28/07/2023
Taking yet another step in energizing the future of Pakistan, the national energy giant – PSO, joined hands with China Road and Bridge Corporation and Monarch Mena to spearhead a consortium of the country’s leading oil & gas players to set up the nation’s largest oil refinery in collaboration with Saudi Aramco.
The consortium, including Pakistan State Oil (PSO), Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), and Government Holdings Private Limited (GHPL) will implement a joint investment strategy, attracting foreign investment from leading oil & gas companies worldwide through equity participation.
The project's objective is to establish an integrated and state-of-the-art USD 10 billion Greenfield Refinery and petrochemical complex in Balochistan, with a minimum processing capacity of 300,000 barrels per day (BPD).
Minister of State for Petroleum Division - Dr. Musadik Malik, shared the project’s benefits including economic growth, exchange rate stability, energy security, job creation, and social progress. Secretary Petroleum, Captain (R) Muhammad Mahmood, highlighted key components of the Greenfield Refinery Policy and expressed the ministry’s unwavering commitment to the development and expansion of the energy sector.
Leading from the front once again, PSO continues to revolutionize Pakistan's energy landscape.
