Karachi September 16 2022: Pakistan Refinery Limited informed that the Refinery is running normally, according to the company filling to the exchange.
However, there is an unusual build up of HSD (High Speed Diesel) stock due to reduced upliftment of the same owing to the recent floods and the consequent circumstances; the transportation sector being one of the biggest users of Diesel.
Nonetheless, we are managing the situation and are fully engaged with the Oil Marketing Companies to uplift our stock. Should the situation worsen and God forbid take us towards a temporary closure we will inform the Exchange immediately.
The sale of high speed diesel (HSD) decreased by 26 percent to 496,000 tonnes in the month of August 2022 compared to 670,000 tonnes when compared with the same month last year. Alarmingly, HSD sales in the first two months plunged by 47 percent year on year.
According to the data released by Oil Companies Advisory Council (OCAC) for the month of August, the total sale of petroleum products dropped to 1.5 million tonnes in August 2022 when compared to 1.9 million tonnes in the same month of last year.
