Pakistan to boost gasoline imports

Closures at three of Pakistan’s main refineries, in addition to low inventory levels at the country’s oil refineries, will boost gasoline imports to 250,000 metric tons, up 200,000 metric tons over the typical monthly amount of gasoline imports.  An official from Pakistan’s petroleum ministry said, “The government has asked Pakistan State Oil (PSO) to speed up the process of importing gasoline to avert a fuel shortage crisis, wherein northern parts of the country are affected the most.” Pakistan’s continuing circular debt crisis has often affected PSO’s ability to pay for imports.  In response to the fuel shortage, the petroleum ministry has raised the required levels of fuel stocks oil marketing companies must maintain.  The companies must meet the ministry’s requirements or face heavy penalties or even the cancellation of oil licenses.  (June 16, 2011)