Pakistan, UAE Pledge to Boost Cooperation in Petroleum Sector

Staff Report

Pakistan and the United Arab Emirates (UAE) have reiterated to expedite efforts to boost cooperation in petroleum sector.

At present, Pakistan and UAE have a joint venture in Pak Arab Refinery Limited (Parco).

UAE had also a plan to set up another Khalifa Refinery in Balochistan province.

But due to tussle between the PPP government and UAE in the past had led to the halting of the project by the latter.

UAE had also shown interest in setting up oil storage in Pakistan with an investment of 1 billion dollars.

But this project has not been materialized so far.

Federal Minister of Petroleum Musadik Malik and UAE Ambassador Hamad Obaid Ibrahim Salem AlZaabi held a meeting on Friday. Pakistan and UAE Pledge to Boost Trade

Both sides discussed matters of mutual interest during the meeting and declaration.

The Petroleum minister said that the United Arab Emirates and Pakistan have a long-standing relationship and Pakistan values relations with the United Arab Emirates. They also pledged to expand cooperation in the Petroleum Sector.