The existing Petrol and Diesel Storage Capacity of Private and Public Sector Petroleum Companies in Pakistan is as follows:
- Petrol = 662,198 Metric Tons
- Diesel = 907,178 Metric Tons
As per prevailing policy of the government and licensing conditions of Oil and Gas Regulatory Authority (OGRA), every Oil Marketing Company (OMC) is required to construct/develop minimum storage of 20 days of its proposed sales, and to ensure to maintain the requisite stocks to meet its requirements across the Country.
Accordingly, OMCs have added 343,774 tons of Petrol and Diesel Storage during last three years in the Country without any government funds.
Presently, there is no proposal under consideration of the federal government to establish Liquefied Natural Gas (LNG) import terminal and regasification facilities at Gwadar Port.
However, various private sector players are working for the development of LNG Virtual Pipeline in Gwadar and Karachi wherein LNG will be supplied to the consumers through tankers rather than pipeline.
The following is the details of the net profit earned by the Public Sector Petroleum Companies operating in Pakistan during the year 2020-21:
|Name of Company||Profit earned|
|Pakistan State Oil Company Limited (PSOCL)||Rs 29.14 billion|
|Oil & Gas Development Company Limited (OGCL)||Rs 91.534 billion|
|Pakistan Petroleum Limited (PPL)||Rs 52.4 billion|
Note: The above data/info was shared with the Senate on August 5, 2022 by the Minister for Energy (Petroleum Division) Musadik Masood Malik.