Direct­s local refine­ries to keep furnac­e oil output at the minimu­mISLAMABAD: The government has notified an immediate ban on the import of furnace oil and has directed all the refineries to utilise billions of rupees worth of deemed duty, which they collect on the sale of petroleum products, for the upgrade of their plants. The government also instructed the refineries to immediately reduce the production of furnace oil to the minimum level and ink commercial agreements with power producers for the utilisation of their furnace oil storage capacity. “In future, all the refineries will ensure that the production of furnace oil is at the minimum as a byproduct of crude oil processing,” a notification said. It has imposed the ban on furnace oil import with immediate effect, except for K-Electric. On the other hand, furnace oil was not being lifted from local refineries which were on the brink of shutdown.

Source: The Express Tribune January 08, 2019 15:00 UTC