Pakistan says petroleum stocks comfortable after committee review

2026-03-24 - 16:51

A meeting of the Committee to Monitor Petrol Prices was held today, chaired by the Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, following the Eid holidays, to review the energy supply situation and assess developments in global oil and gas markets amid evolving geopolitical conditions. The Committee undertook a forward-looking assessment of the national petroleum supply outlook, reviewing stock availability of crude oil and refined petroleum products across the energy value chain. The committee was told that petroleum inventories, including crude oil and refined products, are at comfortable levels. Supply lines from import terminals to refineries, storage installations, and retail outlets were reported to be operating in a stable and orderly manner, ensuring continuity of supply across the country. The committee was also briefed on incoming fuel shipments, with cargoes for March and April already arranged and additional deliveries planned to strengthen reserves. Refineries across the country are operating at regular capacity, with efforts underway to maintain efficient processing levels. A detailed review of national stocks and international energy market conditions was presented, highlighting notable movements in global benchmarks. The Committee assessed emerging global price signals and their transmission implications, noting that the Government is actively evaluating price divergence between international and domestic markets to support balanced and timely policy calibration. The meeting placed particular emphasis on operational readiness across the domestic energy chain. The Committee underscored that refineries must continue operating at optimal throughput levels to sustain supply stability and reduce systemic vulnerabilities. The meeting also included a detailed assessment of international energy market trends and geopolitical developments impacting global supply dynamics. The Committee also reviewed ongoing government-to-government (G2G) engagements aimed at strengthening supply resilience and mitigating risks. Chairing the meeting, the Finance Minister, Senator Muhammad Aurangzeb underscored that proactive planning, diversified procurement strategies, and close coordination among stakeholders have enabled Pakistan to maintain a stable domestic supply position despite global volatility. He directed all relevant authorities to continue vigilant monitoring of international developments, stock levels, and supply chain dynamics to ensure timely and coordinated policy responses. The Finance Minister reiterated that ensuring the uninterrupted availability of petroleum products remains the Government’s foremost priority.