Pakistan offers Saudi investors tax-free oil storage facilities, refinery opportunities

Pakistan has invited Saudi investors to develop oil storage and refining facilities, including a proposed petroleum complex at Hub, Balochistan, Profit by Pakistan Today reported. The discussions took place on Friday between Petroleum Minister Ali Pervaiz Malik and Saudi Ambassador Dr Rajeh bin Tami Al-Baqami, and covered crude supplies, refinery upgrades and LPG imports.

Malik outlined a newly approved tax-neutral bonded storage policy that would let foreign firms hold commercial petroleum reserves in Pakistan without local tax liabilities. The Hub project is designed for Very Large Crude Carriers and, with guidance from Technip Energies UK, could support energy trade with China and Central Asia. The talks also considered Saudi participation in refinery upgrades for Euro 5 fuel production, while Pakistan is coordinating with Saudi Aramco on additional crude purchases and dedicated LPG shipments.