UAE to invest $5 billion in Pakistan's oil refinery, says envoy

UAE Ambassador Hamad Obaid Ibrahim Salem Al-Zaabi is talking to Arab News about his country’s plan to invest $5 billion in an oil refinery on October 3, 2019. (AN Photo)
Updated 06 October 2019

UAE to invest $5 billion in Pakistan's oil refinery, says envoy

  • PARCO Coastal Refinery is among UAE’s major investments in the country
  • The oil refinery project in Hub, Balochistan, will have an output of 250,000-300,000 barrels per day

ISLAMABAD: The United Arab Emirates (UAE) plans to invest $5 billion in an oil refinery project in Pakistan by the end of 2019, said UAE’s top diplomat while talking to Arab News on Thursday.
“We are going to launch very soon one of the biggest investments in a refinery project in Hub (a town in Balochistan). It is going to be a $5 billion investment between Mubadala Petroleum Company of Abu Dhabi, Pak Arab Refinery Limited (PARCO) and OMV [OMV Pakistan Exploration Gesellschaft],” UAE Ambassador Hamad Obaid Ibrahim Salem Al-Zaabi said.
PARCO Coastal Refinery is among UAE’s major investments in the country. It was incorporated in Pakistan in May 1974, as a public limited company. Today, PARCO is considered the fulcrum in Pakistan’s strategic oil supply and logistics.
Mubadala Petroleum is an international oil and gas company based in the UAE.
The plan is to set up a deep-conversion, state-of-the-art refinery that would have an output of 250,000-300,000 barrels per day.
Al-Zaabi said the project was the result of extensive discussions between Mubadala Petroleum and Pakistan’s petroleum ministry along with PARCO and OMV.
“This project will show the strength of UAE-Pakistan relations and how the UAE is focusing on investment in and future of Pakistan.”
Pakistan has sought local and foreign investment in oil and gas sector. It is also offering good rates to oil and gas exploration and production companies.
“The two governments are finalizing the minute details of this refinery project. Many meetings have taken place regarding this project,” Al-Zaabi said, adding that a UAE delegation, headed by Musabbeh Al Kaabi, the chief executive officer of Mubadala Petroleum, visited Pakistan a few months ago and met with the board of investment chairman and Pakistan’s petroleum minister.
“They have discussed this project in detail. We are going to launch it very soon,” he added.


Pakistan sends medicines, food items to Lebanon after deadly explosions

Updated 07 August 2020

Pakistan sends medicines, food items to Lebanon after deadly explosions

  • More than 150 people were killed and over 5,000 others were injured when a string of blasts rocked Beirut on August 4
  • FM Qureshi assured his Lebanese counterpart that the government and people of Pakistan stood in strong solidarity with the people of Lebanon

ISLAMABAD: Pakistan on Friday sent medicines and food items to Lebanon after a string of deadly explosions ripped through Beirut earlier this week, killing more than 150 people and injuring over 5,000 others.

Pakistan’s Ambassador to Lebanon Najeeb Durrani is handing over eight tons of relief items for the victims of Beirut explosions to senior Lebanese officials at the Rafic Hariri International Airport in Beirut on Aug. 7, 2020. (Photo courtesy Pakistan Embassy in Beirut)

According to an official statement released in Islamabad, the country’s foreign minister called his Lebanese counterpart and informed him about the relief assistance over the phone.
“Foreign Minister Shah Mahmood Qureshi, in a telephonic conversation, informed his Lebanese counterpart, Charbel Wehbe, that 8 tons of relief assistance consisting of medicines and food supplies sent by the Government of Pakistan as a token of solidarity would be delivered in Beirut today,” said the official statement.

Pakistan’s Ambassador to Lebanon Najeeb Durrani is handing over eight tons of relief items for the victims of Beirut explosions to senior Lebanese officials at the Rafic Hariri International Airport in Beirut on Aug. 7, 2020. (Photo courtesy Pakistan Embassy in Beirut)

It added that Qureshi also expressed deep sorrow and grief over the loss of precious lives, injuries to people, and extensive material damage caused by the explosions.
“The Foreign Minister underscored that, at this difficult time, Pakistan stood in strong support and solidarity with the brotherly Lebanese people,” the statement said.

Pakistan’s Ambassador to Lebanon Najeeb Durrani is handing over eight tons of relief items for the victims of Beirut explosions to senior Lebanese officials at the Rafic Hariri International Airport in Beirut on Aug. 7, 2020. (Photo courtesy Pakistan Embassy in Beirut)

Meanwhile, authorities in Lebanon received the relief package on Friday afternoon.
“The relief goods were handed over to Deputy Chief of Protocol Mr. Salem Al Achkar from the Ministry of Foreign Affairs and Emigrants and General Elias Abi Karam, Commander of Lebanon’s Air Force by Najeeb Durrani, Ambassador of Pakistan, today at 1530 at Rafic Hariri International Airport,” Pakistan’s embassy in Beirut confirmed in a statement.