OGRA Secures Rs. 4.5 Billion Investment From Multiple Companies

According to the recently issued Annual Report of Oil and Gas Regulatory Authority (OGRA) for 2018-19, the regulator issued 9 provisional licenses to different Oil Marketing Companies (OMCs) to build storage facilities in Pakistan, securing an investment of Rs. 4.5 billion in oil infrastructure over the next 3 years.

OGRA had imposed fines of Rs. 64.57 million on 447 oil depots and petrol pumps and issued 182 show-cause notices for overcharging, less filling, and substandard quality.


ALSO READ

Here’s Everything You Need to Know About Samsung Galaxy Note 20 [Leaks]


To ensure the supply of top quality petroleum products, OGRA in tandem with the Hydrocarbon Development Institute of Pakistan (HDIP), carried out 460 quality checks of imported energy products and 725 quality checks of imported non-energy products.

OGRA also registered and addressed 663 complaints received against different oil depots and petrol pumps under the ‘Clean and Green Pakistan’ initiative.

Licenses to New and Existing OMCs

OGRA authorized 6 OMCs to start the marketing of petroleum products after inspecting their oil storage facilities to grant permission.

Two of the OMCs are based in Sindh while the remaining are in Punjab. LaGuardia Petroleum (Pvt) Limited and Taj Gasoline (Pvt) Limited are headquartered in Sindh while Oil Industries Pakistan (Pvt) Limited, Euro Oil (Pvt) Limited, Flow Petroleum (Pvt) Limited, and Hi-Tech Lubricants Limited are Punjab-based OMCs.


ALSO READ

MIT Engineers Make Cheap & Reusable N-95 Grade Mask


According to the report, LaGuardia developed its oil storage facility at Daulatpur and Taj Gasoline at Shikarpur. Oil Industries, Euro Oil, and Hi-Tech Lubricants developed their oil storage facilities at Sahiwal while Flow Petroleum set up its storage facility at Attock.

OGRA also permitted Hascol Petroleum Limited to build new oil storage facilities at Kotlajam and Shikarpur, Be Energy Limited at Machike, Attock Petroleum Limited at Sahiwal, Total Parco Pakistan Limited at Shikarpur, Gas and Oil Pakistan Limited at Rahim Yar Khan and Hub, and Jinn Petroleum at Hub.

The authority approved a new oil refinery worth $500 million at Khushalgarh, KP. Named Khyber Oil Refinery, the new refinery will be completed in 5 years and will have a production capacity of 20,000 barrels per day.

Moreover, OGRA granted 11 licenses to Lubricant Marketing Companies (LMCs), allowing them to import lube oil in Pakistan. The regulator also issued 11 licenses for the construction of Lube Oil Blending Plants.



close
>