO, Echo Oil, Islamabad, CEO, APL, Islamabad, CEO, Petro Pakistan, Lahore, MD, WEL, Karachi, CEO, OTO Pakistan, Lahore, CEO, Hascoi, Karachi, CEO, Oilco Petroleum, Lahore, CEO, Taj Gasoline, Karachi, CEO, Benzin, Lahore, MD, Be Energy, Karachi, CEO, My Petroleum, Lahore, MD, Cnergyico PK, Karachi, MD, Askar Oil Services, Lahore, CEO, Puma Energy, Karachi, MD, PARCO-PEARL, Karachi, MD, Vital Petroleum, Lahore, MD, Max-Fuel, Karachi, CEO, Jinn Petroleum, Islamabad, CEO, Kepler, Karachi, CEO, Flow Petroleum, Lahore, MD, Exceed, Islamabad, CEO, Euro Oil, Lahore, CEO, Khyber Petroleum, Lahore, CEO, Fossil Energy, Karachi, CEO, Lucky Petroleum, Karachi, MD, Zoom Marketing, Lahore, CEO, Pure Petroleum, Lahore, CEO, Fast Oil, Karachi, MD, Alhamdali Intl., Lahore, CEO, Horizon Oil, Lahore, CEO, HG Petro, Lahore, CEO, Hi-Tec Lubricant, Lahore, MD, Best Petroleum, Lahore, MD, Al-Noor Petroleum, Karachi, MD, Zoom Petroleum, Lahore, CEO, LaGuardia, Karachi and CEO, The Fuelers, Lahore
Ends
