SIFC moves to address refinery woes

The Special Investment Facilitation Council (SIFC) has given a deadline of November 10 to the Petroleum Division for addressing the challenges being faced by oil refineries, which prevent the signing of plant upgrade agreements under the Brownfield Refinery Policy 2023. Sources told The Express Tribune that a working group on downstream policy issues recently held a meeting under the SIFC umbrella at the Prime Minister's Office. SIFC also decided that the Oil and Gas Regulatory Authority (Ogra) chairman would certify in writing that all standard operating procedures (SOPs) and regulatory guidelines related to the import of fuel and the utilisation of petroleum product stocks at refineries were strictly adhered to. The Oil Companies Advisory Council (OCAC) – a lobby group of refineries and oil marketing companies, has repeatedly alleged in recent months that the regulator had permitted the import of diesel despite the availability of surplus stocks at local refineries.