OGRA suspends license of six oil companies

The Oil and Gas Regulatory Authority (OGRA) of Pakistan recently suspended the licenses of six oil marketing companies, Admore Gas, Asakar Oil Services, Bakri Trading, Hascol Petroleum, Overseas Oil Trading and Byco Petroleum Pakistan.  The six companies were accused of not maintaining enough stock of gasoline.  The country’s guidelines require that all oil marketing companies maintain gasoline equal to 14 days of consumption.  Larger companies were required to maintain stocks up to 20 days of consumption.  The lack of gasoline supplies required the country to import fuel to meet demand.  (June 28, 2011)