Oil and Gas Regulatory Authority (Ogra)
Coverage of Oil and Gas Regulatory Authority (Ogra) in the Nexus archive.
- Fund created to mitigate oil price shocks
The government established a Petroleum Prices Stabilisation Fund to mitigate oil price shocks by channeling proceeds into the Public Account under the Special Deposit Fund. The fund aims to adjust petroleum prices weekly to minimize consumer impact, leveraging savings from unconventional oil imports and potential future austerity measures.
- Weekly oil pricing mechanism to stay
Pakistan's Petroleum Division assured oil firms that the weekly pricing mechanism would continue, basing future petrol and diesel prices on recent import premiums to minimize losses. Industry leaders criticized frequent policy changes for eroding profitability and deterring foreign investment, while demanding restoration of the pre-war pricing formula.