Islamabad, March 16, 2026 – Pakistan imports nearly 70 percent of its petrol through the Strait of Hormuz, making the country highly dependent on the strategic maritime route for fuel supplies, the Senate Standing Committee on Petroleum was informed on Monday.
During a briefing to the committee, officials said Pakistan currently imports around 25 percent of its crude oil, 30 percent of diesel, and nearly 70 percent of petrol, mostly transported through the Persian Gulf via the Strait of Hormuz.
The committee meeting was chaired by Senator Manzoor Ahmed in the absence of chairman Umer Farooq.
Pakistan’s current petroleum reserves
Officials informed the panel that Pakistan presently holds about 392,000 metric tons of crude oil, with a daily consumption of roughly 36,000 metric tons.
Diesel reserves stand at around 404,000 metric tons, while daily consumption is approximately 19,000 metric tons. Petrol reserves were reported at 564,000 metric tons, with an average daily consumption of 20,600 metric tons across the country.
Regional conflict affecting fuel supplies
The Petroleum Secretary told lawmakers that several Gulf countries are currently experiencing disruptions in petroleum supplies due to an ongoing regional conflict. As a result, the availability of oil tankers has also become limited because many shipping companies are reluctant to operate in high-risk zones.
Officials warned that such disruptions could affect global energy supply routes and create uncertainty in fuel shipments to countries heavily reliant on imports, including Pakistan.
Russian oil imports face logistical challenges
The committee was informed that Pakistan has recently been allowed to purchase Russian oil after sanctions were temporarily eased for one month from March 11 due to the evolving global situation.
However, the Petroleum Secretary said Pakistan currently lacks established banking channels for such transactions, and completing procurement could take 35 to 40 days.
He added that large Russian oil tankers cannot dock directly at Pakistani ports due to size restrictions. Instead, shipments would first arrive at ports in Muscat or other Omani terminals before being transferred onward to Pakistan.
Government monitoring fuel supply situation
Officials told the committee that Shehbaz Sharif has formed a high-level committee headed by Muhammad Aurangzeb to monitor the petroleum supply situation on a daily basis.
Meanwhile, the Oil and Gas Regulatory Authority has been directed to closely monitor petroleum stocks and market prices to avoid shortages.
Authorities also noted that the ongoing threshing season has increased diesel demand across Pakistan, prompting the government to ensure uninterrupted fuel supply.
Lawmakers question petroleum price increase
During the meeting, Senator Manzoor Ahmed expressed concern over the recent rise in petroleum prices despite existing stock availability. He asked whether the government could avoid placing additional financial pressure on citizens and sought details on stock levels, taxes, and beneficiaries of the price adjustments.
The Petroleum Secretary rejected claims that Oil Marketing Companies (OMCs) were benefiting from the price increase, saying the move was partly aimed at preventing panic buying and hoarding.
He explained that international diesel prices had surged sharply from about $28 per barrel to nearly $88 per barrel due to geopolitical tensions.
LNG supplies also under pressure
The committee was also informed that Pakistan currently has two LNG supply arrangements with QatarEnergy, known as Qatar-I and Qatar-II, under which nine LNG cargoes are typically received every month.
However, the supplier has issued a force majeure notice due to the ongoing conflict, leading to reduced LNG shipments.
Officials said that while two LNG cargoes arrived earlier in March, six additional cargoes failed to reach Pakistan due to war-related disruptions. As a result, the country’s LNG reserves are currently sufficient only until mid-April.
The Petroleum Secretary warned that LNG supply to the power sector may be curtailed from March 30, which could potentially lead to electricity load shedding if the situation persists.