Energy Security Reviewed as Oil May Hit $120 per Barrel

KARACHI (Handout): Syed Murad Ali Shah, Chief Minister of Sindh, on Sunday held a meeting with Federal Finance Minister Muhammad Aurangzeb and Federal Petroleum Minister Ali Pervaiz Malik to review the evolving regional situation and its potential impact on Pakistan’s energy supplies and economy.

The meeting at the CM House was attended by Sindh Home Minister Ziaul Hassan Lanjar, Chief Secretary Asif Hyder Shah, Energy Secretary Shuhab Ansari and other officials. Representatives from the Oil and Gas Regulatory Authority (OGRA), Petroleum Division of Pakistan and Sui Southern Gas Company also participated.

Officials briefed the meeting on rising global oil prices and Pakistan’s fuel reserves, warning that further escalation of the Middle East conflict could push crude oil prices up to $120 per barrel, placing additional pressure on the national economy.

Participants discussed emergency energy conservation measures to manage fuel consumption while ensuring uninterrupted economic activity. Chief Minister Murad Ali Shah stressed responsible energy use and public cooperation, adding that proposals discussed in the meeting would be presented before the provincial cabinet for further consideration.

Finance Minister Muhammad Aurangzeb said the federal government was closely monitoring global energy markets and preparing contingency plans, noting that a sharp rise in oil prices could increase Pakistan’s monthly oil import bill by up to $600 million.

The meeting was also informed that three petrol cargoes were expected to arrive by Monday, while authorities would take steps to prevent hoarding and ensure smooth fuel supply across the country.