OGRA imposes Rs40 mln fine on six oil marketing companies for fuel crisis

ISLAMABAD (92 News) – The Oil and Gas Regulatory Authority (OGRA) has imposed fine amounting to 40 million rupees on six Oil Marketing Companies (OMCs) for not maintaining the required fuel stocks as per terms and conditions of the licences awarded to them. In a press release, OGRA spokesman Imran Ghaznavi said fine of five million rupees each has been imposed on Attock Petroleum Limited, Puma, Gas & Oil Pakistan Limited and Hascol, and 10 million rupees each on Shell Pakistan and Total Parco Pakistan Limited, He said all oil marketing companies have been directed to ensure regular supply of petroleum products to their retail outlets, otherwise fine would be imposed on them as per the law. The authority warned OMCs of further penalties if they could not improve the supplies at their outlets. The Oil Companies Advisory Council, an informal body representing the downstream oil industry, declined to comment on the next line of action. Ogra’s decision followed show-cause notices issued on June 3 to the OMCs to explain their position regarding the availability of petroleum products at their retail outlets.