Saudi Arabia agrees to give oil to Pakistan on credit

Federal Minister for Petroleum Ghulam Sarwar Khan has confirmed Pakistan’s plan to take oil from Saudi Arabia on credit for five years.
Speaking in the National Assembly on Tuesday, Ghulam Sarwar said the authorities in Saudi Arabia have agreed to Pakistan’s request for oil. The petroleum minister’s statement came following reports, according to which Pakistan has asked Saudi Arabia for a daily oil supply of 200,000 barrels for five years. It was also said that oil supply on credit was sought for 90 days. However, Ghulam Sarwar told the assembly that Pakistan has made the request for five years.
A day earlier, senators from the opposition parties objected to the government’s invitation to Saudi Arabia to become a partner in the China-Pakistan Economic Corridor and set up an oil refinery in Gwadar.
To this, the petroleum minister said Saudi Arabia expressed interest in setting up a refinery in Balochistan and the government also wished for the same.
Meanwhile, a six-member Saudi delegation on Tuesday visited Gwadar, where it was briefed on different developmental activities and projects being executed under the China-Pakistan Economic Corridor (CPEC), officials said. Led by Ahmad Hameed Al-Ghamdi, adviser of Saudi Arabia’s Ministry of Energy, Industry and Mineral Resources, the delegation visited different departments of Gwadar port and the port’s free zone.
During their visits, the Saudi team was given a briefing on CPEC projects linked to Gwadar port and projects being implemented by the Gwadar Development Authority. They were also apprised of the facilities and security arrangements extended to investors by the Government of Pakistan, officials at the port said.
The Saudi team showed interest in investing in Gwadar and expressed satisfaction over the facilities and security situation in the area.
During the visit, Al-Ghamdi was quoted as saying that there are historical, religious and brotherly relations between Saudi Arabia and Pakistan. Staff Reporter