Share:ISLAMABAD - The local oil refineries are shutting down their production due to massive import of High Sulphur Fuel Oil (HSFO) by the government and low demand from the power sector. The source said that refineries and oil marketing companies have monthly Review Meetings chaired by DG Oil to see that all refineries all first run on maximum and only the deficit between demand and local production is to be imported. The refineries was asked by the government to produce more furnace oil as less LNG was procured, the source said. However, suddenly the decision was changed and furnace oil was imported. Chief Executive Officer, Zahid Mir, of PRL when contacted on the closure, he replied “The PRL is shutting down due to non supply of furnace oil because of no demand in the power sector.

Source: The Nation December 20, 2021 15:39 UTC