Oil sector assured of PDC payment

The Oil and Gas Regulatory Authority (Ogra) on Wednesday assured the downstream petroleum industry that it would share a revised framework and implementation timeline for the settlement of long-pending price differential claims (PDCs), following a meeting with chief executives of oil marketing companies (OMCs). The meeting, chaired by Ogra's new leadership, brought together chief executives of more than 30 OMCs in what industry participants described as a constructive engagement after years of unresolved issues and repeated representations by the Oil Companies Advisory Council (OCAC). During the meeting, the OCAC chairman and the Oil Marketing Association of Pakistan (OMAP) chairman highlighted the financial and regulatory challenges confronting the downstream petroleum sector. The primary focus remained on the settlement of outstanding PDCs, with unpaid claims exceeding Rs66 billion. In...