Ogra imposes Rs40 million fine on oil companies over violations

By: News Desk      Published: 08:54 PM, 11 Jun, 2020
Ogra imposes Rs40 million fine on oil companies over violations
–File photo

The Oil and Gas Regulatory Authority (Ogra) has fined six oil marketing companies over violation of terms and conditions of their licences and failure in maintaining the required reserves amid the prevailing oil shortage in the country.

Ogra has imposed a fine of Rs40 million on these companies collectively and they are bound to pay this fine within 30 days. These companies can file a review appeal after paying 50 percent of the total amount of fine. A fine of Rs10 million each has been imposed on Shell Pakistan Limited and Total Parco Pakistan Limited, while a fine of Rs5 million each has been imposed on Attock Petroleum Limited, Puma Oil and Gas Pakistan Limited and Hascol Petroleum Limited. Ogra has directed these companies to improve oil supplies and told them that more fine could be imposed on them in case of non-compliance with the official instructions.