KARACHI: The Oil and Gas Regulatory Authority (OGRA) has directed Pakistan’s oil refineries to collectively contribute Rs7.1 billion to compensate the Pakistan State Oil (PSO) under an emergency diesel pricing mechanism introduced amid rising regional tensions linked to the Iran–US conflict.
According to an official communication issued by OGRA through the Petroleum Division of the Ministry of Energy, the decision follows a federal cabinet directive aimed at offsetting financial losses arising from increased import premiums and volatility in international fuel prices.
The directive has been issued to major refineries, including Pak-Arab Refinery Limited (PARCO), National Refinery Limited (NRL), Pakistan Refinery Limited (PRL), Cnergyico PK Limited (CPL), and Attock Refinery Limited (ARL).
Under the mechanism, contributions have been calculated based on refinery sales volumes recorded between April 4 and April 10, 2026. PARCO has been assigned the highest share of Rs2.2 billion, followed by NRL with Rs1.82 billion, CPL with Rs1.418 billion, PRL with Rs1.272 billion, and ARL with Rs389 million.
OGRA has instructed the refineries to transfer the allocated amounts directly to PSO. Chief financial officers of the respective companies have also been directed to verify sales data and payment details to ensure compliance with the directive.
Industry officials said the move reflects mounting pressure on Pakistan’s energy supply chain amid global oil market volatility and continued uncertainty in the wider Middle East energy corridor, which has increased import costs and heightened risks of supply disruption.
Story by Tanveer Malik
