Pakistan launches study for Strategic Petroleum Reserves to boost energy security

According to Business Recorder, Federal Petroleum Minister Ali Pervaiz Malik chaired the launch meeting on Tuesday for a feasibility study on Strategic Petroleum Reserves. Wood Mackenzie, an international energy consultancy, won the assignment after a competitive tender drew four bids. The participants were briefed on the study's scope and objectives, then agreed on its timelines and overall framework.

Malik said the government is working on reforms and initiatives to strengthen energy security, which he tied to national security. He added that the Strait of Hormuz episode had increased the need for bigger buffers and resilience against supply interruptions. In his view, the study is a meaningful step toward judging how the country can prepare for possible supply shocks.

The study will assess technical feasibility, safety and operating conditions of proposed storage sites, alongside international benchmarks and regulatory requirements. Legal and financial arrangements, including possible public-private partnership models, will also be examined, as will existing infrastructure that could serve storage needs. Cost estimates, financing routes, timelines and institutional roles for a phased build-out are to be provided, and a steering committee will track progress at intervals. The minister has directed all stakeholders to cooperate fully and supply data on time.