Talks with Saudi Arabia on $8bn Gwadar refinery in final stages
Video     Photos     Pakistan     World     Islam     Health     Crime     Islamic News     Business     Society     India     Travel     Middle East     Sport     sci/tech      Contact      RSS
Search

Decision to assassinate Arafat approved by Saudis: Former senior advisor

Persian Gulf kingdom sought to buy Israeli Hermes attack drones: Report

India shifted BLA commander to Afghanistan, claims Dr Jumma Marri

Indian troops martyred 95,238 Kashmiris in IoK since January 1989

India end Australia Test drought in nail-biter

“PM Khan tried to get me killed”: Serious accusation or a hilarious joke?

NO PLACE IN ISRAEL SAFE FROM HIZBULLAH MISSILES: NAIM QASSEM

Is Punjab Government giving special treatment to Shahbaz Sharif?

MYANMAR BECOMES HELL FOR KACHIN CHRISTIANS AFTER ROHINGYA MUSLIMS

DAESH TERRORISTS' RUSSIAN WIDOWS SEEK RETURN TO THEIR COUNTRY

SAUDI FM REJECTS TURKISH DEMAND FOR KHASHOGGI MURDER SUSPECTS’ EXTRADITION

NEW ME SECURITY PACT FOR US ALLIED ARAB REGIMES BEING WORKED OUT

After Trump's letter to Imran, US tirade against Pakistan continues

HOUTHI ANSARULLAH OPEN FOR MORE TALK IF SWEDEN PROCESS YIELDS: SALAM

PAKISTAN FOREIGN MINISTER FORESEES RESTORATION OF US AID

KP CM SEEKS REPORT ON TALIBAN EXTORTION COMPLAINTS

MBS: My strange experience of teaching the Saudi crown prince

PM Imran to review ministries’ performance every three months

PGCC should take Kuwait approach, avoid nonsense: Spox

Asian Classic Power-Lifting: Baig ends Pakistan’s medal wait after 15 years

Allocation of idle LNG capacity to private sector can save $100m

PML-N’s last ditch efforts to save its Quaid

Malaysian PM Mahathir defends PM Khan’s statement on ‘U-turn’

Exposure to air pollution can raise risk of miscarriage, study warns

Imran ‘India’s best bet’ after Pervez Musharraf: ex-Indian spy chief

We lost Test series against New Zealand due to our own mistakes, says Sarfraz

Saudi Arabia rules out extraditing Khashoggi case suspects

US needs ‘puppet’ like Saudi Arabia to achieve global domination: Analyst

Hezbollah: No spot in Israel safe from our missiles

Do not recommend leaving Afghanistan, says US military chief

Speaker Asad Qaisar meets Iranian President, counterpart in Tehran

US accuses Huawei CFO of Iran sanctions cover-up

Atletico, Sevilla go joint top with Barca

Sheikh Rasheed stirs controversy over information portfolio

Now, visa-free travel to this North American country

The deal behind the doors: PML-N looks ready to show flexibility on PAC chairman issue

Larijani: US creating terrorist groups

Punjab Will Have Uniform Syllabus By March 2020

Govt framing national tariff policy to boost exports

Two Iranians nominated for best Asian futsal coach

Over 1,700 arrested in latest 'yellow vest' protests in France

Iran, Russia stress support for private sectors in sanctions era

NAB is an autonomous body: Javed Iqbal

Pakistan may soon clear K-Electric’s sale

PM Imran, President Alvi due in Karachi today

Qatari emir, sultan of Oman not to join PGCC summit in Saudi Arabia

Not a nepotism: Fawad’s brother appointed as Punjab AAG

Who misfed PM Imran Khan?

The Wooing of Jared Kushner: How the Saudis Got a Friend in the White House

Super-Calm Asad Shafiq Equals a Unique Record For Pakistan

Paris in pictures: Burned cars and graffiti littered monuments

Israel authorized sale of spyware to Saudis: Report

Imran Khan’s Pakistan stands up to US like a sovereign nation: Analyst

Regional intelligence services behind Chabahar terror attack

2nd Speakers' Conference releases final statement

Controversy erupts over information portfolio; Chaudhry offers to step down in Rashid's favour

6 injured in blast at Milad gathering in Karachi's Gulistan-i-Jauhar area

Pakistan Army to Acquire FD-2000 Air Defense System With 125KM Range: Report

Can the Israeli regime attack Lebanon ?!

Bahria Town in Trouble? Employees, Residents & Customers protest

Shia Muslims lament inaction against terrorists for Parachinar blast

US Centcom Chief accuses Pakistan of using Taliban as a hedge against India

Top general warns of another 9/11 if US pulls out of Afghanistan

NAB should stay the way it is: Nawaz

China mission launches to far side of Moon

US sanctions against Iranian nation 'clear example of economic terrorism'

Backdoor diplomacy: Saad spills the beans on PML-N strategy to ‘go soft’ on PTI

President House opens door to public

‘Trade potential between Pakistan, India can be engine for prosperity’

Iran to give crushing response to perpetrators of Chabahar terrorist attack

US report highlights murky world of ‘contractors’ in Pakistan

Society’s mindset needs to be changed to combat harassment: Mazari

SC gives Wapda 15 to prepare new PC-1

Imran wants peace in Kabul without fighting others’ war

Govt wants SBP to consult Centre on exchange rate

Can Russia put an end to western hegemony?

Military-Media: Collaboration to counter propaganda?

Trump’s letter to PM Khan: A long-overdue realization

Biography of Shaikh Saduq

US new sanctions to impact Iranian nation: Dorsey

Constitutional rights to be extended to people of Gilgit-Baltistan

Tel Aviv’s ‘northern shield’ operation’s objective in Lebanon border

Hindu Yuva Vahini Announces Rs 1 Cr Reward For Beheading Congress MLA Navjot Singh Sidhu

Funeral ceremony held for two martyrs of Chabahar terror attack

New Zealand beat Pakistan by 123 runs in third Test, clinch series 2-1

From worse to worst: Another scam of Nawaz Sharif revealed

US government, record-holder of defeat against Iran

'Do not want Pakistan treated like a hired gun': PM Khan on US ties

US fails to condemn Hamas at UN General Assembly

Saudi warplanes launch 28 airstrikes on Yemen, kill 3 amid Sweden peace talks

Pakistan army wants US to leave Afghanistan

ISPR DG warns PTM not to cross limits

Chabahar rocked by Bomb attack: 3 killed

PTI minister Azam Swati resigns 'to uphold moral authority'

Is Trump’s letter a failure of his “New South Asia” policy?

Another Karkare? Slain Policeman was investigating Hindu lynchings of Muslims

Gullu Butt hugs Tahirul Qadri: Irony of the day

I paved way for a ‘Dentist’ President: Zardari’s comments spark uproar

Pakistan must ‘save’ CPEC before its too late

Turkey files arrest warrants for Saudi crown prince allies over Khashoggi murder

2018-10-04 06:56:29

Talks with Saudi Arabia on $8bn Gwadar refinery in final stages

 

Saudi Arabia on Wednesday agreed in principle to set up a major refinery at Gwadar and showed serious commitment to make investments in other areas of energy sector, according to federal Minister for Petroleum Ghulam Sarwar Khan.

The minister told journalists that the two sides had agreed to set up an oil refinery at Gwadar and a summary would be moved to the federal cabinet on Thursday (today) for approval to sign a memorandum of understanding (MoU).

He said the Saudi minister for energy was expected to visit Islamabad later this month for signing of the MoU. He said the visiting Saudi delegation was offered to participate in the $2bn North-South Gas Pipeline and bid for the upcoming 10 petroleum exploration blocks to be offered for auction soon.

China being taken on board on development, says minister

He also requested Saudi Arabia “to enhance crude supplies to Pakistan”.

Mr Khan was talking to journalists after holding a meeting with the Saudi delegation led by energy adviser Ahmad Hamid Al-Ghamidi.

The minister said Saudi Arabia enjoyed great respect in Pakistan and both countries had strong bilateral brotherly relations that would scale new heights under the present government. The proposed 500,000 barrels per day refinery is estimated to be completed with an investment of about $8-9bn.

On the sidelines, Pakistan updated China about the progress on engagements with Saudi delegation.

An official said that Chinese Ambassador Yao Jing on Wednesday called on Minister for Planning and Development Makhdoom Khusro Bakhtiar who is also focal person on CPEC.

Mr Bakhtiar told the ambassador that development of refinery would be more important for Pakistan than Saudi Arabia because it would significantly reduce Islamabad’s oil import bill estimated for current year at $18bn. This would also ensure that Pakistan’s requirement for financial support from the International Monetary Fund is minimised.

The planning minister and the ambassador also finalised plans for creation of a new joint working group on social sector and upcoming visit of Prime Minister Imran Khan to Beijing to attend an industry conference with a business delegation. The two sides viewed it as an opportunity to reduce the China-Pakistan trade gap.

A statement issued by the petroleum division quoted the Saudi delegation as telling the minister that they had visited Gwadar site allocated for the purpose and would like the hosts to provide a suitable piece of land for the refinery.

A senior official who was part of the consultative process said the two sides shared a ‘wish list’ of around eight to nine items for Saudi investment and hoped three to four of those items would materialise over the next few months. “Our priority is to focus on smaller deliverable projects of $1-2bn each in the first phase before getting into mega projects,” he said.

Responding to a question, the official explained that the visit of the Saudi delegation was of fact finding nature and its level of serious commitment for investments appeared very encouraging. “We have been successful in generating their strong interest and it would now also depend on our abilities to materialise some of these projects”, he said.

Officials said the delegation also showed strong interest in Liquefied Natural Gas based power projects. Since these projects are currently operational, competitive bidding would be the only way to move forward, they said.

Responding to a question, the official said question of oil supplies on deferred payment and taking stakes in Reko Diq were not a priority for the two countries at this stage. While the question of oil supplies has to be deliberated by the finance ministers of the two nations, a mega project like Reko Diq involving $15-20bn could not be taken up seriously amid uncertainty about its legal status. The mineral project is currently under international arbitration.

Categories:  
From other agencies (RSS Reader)

احتساب اور کرپشن

- ایکسپریس

Swindler arrested

- The News