ISLAMABAD: Pakistan State Oil (PSO) and Kuwait Petroleum Corporation (KPC) are exploring ways to expand their longstanding partnership across fuel products, refining, storage, terminals, shipping and logistics, a PSO official said on Sunday.
Pakistan, which imports most of its oil and gas from the Middle East, is planning to boost domestic oil storage and capacity of its refineries to process petroleum products in a bid to increase its energy security, amid an ongoing conflict between the United States and Iran that have disrupted supplies in the Gulf region.
PSO and KPC have a strategic partnership that has supplied Pakistan with gasoil and jet fuel without interruption since 1975, which has held through changing international markets, global crises and shifts in the energy landscape, according to a PSO spokesperson.
“Building on five decades of collaboration, the two companies are exploring opportunities to widen the partnership [in]: expanded product cooperation in Motor Gasoline, LPG and other petroleum products; joint ventures in refining, petroleum storage infrastructure and terminal facilities; and shipping and logistics alliances that further strengthen the supply chain,” the spokesperson said.
“Underpinning all of this is a deeper energy cooperation aligned with the strategic priorities of both nations and their shared goals for sustainability over the years ahead.”
The spokesperson expressed gratitude to the KPC leadership and management for their strategic vision, commercial insight and commitment to this enduring partnership.
“It is a relationship of solidarity, mutual respect and friendship between two nations,” the spokesperson said.
“By combining their strengths, capabilities and shared values, PSO and KPC remain committed to strengthening Pakistan’s energy security, supporting economic growth and building a sustainable energy future.”
