The Oil and Gas Regulatory Authority (OGRA) has announced a delay in the September shipments of oil marketing companies, with an additional three cargoes for October potentially being cancelled.
This decision follows a meeting held earlier today with representatives from refineries and top-performing oil marketing companies.
OGRA spokesperson Imran Ghaznavi confirmed the development in a statement, outlining the key points discussed during the meeting.
The primary agenda was to address ongoing issues concerning refineries and the country's reserves of high-speed diesel.
According to Ghaznavi, the delay affects September cargoes, and the fate of three additional cargoes scheduled for October remains uncertain. He indicated that if necessary, December shipments might also face cancellation.
To manage the situation, cargoes that have already arrived will be placed in bonded storage, effectively removing them from the market by the end of September.
