strategic petroleum reserves
Coverage of strategic petroleum reserves in the Nexus archive.
- PM orders increase in country's strategic petroleum reserves; changes to oil refining policy approved
Prime Minister Shehbaz Sharif directed authorities to increase strategic petroleum reserves, and the cabinet approved amendments to the Pakistan Oil Refining Policy 2023. The policy changes aim to upgrade oil refineries to meet energy needs, reduce fuel imports, and provide environment-friendly fuel.
- Economy amidst conflicts
Pakistan is establishing its first Strategic Petroleum Reserves to mitigate energy supply risks from Middle East tensions and Strait of Hormuz disruptions. The government plans a 45-day emergency oil buffer and a long-term 90-day reserve, while seeking a $6.7 billion oil facility from Saudi Arabia and promoting the Pakistan Maritime Energy City at Gwadar Port with Gulf cooperation.
- Iran war: Oil shortages threaten global energy security
Oil shortages are threatening global energy security as strategic petroleum reserves decline rapidly due to countries releasing emergency crude supplies to mitigate the economic impact of the Middle East conflict.
- China’s hidden reserves may be the reason why oil prices haven’t exploded even higher
The article suggests that China's government may be releasing petroleum from strategic reserves into the market, potentially preventing a sharper rise in oil prices. This analysis is based on a recent Commodity Context newsletter by Rory Johnston.