ISLAMABAD, Feb 3 (APP): The oil sector is expected to
attract Rs 10.5 billion investment during the next three years,
official sources said here Friday.
The Oil and Gas Regulatory Authority
(OGRA) has issued 21 provisional licences for establishing oil marketing
companies (OMCs) during the last six months – July to December 2016.
“With the establishment of these companies, a minimum investment
of Rs 10.5 billion will pour into the oil sector during next three
years,” official sources told APP.
The licences have been granted to Best Petroleum
(Pvt) Limited, Oil Industries Pakistan (Pvt) Limited, Accel
Petroleum (Pvt) Limited, Euro Oil (Pvt) Limited, Oleum Petroleum
(Pvt) Limited, Al-Noor Petroleum (Pvt) Limited, Damam Petroleum
(Pvt) Limited, Max Fuels (Pvt) Limited, Fast Oil (Pvt) Limited,
Hi-Tech Lubricants (Pvt) Limited, Jinn Petroleum (Pvt) Limited,
Vital Petroleum (Pvt) Limited, International Petrochemicals (Pvt)
Limited, Allied Petroleum (Pvt) Limited, Only One Energy (Pvt)
Limited, Pak Gasoline Services (Pvt) Limited, Shams Petroleum
(Pvt) Limited, Berkeley Oil & Gas Development (Pvt) Limited, Taj
Gasoline (Pvt) Limited, My Petroleum (Pvt) Limited and Terminal
One (Pvt) Limited.
Besides, the sources informed that OGRA issued product marketing
permission to five companies after they established their
storage facilities and completed other requirements under three-year provisional licences.
The permission has been granted to Horizon Oil Company (Pvt)
Limited, Petrowell (Pvt) Limited, Kepler Petroleum (Pvt) Limited,
Outreach (Pvt) Limited and Z&M Oils (Pvt) Limited in their
respective provinces, introducing new players in marketing arena of
petroleum products.
During the period, the sources said, OGRA
through third party inspectors, inspected oil
storage infrastructure developed by various OMCs including
Bakri Trading Company (Pvt) Limited at Shikarpur; Petrowell (Pvt)
Limited at Port Qasim, Outreach (Pvt) Limited at Manga,
Kepler Petroleum (Pvt) Limited at Daulatpur,
Gas & Oil Pakistan (Pvt) Limited at Shaheed
Benazirabad (Nawabshah), Z&M Oils (Pvt) Limited at Pattoki
(Kasur); Hascol Petroleum Limited at Amangarh,
Daulatpur (additional), Shikarpur (additional) & Mehmoodkot and
Horizon Oil Company (Pvt) Limited at Vehari.
They said four licenses had been granted to companies including
Hascol Terminals Limited, Fauji Tarns Terminal Limited, Hascol
Petroleum Limited for development of new oil storages/terminals at
different locations, which would further strengthen the oil supply
infrastructure.
OGRA had also granted licneces to two lube oil blending plants
and six lubricant marketing companies.
Answering a question, the sources said OGRA received 3,003
complaints, out of which 2,427 were resolved by providing 195 gas
connections and giving Rs 305.188 million relief to consumers.