Pakistan introduces study to establish strategic petroleum reserves

Pakistan has started a feasibility study on creating Strategic Petroleum Reserves, Mettis Global reported, and has picked Wood Mackenzie from four competing bids. Ali Pervaiz Malik, Federal Minister for Petroleum, led the kick-off session, where officials examined the aims, scope, schedule and suggested structure of the work. Attock Refinery Limited was among the organisations that sent representatives to the meeting.

The minister argued that energy security is a central government priority, linking the resilience of supplies to national security and to reducing exposure to outside disruptions. He pointed to the recent disruption around the Strait of Hormuz as a reason to build stronger buffers against supply interruptions. The study is meant to give the government an evidence-based assessment before any major strategic investment is committed.

The consultant will examine technical feasibility, safety, integrity and operating needs of storage facilities, benchmark international models and review policy, legal and financial frameworks. It will also assess existing and possible infrastructure, estimate capital expenditure, explore financing options and set out implementation timelines. A steering committee is to be formed to monitor progress, and relevant stakeholders have been directed to supply data to Wood Mackenzie.