PSO, Kuwait Petroleum agree to maintain fuel supplies, explore storage and investment opportunities

Pakistan State Oil (PSO) and Kuwait Petroleum Corporation (KPC) have agreed to continue diesel and jet fuel supplies to Pakistan and assess wider commercial cooperation, Profit by Pakistan Today reported on November 12. The agreement was discussed during a PSO delegation’s visit to Kuwait, led by Chief Executive Jawwad Ahmed Cheema. The companies will also review existing supply terms in light of market conditions.

KPC is considering using Pakistan’s port and petroleum storage facilities under the government’s revised Customs Bonded Storage Policy, potentially storing products for local sale or re-export. The parties also discussed cooperation in base oil and lubricants, as well as possible investment in refining, gas, storage and shipping. The storage proposal still requires documentation and coordination with Pakistani government departments, and the broader initiatives depend on further arrangements.