Pakistan, March 10 -- A conflict has erupted between local oil refineries and Oil Marketing Companies (OMCs) over a proposed "Take or Pay" clause. OMCs strongly oppose this move, fearing it will lead to liquidity crises, supply disruptions, and market exits. The Oil Marketing Association of Pakistan (OMAP) argues that this clause would favor large players while pushing smaller OMCs toward financial collapse.

Five major oil refineries, including Attock Refinery Limited and National Refinery Limited, have urged the Oil and Gas Regulatory Authority (OGRA) to enforce compliance in oil uplift agreements. They claim that OMCs have repeatedly failed to meet their obligations, disrupting refinery operations. The refineries want a meeting with OM...