Pakistan

Report finds 9 Oil Marketing companies in crisis

Report finds nine OMCs involved in crisis
Ali Ahmed June 18, 2020

An inquiry report into the country's petrol crisis has blamed nine Oil Marketing Companies (OMCs) for the ongoing crisis.

As per details, the report said that nine OMCs had deliberately created a petrol crisis. Despite the presence of petrol in storage, the supply of petrol was restricted from June 1.

The report also stated that these nine OMCs had formed a nexus to create a petrol crisis, while private companies had built anti-regulatory infrastructure to store petrol. An accident can happen due to non-compliance with standards.

The inquiry committee has recommended stern action against the companies causing the petrol crisis. It was further learned that the report of the inquiry committee on the petrol crisis would be submitted to Prime Minister Imran Khan.

Earlier, the Oil and Gas Regulatory Authority (OGRA) had fined six OMCs with Rs40 million over violation of the Pakistan Oil (Refining, blending, transportation, storage, and marketing) Rules 2016. Shell Pakistan and Total Parco were each fined Rs10 million, while Attock Petroleum, Puma, Gas, and Oil Pakistan and Hascol were imposed a penalty of Rs5 million each. Three show-cause notices were also issued to the OMCs, including Byco and BE Energy.

https://www.brecorder.com/news/1005272/petrol-shortage-report-finds-nine-omcs-involved-in-crisis

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