Pakistan to get oil from Saudi Arabia on credit: petroleum minister

ISLAMABAD: Federal Minister for Petroleum Ghulam Sarwar Khan has confirmed Pakistan’s plan to take oil from Saudi Arabia on credit for five years.

While speaking in the National Assembly on Tuesday, Ghulam Sarwar said the authorities in Saudi Arabia have agreed to Pakistan’s request for oil.

The petroleum minister’s statement came following reports, according to which Pakistan has asked Saudi Arabia for a daily oil supply of 200,000 barrels for five years. It was also said that oil supply on credit was sought for 90 days. However, Ghulam Sarwar told the assembly that Pakistan has made the request for five years.

A day earlier, senators from the opposition parties objected to the government’s invitation to Saudi Arabia to become a partner in the China-Pakistan Economic Corridor and set up an oil refinery in Gwadar.

To this, the petroleum minister said Saudi Arabia expressed interest in setting up a refinery in Balochistan and the government also wished for the same.

He added that talks were under way with the provinces and the Parliament would be taken on board soon.