OGRA Warns of Strict Action Against Illegal Hoarding of Petroleum Products

The Oil and Gas Regulatory Authority (OGRA) on Thursday warned that strict measures will be taken against any individual or entity involved in the illegal hoarding of petroleum products at unauthorised locations, particularly outside licensed oil depots and retail outlets of Oil Marketing Companies (OMCs).

In a statement, an OGRA spokesperson said: “Any premises found involved in the illegal storage of petroleum products will be sealed.”

The spokesperson reassured the public that the country currently holds sufficient petroleum stocks to meet national demand, emphasizing that there is no need for panic buying or hoarding.

Amid the prevailing geopolitical situation, authorities are closely monitoring the petroleum supply chain to ensure uninterrupted availability of products across the country. “The existing stock position remains comfortable and well within the prescribed requirements,” the statement added.

Reports have suggested that certain elements may attempt to hoard petroleum products for profiteering. To prevent this, the spokesperson said, “all provincial chief secretaries have been requested to direct deputy commissioners (DCs) to conduct inspections within their respective jurisdictions.” OGRA teams are actively monitoring oil depots and retail outlets to ensure smooth supply and curb malpractice.

The public was advised not to pay attention to rumours and to maintain normal consumption patterns.

Separately, Muhammad Aurangzeb stated that ensuring uninterrupted petroleum supply is the government’s top priority. He made the remarks while chairing a meeting of the committee to Monitor Petrol Prices in the Wake of the Emerging Situation in the region, constituted by Shehbaz Sharif, in Islamabad.

The committee reviewed national reserves, which remain at comfortable levels, and assessed multiple supply and pricing scenarios to ensure preparedness under various contingencies. Recommendations from the committee will be finalised for submission to the prime minister.

Discussions also focused on potential “war premium” effects and intensified competition for energy cargoes in Asian markets, which could put pressure on the external account if volatility persists. Measures to strengthen supply assurance through diversified sourcing, timely shipping, and use of national shipping capacity were also reviewed.

To maintain orderly market conditions, the committee emphasised coordinated enforcement actions by provincial administrations alongside OGRA and relevant agencies to deter hoarding, illegal storage, and diversion of petroleum products. Preventing outward smuggling and ensuring uninterrupted domestic distribution remains a top operational priority, with real-time field intelligence and strict action against violations actively maintained.