Pakistan on Monday sought investment from US financial institutions in $6 billion oil refinery upgradation projects and invited American firms to the Pakistan Mineral Forum in Islamabad on 12-13 November, according to an official statement reported by Dawn. Petroleum Minister Ali Pervaiz Malik raised the projects in a meeting with US Charge d’Affaires Natalie A. Baker.
The minister briefed the US side on steps taken to keep fuel supplies steady despite the Middle East conflict, which he said had created challenges for fuel availability. He stressed that Pakistan had avoided a fuel shortage despite the difficult regional situation, a point the US envoy acknowledged.
The managing directors of Pakistan State Oil and Pakistan LNG briefed the meeting on US companies’ interest in supplying LNG to Pakistan. Longer-term supply contracts were also discussed. For Pakistan, refinery upgrades matter because they can raise domestic fuel output and cut reliance on imported refined products.
Sources: Dawn, Petroleum Ministry official statement. Written in our own words for information only.