+923218400111
ROOM NO 214, 2ND FLOOR, LSE PLAZA, 19-KHYABAN-E-AIWAN-E-IQBAL, LAHORE
accounts@bspl.com.pk

Are you ready to change the game? Find Out More

OGRA directs oil companies to maintain 20-day reserves amid Iran-Israel conflict | The Express Tribune
Home » BUISNESS  »  OGRA directs oil companies to maintain 20-day reserves amid Iran-Israel conflict | The Express Tribune

Listen to article

The Oil and Gas Regulatory Authority (OGRA) has directed all Oil Marketing Companies (OMCs) to maintain fuel reserves to ensure uninterrupted supply across the country amid evolving market conditions following the Iran-Israel conflict.

In a statement issued on Saturday, OGRA spokesperson Imran Ghaznavi said all OMCs have been instructed to maintain the mandatory 20-day fuel reserves as required under their licensing terms.

"OGRA further emphasises that companies must fully comply with these conditions to ensure smooth fuel supply nationwide," the statement said.

Ghaznavi added that Pakistan currently has sufficient petroleum reserves to meet domestic demand.

"There are adequate petroleum stocks in the country to meet present consumption levels. OGRA is actively monitoring the situation and ensuring strict oversight to uphold national energy security," he said.

He further noted that proactive steps are being taken to address future energy requirements and respond to shifting market dynamics.

"OGRA remains committed to ensuring uninterrupted energy supply and strengthening national energy security," Ghaznavi affirmed.

Iran–Israel Conflict

The recent conflict between Iran and Israel has escalated into the most intense direct confrontation in their history, as both countries exchange large-scale strikes.

Israel launched “Operation Rising Lion” with a surprise attack on June 13, targeting Iranian military leadership, nuclear facilities, and ballistic missile production sites.

The operation resulted in the deaths of hundreds, including top Iranian commanders and nuclear scientists.

Also Read : Trump eyes Iran-Israel peace via Putin

In retaliation, Iran launched waves of drones and missiles at Israeli targets over the weekend, hitting both military bases and civilian infrastructure.

Iranian authorities say that over 400 civilians — including women and children — have been killed in Israeli assaults.

Among those killed in the Israeli strikes were the intelligence chief of Iran’s Islamic Revolutionary Guard Corps (IRGC) and two senior generals alongside Iran's eight nuclear scientists.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Public Notice

Beware of Fraudulent Schemes Misusing the Name of Bridge Securities Pvt. Ltd

Fraudulent individuals and entities may misuse the identity of Bridge Securities Pvt. Ltd or falsely impersonate its directors or executives to deceive the public through unauthorized communication channels, fake profiles, and misleading information.

We strongly advise our clients and the general public to exercise caution and remain vigilant against such scams.

Please note:

  • Bridge Securities Pvt. Ltd has no affiliation with any unofficial pages, profiles, apps, or WhatsApp numbers.
  • We never request OTPs, personal information, funds, or investments through unofficial platforms.
  • All communication from Bridge Securities Pvt. Ltd is conducted only through our official phone numbers, website, email, social media handles through official representatives.

For your safety:

  • Always verify the authenticity of any communication before engaging.
  • Make sure that you are dealing with licensed entities and registered professionals by conducting research from the PSX and SECP websites.
  • Regularly visit SECP, PSX, CDC, and NCCPL websites for authentic updates.
  • Transact only through official banking channels linked to licensed brokers.
  • In case of any ambiguity it is recommended to contact and verify the information through our official representatives.

Official Channels:

  • Website: www.bspl.com.pk
  • Email: accounts@bspl.com.pk
  • Social Media: Not Available
  • Helpline: 0321-8400111

Shareholder Agahi – Your Gateway to Shareholder Insights

Pakistan’s first comprehensive platform, developed by PICG and CDC, dedicated to enhancing shareholder awareness and empowerment.

Discover Shareholder Agahi- Your one-stop hub for real-time shareholder updates, rights, and governance insights. Empower yourself with accurate information.Explore the portal: https://www.shareholderagahi.com/ Watch the tutorial (Urdu): https://www.youtube.com/watch?v=O7iCRiKJ37A

This will close in 20 seconds