Pakistan is facing a looming fuel crisis with crude oil reserves for just 11 days and LPG stocks for nine days. Supply disruptions due to the West Asia conflict have impacted imports, prompting talks with Iran and emergency measures to manage shortages
The country is likely to face a severe shortage of LPG after April 14 due to disruptions in supply. Representational image. File pic
Amid the West Asia conflict, the global LPG supply has been severely disrupted. The LPG crisis has also hit Pakistan hard as the country is now left with limited petroleum reserves, with crude oil stocks sufficient for just 11 days, news agency IANS reported.
The limited stock availability of crude oil and LPG has raised concerns over energy security amid disruptions caused by the ongoing Middle East conflict.
Briefing the Senate Standing Committee on Petroleum, the Secretary of Petroleum said, “The country currently has diesel reserves for 21 days, petrol for 27 days, liquefied petroleum gas (LPG) for nine days and jet fuel for 14 days."
The official further added that nearly 70 per cent of Pakistan’s petroleum imports come from the Middle East, and the ongoing conflict has disrupted key shipping routes and supply chains.
West Asia conflict: Pakistan in talks with Iran for oil shipments
Amid the ongoing crisis, Pakistan is reportedly in talks with Iran to secure permission for oil shipments through the Strait of Hormuz, which could allow four vessels to transport crude cargoes if approved.
Meanwhile, officials have warned of a potential gas crisis, with the country likely to face a severe shortage after April 14 due to disruptions in liquefied natural gas (LNG) supplies, IANS reported.
Of the eight LNG cargoes expected in March, only two reached Pakistan, and several shipments scheduled for April may also be affected.
The conflict has led to a sharp rise in global oil prices, with high-speed diesel prices increasing significantly and petrol costs also witnessing a steep jump.
While the shipment timelines have been impacted severely, deliveries via the Red Sea are now taking nearly 12 days compared to the usual four to five days.
Authorities are considering measures to prioritise gas supply for domestic consumers while reducing supply to industries and commercial users to manage shortages.
Pakistan government to provide Rs 23 billion subsidy amid crisis
In a relief measure, the government has decided to provide a subsidy of Rs 23 billion to around 30 million motorcycle and rickshaw owners, funded through savings from austerity measures.
The government has initiated daily reviews of petroleum stocks to closely monitor the situation.
The country currently has adequate fuel availability for March, with arrangements in place to ensure supplies through mid-April, officials said.
(With inputs from IANS)
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