PSO defers diesel cargo as availability exceeded the demand

Islamabad: After the availability of diesel in the country has exceeded the overall demand, the Pakistan State Oil has deferred a 55,000-ton diesel cargo scheduled for September. 

According to media reports, due to surplus availability of diesel, Oil and Gas Regulatory Authority (OGRA) meeting held to review or cancel the three diesel cargos scheduled for October.

Given the surplus diesel availability, PSO informed the meeting that it was preparing to revise its cargo plan for December, while also considering a review of diesel imports for October.

Currently, PSO holds 50% of the total stock, amounting to 336,000 metric tons of diesel.

According to an OGRA spokesperson, the diesel cargos planned for December will be canceled if necessary, and the diesel cargos that have already arrived will be stored in bonded storage.