#Saudi minister reaches
#Gwadar to inspect land allocated for oil refinery
GWADAR: A Saudi delegation, headed by Saudi Minister for Energy, Industry and Minerals Khalid Abdul Aziz Al Falih, arrived in Gwadar on Saturday to inspect the land allocated for a proposed oil refinery, Radio
#Pakistan reported. Petroleum Minister Ghulam Sarwar Khan welcomed the visiting delegation.
Speaking on the occasion, Ghulam Sarwar Khan said, “Pakistan and Saudi Arabia have a distinctive relationship,” adding that the state-of-the-art oil refinery is the biggest investment project of Saudi Arabia in Pakistan.
Sarwar said that during the upcoming visit of the Saudi crown prince to Pakistan in February, a memorandum of understanding (MoU) regarding the oil refinery would also be signed.
Pakistan and Saudi Arabia are likely to ink an agreement to install the Saudi
#Aramco Oil Refinery at the oil city located in Gwadar.
Saudi and Pakistani authorities will also sign a MoU to set up $10 billion oil refinery at the deep seaport which is also the terminal point of the multi-billion-dollar
#China #Pakistan Economic Corridor (
#CPEC) project.
The Pak Arab Refinery (
#Parco), a joint venture between Pakistan and
#AbuDhabi, is also working on Khalifa refinery project with a total refining capacity of 250,000 barrels per day. At present, Parco is the largest refinery in Pakistan that has a refining capacity of 100,000 barrels per day.
Officials said Saudi Arabia and the
#UAE had announced the same packages for Pakistan and
#Riyadh was likely to set up a refinery with a capacity of 250,000 barrels per day. At present, the total refining capacity of Pakistan is around 300,000 barrels per day
