OGRA says, Storage capacity may go up to 600,000 MTs

 In Latest News

The Oil and Gas Regulatory Authority (Ogra) has anticipated upgrade of oil based goods stockpiling limit in the nation to 600,000 metric tons in the following a few years. So as to draw in interest away advancement, Ogra over the most recent three years has allowed 41 licenses for capacity development to intrigued organizations and observed these tasks to guarantee manageable coordinations. These means brought about the expansion of around 288,733 metric tons stockpiling in the framework (oil 102,031 and diesel 186,802) since petroleum emergencies in 2015 and in excess of 600,000 metric huge amounts of capacity is relied upon to be finished inside next 2 to 3 years.

Ogra recognizes the business challenges looked by oil organizations when oil costs are declining, yet has all the earmarks of being in no inclination to acknowledge this as a reason for not consenting to administrative prerequisites. Ogra has made it compulsory for the oil showcasing organizations (OMCs) to improve oil storerooms before applying for promoting licenses.

In December 2018, in general interest for gas flooded complex because of expanded utilization and the circumstance turned out to be progressively basic because of sudden decrease in gas supplies from two gas fields in particular Gambat (PPL) and Kunnar-Pasakhi Deep (KPD) claimed by OGDCL because of condensate stockpiling issue as refineries quit elevating condensate. This condensate issue decreased gas supply by 50 mmcfd, further exacerbating the line pack, in this way bringing about considerably more noteworthy drop in gas weight.

The measure of demurrages paid by Pakistan State Oil (PSO) has expanded multiple times over the most recent five years because of capacity issues. The demurrage charges of PSO have gone up to $20.4 million out of 2017-18 from $2.5 million of every 2013-14. The board of PSO denounced the OMCs for causing demurrages to PSO on import of POL as the greater part of them had no capacity limit.

In January 2015, a commission set up by the leader to explore the 10-day oil emergency which nearly incapacitated the nation faulted nearly the whole oil production network. Around then, the two-part commission involving Zahid Muzaffar and Zafar Masud suggested auxiliary changes in the vitality segment and keeping up over 300,000 tons of fuel stocks consistently to cover no less than 20 days of utilization.

In a report discharged on October 2018, Senate Standing Committee on Petroleum prescribed the Petroleum Division to fuse advancement of capacity limit in the current standards and controls for OMCs.

The parliamentary board's report prescribed that the organizations, which have been allowed temporary licenses, ought to likewise conform to the new proposed permit strategy and the Petroleum Division should audit the approach for conceding permit in the light of the proposals. Ogra ought to entirely screen those approaches under which licenses are conceded to the OMCs. If there should arise an occurrence of infringement, licenses ought to be suspended till the time an OMC satisfies the permitting conditions.

Recommended Posts

Leave a Comment