Saudi Arabia, Pakistan in Talks Over Oil Refinery Project

Saudi Arabia, Pakistan in Talks Over Oil Refinery Project

Saudi Arabia proposed a multi-billion dollar oil refinery in the Pakistani port city of Gwadar during high-level diplomatic talks between a Saudi delegation and Pakistani authorities, Arab News reported.

“The Saudi delegation has expressed interest in an oil refinery, the power sector, setting up a desalination plant, wind projects, and solar power projects,” Pakistan’s Commerce Minister Abdul Razak Dawood said.

The Saudi delegation is expected to sign a memorandum of understanding (MoU) on projects of mutual interest on October 4, at the end of its five-day visit to Pakistan.

“The delegation is going to visit Gwadar on Tuesday to review the setting up of the oil refinery,” Dawood added.

Talks were also held regarding a Saudi acquisition of stakes in liquefied natural gas power plants in the Punjab province.

During the visit, Pakistan formally sought the purchase of crude oil from Saudi Arabia on a deferred payment of at least 90 days.

Mariana Somensi 890 Posts

Mariana holds a Journalism Bachelor Degree from the State University of Londrina, Brazil. The Brazilian journalist has 4 years of experience on the MENA region's affairs and over a year of experience on the oil and gas industry.


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