Riyadh Energy Forum: Govt says crisis extends beyond oil and gas to shipping and insurance

Federal Petroleum Minister Ali Pervaiz Malik attended the 17th International Energy Forum Ministerial Meeting in Riyadh, according to Business Recorder. In his plenary address he said Pakistan stood with Saudi Arabia during a difficult period, and he condemned Houthi militia attacks on Saudi soil while offering condolences for the lives lost.

On the sidelines, Malik discussed crude oil supply with Libya's oil and gas minister, and said Pakistan's refineries had been asked to consider Libyan crude purchases. He also held talks with Qatar's energy minister on LNG cooperation, while Turkish Energy Minister Alparslan Bayraktar said he expected to visit Pakistan next month to receive a TPAO seismic vessel for Indus Basin data acquisition.

Malik told the forum that the 2026 global energy supply shock reached shipping and insurance as well, and that Pakistan avoided rationing major energy sources despite heavy import reliance. He outlined plans for strategic reserves, a bonded reserves scheme, refinery and tank farm infrastructure, and more competitive electricity and gas markets.