Will Saudi Arabia build Pakistan’s largest oil refinery?
Islamabad: Four Pakistani state-owned petroleum companies have signed a memorandum of understanding with Saudi Arabia to build Pakistan’s largest oil refinery with an investment of USD 10 billion in the strategic Gwadar Port, according to a media report on Friday.
Which country is planning a $2 billion oil refinery near Gwadar?
A $2 billion oil refinery is planned to be set up near Gwadar. The port is being developed by the China Overseas Port Holding Company (COPHC), to which it was leased by the Pakistan government for 40 years in April 2017. The final expansion of the port and ancillary systems will be undertaken by the Chinese.
Can Gwadar be an oil refinery?
¡°Gwadar can only be a feasible location of an oil refinery if a 600km oil pipeline is built connecting it with Karachi, the centre of oil supply of the country,¡± the official said. There is currently an oil pipeline from Karachi to the north of Pakistan, but not to the east.
Will Saudi Arabia build a refinery at Gwadar?
On June 2, Tabish Gauhar, the special assistant to Pakistan¡¯s prime minister on power and petroleum, said that Saudi Arabia would not build the refinery at Gwadar but would construct it along with a petrochemical complex somewhere near Karachi.