Pakistan to partner with Saudi Arabia, Kuwait, Qatar on oil storage scheme

Pakistan's Petroleum Minister announced a new energy partnership with Saudi Arabia, Kuwait, and Qatar. The three countries will store crude oil in Pakistan at their own cost, and Pakistan will have the right to purchase those supplies at cost during conflicts. As Dawn reports, the scheme awaits approval from Pakistan's Economic Coordination Committee. Pakistan imports roughly ninety percent of its energy and produces only about seventy thousand barrels per day against a daily demand of five hundred thousand. The ongoing US-Iran conflict has disrupted supplies through the Strait of Hormuz, leaving Pakistan without strategic reserves. The minister said the partnership would help Pakistan meet its energy needs without upfront government spending, though building independent reserve capacity would eventually require substantial investment.

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