Oil crisis imminent in Pakistan

The worst oil crisis in the country is imminent if Pakistan Refinery Ltd. (PRL) is compelled to suspend operations till September 15 due to non-payment of dues by Pakistan State Oil (PSO), reports the Business Recorder. The country’s largest oil refinery, Pakistan Arab Refinery (Parco) has suspended its operations due to floods. The Ministry of Petroleum has taken up the issue with the Ministry of Water and Power in an attempt to clear PSO dues, which would enable it to make payments to PRL and other refineries. General Manager of Supply Aftab Ahmad confirmed that PRL management has requested Rs4 billion (US$46.75 million) immediately to pay for crude oil imports. (September 7, 2010)