Govt, PSO discuss plans to strengthen strategic fuel reserves

Pakistan is considering measures to enhance its strategic fuel reserves and diversify supply sources as volatile global oil prices and disruptions along key maritime routes raise concerns over the country’s energy security.

 

The issue was discussed during Federal Petroleum Minister Ali Pervaiz Malik’s visit to the head office of Pakistan State Oil (PSO), where he held strategic and operational discussions with the company’s senior management.

 

According to PSO, the meeting focused on measures to protect domestic fuel supplies, including proactive international procurement, diversifying supply sources over the long term and building stronger strategic buffer stocks.

 

PSO CEO Jawwad Ahmed Cheema briefed the minister and his delegation on the company’s financial performance, recent operational developments and future plans.

 

Malik reviewed PSO’s initiatives related to energy security and retail modernisation, while appreciating the company’s efforts to maintain an uninterrupted fuel supply across the country despite geopolitical challenges.

 

The petroleum minister assured PSO of the government’s support in developing a balanced energy sector focused on consumer interests and economic stability.

 

He also reiterated the government’s plans to expand storage capacity, accelerate digitisation and automation, strengthen supply-chain resilience and improve customer services.

 

Malik stressed the need for greater coordination among industry stakeholders to develop a more modern and resilient energy sector.

 

The visit comes amid heightened uncertainty in global energy markets. Earlier this week, the government launched a feasibility study for Strategic Petroleum Reserves with Wood Mackenzie, citing risks linked to the Strait of Hormuz crisis and the need for stronger fuel buffers against potential supply disruptions.