Pakistan has oil reserves for approximately 28 days to ensure the production of its main products, according to the Hydrocarbon Monitoring Committee of the Pakistani government.
Pakistan currently has no immediate concerns about the availability of petroleum products, but the energy supply situation remains unstable due to risks to global oil logistics chains and rising costs of hydrocarbon delivery.
Since February 28, two tankers carrying oil destined for Pakistan have been blocked in the Strait of Hormuz. Islamabad has reached agreements with Saudi Aramco and ADNOC of the UAE to supply oil via alternative routes through the Red Sea, according to the committee's statement.
The Pakistani government is considering imposing a four-day work week and moving educational institutions to distance learning as possible measures in response to the risk of power shortages and rising prices of gasoline, diesel and liquefied natural gas (LNG) due to reduced energy imports from the Middle East as a result of the escalating military conflict between Iran, Israel and the United States. This situation could force Pakistani authorities to review fuel prices every week as rising costs will hamper domestic consumption.
Government experts have noted that new oil import agreements may prove uneconomical for Pakistan due to rising prices, which have pushed the cost of a single shipment of liquefied natural gas to approximately $70 million, compared to $30 million before the Middle East conflict.