PSO, Kuwait Petroleum agree to expand 50-year partnership

Pakistan State Oil and Kuwait Petroleum Corporation have agreed to widen cooperation after five decades of ties, Business Recorder reported. Their discussions covered fuel supply, bonded storage, shipping, refining, lubricants and possible investment in Pakistan’s energy sector. Existing gasoil and jet fuel deliveries from Kuwait will continue, with terms to be adjusted to market conditions.

The companies will also examine gasoline and petrochemical supply, while KPC plans to use Pakistani storage and port facilities under the revised Customs Bonded Storage Policy. Stored products could serve local buyers and regional re-export markets, subject to completion of procedures and documentation by relevant Pakistani institutions. PSO chief executive Jawwad Ahmed Cheema said the parties wanted to build a wider strategic relationship, and KPC expressed interest in further cooperation and potential alliances across energy infrastructure and logistics.