The Ministry of Energy has told all oil marketing companies to cancel their plans to import motor gasoline and crude oil from next month.
Oil consumption has dropped due to lockdown restrictions to control the spread of the coronavirus.
In a letter written to the Oil Companies Advisory Council’s chief executive officer on Thursday, the government said OMCs have a sufficient inventory of motor gasoline. It asked OMCs to increase their off take from refineries so they can maintain their operations adequately.
The letter advised all OMCs to finalise or update their commercial agreements with local refineries.