OGCP-2024 Conference Highlights Deregulation Importance

A recent conference in Pakistan shed light on the importance of deregulating the petroleum sector to boost growth in the oil and gas industries. The Oil and Gas Conference Pakistan (OGCP-2024) brought together key stakeholders to address obstacles hindering progress and collaborate on a national strategy.

During the conference, OGRA Chairman Masroor Khan discussed the regulatory framework supporting the industry and efforts to tackle emerging challenges. He highlighted the presence of 180 terminals in the country with a 20-day stock availability, along with plans for setting up more CNG gas stations and additional LNG terminals to meet the rising energy demands.

Former Prime Minister Shahid Khaqan Abbasi emphasized the sector's potential and the need to address the increasing use of LPG due to gas shortages. He stressed the significance of fully deregulating the petroleum sector to encourage private sector participation.

Adil Khattak, MD of Attock Refinery Limited, underscored the importance of combating oil smuggling to prevent revenue losses, calling for stricter measures to curb this illegal activity.

The conference aimed to showcase Pakistan's energy sector potential, focusing on domestic production, exploration, and sustainable practices. It explored strategies to enhance energy security, reduce import reliance, and leverage local energy resources. Industry experts shared insights on development and challenges, covering themes such as exploration strategies, renewable energy integration, regulatory frameworks, technological advancements, and investment opportunities.

The discussions at the conference highlighted the critical need for deregulation in the petroleum sector to drive growth and innovation in Pakistan's oil and gas industries. By addressing regulatory challenges, combating illegal activities, and promoting private sector involvement, the country can unlock its energy sector's full potential and achieve sustainable development.