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Amid escalating tensions from the Iran-Israel war, Pakistan’s federal government has ordered emergency fuel imports and mandated oil marketing companies to maintain at least 20 days’ fuel reserves. The Oil and Gas Regulatory Authority (Ogra) issued directives to ensure compliance.
An oil vessel initially scheduled for July 6 will now arrive on June 26 with 70 million litres of petrol, while Pakistan State Oil (PSO) announced an additional 140 million litres will be available by July 1. Officials also stated that emergency tenders may be issued if the conflict worsens.
Pakistan National Shipping Corporation (PNSC) warned that disruptions in Gulf shipping routes could severely impact the country’s fuel supply. Freight costs have surged 15%, with trip rates now between $1.1 to $1.2 million, up from $900,000. Insurance premiums per voyage have risen from $15,000 to $22,000.
Operational challenges in the Strait of Hormuz are increasing, with GPS signal disruptions causing delays—one PNSC vessel recently faced a two-hour delay due to a GPS outage.
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