PSO requests a Chinese company to build a refinery in Pakistan with Saudi Aramco

Pakistan State Oil (PSO) has initiated discussions with Sinopec, a prominent Chinese energy company, to collaborate with Saudi Arabia’s Aramco in the construction of a cutting-edge refinery and petrochemical complex within Pakistan. This ambitious project is envisioned to be integrated into the broader framework of the China-Pakistan Economic Corridor (CPEC).

In a letter penned by PSO’s CEO, Syed Muhammad Taha, to Sinopec’s President, an invitation was extended to explore the possibility of partnership in this significant endeavor. Taha outlined the objective of establishing a refinery with a processing capacity exceeding 300,000 barrels of oil per day, aimed at producing a diverse range of petroleum products. To sweeten the deal, the Pakistani government is offering incentives such as tax breaks and exemptions from import duties.

Taha underscored Pakistan’s surging energy demands and flourishing economy, presenting an opportune moment for Sinopec to consider investment in the country. He further highlighted Sinopec’s proven expertise and robust financial standing, positioning them as an ideal partner for this venture.

Furthermore, the government is contemplating the formulation of new policies to attract investment from Aramco for another project related to crude oil processing, with potential involvement of Sinopec in this endeavor as well.

Leave a Reply

Your email address will not be published.