Iran-Israel War: The conflict between the United States, Israel and Iran has entered its 15th day on March 14, with missile strikes, drone attacks and air raids continuing across the Middle East and no clear signs of de-escalation. The war has severely disrupted the Strait of Hormuz, one of the world’s most crucial energy chokepoints through which nearly 20 per cent of global petroleum liquid consumption passes.
The disruption has sparked fuel shortages across parts of South Asia as countries scramble to secure supplies. Long queues outside fuel stations have been reported not only in India but also in Pakistan and Bangladesh amid growing concerns over oil availability.
How much oil reserve do Pakistan & Bangladesh have?
Pakistan holds about 243,000,000 barrels of proven oil reserves as of 2025, ranking 52nd globally and accounting for around 0.014 per cent of the world’s total oil reserves of 1,765,151,568,000 barrels, according to data from Worldometer.
As per 2024 consumption levels, Pakistan’s proven reserves are equivalent to about 1.4 times its annual oil consumption. This means that without imports, the country would have roughly one year of oil supply remaining, excluding any unproven reserves.
In contrast, Bangladesh holds only about 2.8 million barrels of proven oil reserves as of 2025. The country ranks 95th in the world and accounts for around 0.00016 per cent of global reserves.
Its reserves are effectively equivalent to zero years of consumption, meaning that without imports the country would have virtually no oil supply left even for current consumption levels.
Where Does Pakistan Stand?
Amid the worsening global oil supply crisis following the shutdown of the Strait of Hormuz, Pakistan has taken steps to secure energy shipments. On Friday, the Pakistan Navy safely escorted two merchant vessels carrying millions of litres of oil from Fujairah in the United Arab Emirates to Karachi Port.
The move comes as Pakistan, which relies heavily on Gulf countries for its oil and energy needs, faces a growing fuel crisis. Two ships carrying between 100 million and 120 million litres of oil arrived at Karachi port on Friday morning, officials from the Pakistan National Shipping Corporation said, as per a PTI report.
The escort mission has been named 'Operation Muhafiz-ul-Bahr' by the Pakistan Navy. Pakistan’s Federal Minister for Maritime Affairs, Junaid Anwar, said the deployment of naval vessels to escort merchant ships should not be misunderstood or interpreted as Pakistani naval ships accompanying vessels through the Strait of Hormuz.
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The Pakistan Navy has named the escort mission 'Operation Muhafiz-ul-Bahr'. Meanwhile, the Pakistan government, which has already increased petrol prices by PKR 55 since the conflict in the Gulf region began on February 28, is expected to announce another price hike as the Oil and Gas Regulatory Authority prepares to release new fuel prices.
Where Does Bangladesh Stand?
Bangladesh has also taken emergency measures as the energy crisis deepens. The government has closed universities across the country and introduced fuel rationing to manage electricity consumption.
Authorities ordered the closure of all public and private universities from March 9, advancing the Eid al‑Fitr holidays as part of the emergency measures, according to a report by Al Jazeera.
Officials said the move would help reduce electricity demand and ease traffic congestion, which contributes to fuel wastage.
University campuses consume significant electricity for residential halls, classrooms, laboratories and air-conditioning systems, and authorities believe the early closure will help reduce pressure on the country’s power grid.
Bangladesh, which imports nearly 95 per cent of its energy requirements, has also imposed daily limits on fuel sales after panic buying and stockpiling were reported.
Bangladesh has also urged institutions and offices to reduce power consumption by maximising natural daylight and minimising unnecessary lighting and electricity use. These steps come as Bangladesh faces growing uncertainty over fuel and gas supplies following disruptions in global energy markets caused by the US-Israel conflict with Iran.
Severe gas shortages have already forced the country to halt operations at four of its five state-run fertiliser plants, diverting available gas supplies to power stations in order to prevent widespread electricity outages.
The country of around 170 million people, the world’s eighth most populous, has also purchased liquefied natural gas from the spot market at sharply higher prices while seeking additional cargoes to fill supply gaps.
Earlier, Bangladesh’s newly elected government sought assistance from the United States, China and India to boost gasoil availability. They have also sought assistance from China for oil product supplies. As a result, Bangladesh Petroleum Corporation (BPC) is expected to receive at least three gasoil cargoes of about 30,000 metric tonnes each between March 13 and March 29.
Bangladesh has also asked India to supply at least two additional gasoil cargoes of 30,000 metric tonnes each, according to the BPC official.
The joint forces of the United States and Israel, on February 28, launched coordinated strikes on Iranian military infrastructure, triggering a series of retaliatory attacks by Iran against US military bases in the Middle East and disruptions in the Strait of Hormuz that have driven global energy markets higher.