Commerce Desk
Karachi: Pakistan State Oil (PSO) and Kuwait Petroleum Corporation (KPC) have reaffirmed their 50-year energy partnership and agreed to widen cooperation across supply, storage, shipping, refining, lubricants and investment. PSO CEO Jawwad Ahmed Cheema led his delegation in talks with KPC’s leadership, including CEO and Deputy Chairman Shaikh Nawaf Saud Al-Sabah and Managing Director International Marketing Shaikh Khaled Ahmad Al-Sabah.
The two sides agreed to continue gasoil and jet fuel supplies from Kuwait to Pakistan, with terms optimised to market realities. They will also explore KPC supplies of motor gasoline and petrochemicals, and discussed base oil supplies and lubricants marketing.
KPC will use Pakistan’s storage and port facilities under the government’s revised Customs Bonded Storage Policy, serving domestic sales and re-exports to regional markets. Pakistani authorities are expected to finalise the remaining procedures shortly.
KPC also expressed interest in strategic alliances and will explore investments in Pakistan’s energy sector, including gas, refining, storage, shipping and logistics. PSO invited KPC’s top management to visit Pakistan early next year for the partnership’s 50th anniversary.
Cheema said the partnership is “gathering pace” and aims to evolve into a strategic alliance.
