• Wednesday, August 5, 2020

UAE to invest $5bn in oil refinery project in Pakistan by end of 2019: report

Discussion in 'Infrastructure & Development' started by AZ1, Oct 4, 2019.

  1. AZ1

    AZ1 SENIOR MEMBER

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    The United Arab Emirates (UAE) will invest $5 billion in an oil refinery project in Pakistan by the end of the year, Arab News reported on Friday.

    In an interview with the publication, UAE Ambassador to Pakistan Hamad Obaid Ibrahim Salem Al-Zaabi said: "We are going to launch very soon one of the biggest investments in a refinery project in Hub. It is going to be a $5 billion investment between Mubadala Petroleum Company of Abu Dhabi, Pak Arab Refinery Limited (Parco) and OMV [OMV Pakistan Exploration Gesellschaft]."

    According to Arab News, Al-Zaabi said the project was a result of "extensive discussions" between Mubadala Petroleum, Pakistan's petroleum ministry as well as Parco and OMV.

    "This project will show the strength of UAE-Pakistan relations and how the UAE is focusing on investment in and future of Pakistan," he was quoted as saying, adding that the two nations were moving forward on new projects and investment.

    The UAE ambassador said that the two governments were "finalising the minute details of this refinery project".

    "Many meetings have taken place regarding this project," he added, sharing that a UAE delegation, headed by the chief executive officer of Mubadala Petroleum, had met with the Board of Investment (BoI) chairman and the petroleum minister during a visit to Pakistan a few months ago.

    "They have discussed this project in detail. We are going to launch it very soon," Al-Zaabi said.

    https://www.dawn.com/news/1508944
     
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  2. GriffinsRule

    GriffinsRule SENIOR MEMBER

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    "This project will show the strength of UAE-Pakistan relations and how the UAE is focusing on investment in and future of Pakistan," he was quoted as saying, adding that the two nations were moving forward on new projects and investment.

    Cant help but wonder if they are worried about losing influence in Pakistan and with our own realignment to look after our interests first and foremost. Comments from their officials about Pakistan and their cozying up with Indians to spite us will remain a stain for a long time to come? Hopefully this is a small step in the right direction
     
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  3. ghazi52

    ghazi52 PDF THINK TANK: ANALYST

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    UAE $5 billion refinery project would be launched by the end of this year

    [​IMG]


    ISLAMABAD: Talks between Pakistan and the United Arab Emirates on an $5 billion oil refinery project have almost completed and the project would be launched by the end of this year, it emerged Friday.

    UAE Ambassador Hamad Obaid Ibrahim Salem Al-Zaabi told Aran News that “we are going to launch one of the biggest investments in a refinery project in Hub very soon”.

    “It is going to be a $5 billion investment between Mubadala Petroleum Company of Abu Dhabi, Pak Arab Refinery Limited (PARCO) and OMV [OMV Pakistan Exploration Gesellschaft],” the envoy quoted as saying.

    Al-Zaabi said the project was the result of extensive discussions between Mubadala Petroleum and Pakistan’s petroleum ministry along with PARCO and OMV.

    The project was finalised during Crown Prince Sheikh Mohamed bin Zayed Al Nahyan’s Pakistan visit earlier this year.

    The discussion are ongoing on the minute details of the refinery project, the enjoy said adding that a delegation headed by Mubadala Petroleum chief, Musabbeh Al Kaabi, visited Pakistan and met with the chairman of board of investment chairman and petroleum minister.
     
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  4. xyx007

    xyx007 FULL MEMBER

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    A welcome move but the 225 million brave, patriotic and dedicated people of the Islamic Republic of Pakistan want the brotherly Muslim country of UAE to fully, unconditionally and unequivocally condemn the blatant Indian aggression, occupation and annexation of the helpless, trifle, feeble, weak and hapless land and people of Jammu and Kashmir and revoke its recent award of civilian medal to the "Butcher of Gujarat" and Live member of terrorist org of RSS and it is really unfortunate to India, Modi RSS terrorist become Indian PM. what a wall of shame for India.
     
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  5. CHACHA"G"

    CHACHA"G" SENIOR MEMBER

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    With respect !! what did Pakistan did when UAE asked help in Yemen?
    And remember endia have a big market so defiantly business interests first .. and to counter endia - iran , GCC almost bought sanghi endia with $$$$ …….. SO strategic interest also have a big role ..
    @Khafee thank you bros , I hope this metalize soon . This will bring down Pakistan's Oil import bill (we are importing refined oil that increase cost ) ..
     
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  6. Haris Ali2140

    Haris Ali2140 SENIOR MEMBER

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    We lost GCC ourselves and it has nothing to do with Yemen war.
     
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  7. xyxmt

    xyxmt BANNED

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    you are not suppose to help anyone doing aggression, specially to kill other Muslims
     
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  8. POTTER

    POTTER FULL MEMBER

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    Admins Bhaio idhar aik aadmi ny post ki thee k Hum arabs ko fatah kar lelin gy aur unko chains mein laein gayy. Jubb mainy kaha k iran ko bhi fatah karo gyy to post delete ho gai.
    Sarkaar ye kiya mazaak hai??? Bheek bhi unhe sy mangni aur Fatah bhi unhein karna. Aur iran k uthana. Ye fair ni hai Jnb.
     
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  9. American Pakistani

    American Pakistani ELITE MEMBER

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    How many times do I have to tell people here. Yemen was Muslim killing Muslim in not a disputed territory.

    IOK is Hindutva terrorists killing, raping Kashmiris Muslims in disputed territory.

    Seems like people will even hold Pakistan responsible if a theif stole and kill from an Emirati or Saudi house.

    Anyways a welcome investment. Don't wanna say much about amount. For now any amount is welcome.
     
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  10. SkyWolf

    SkyWolf FULL MEMBER

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    We neither won nor lost uae. Its all about economics. The ummah principle eventually runs out of petrol. Pun intended. We better get our economy going.
     
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  11. CHACHA"G"

    CHACHA"G" SENIOR MEMBER

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    Can you tell this to Iran ???

    So we can let Muslims kill Muslims ?? Even when we are in position to stop it or control the damage ??

    cant you get it ?? aaray bhai ess aik incident say he samjh loo kiya chal raha hai idher..
     
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  12. American Pakistani

    American Pakistani ELITE MEMBER

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    We tried to warn Saudis and Emiratis, but they decided to go ahead and we saw what happened.
     
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  13. Starlord

    Starlord ELITE MEMBER

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    KSA and Emirati wants Pakistan to join in offensive, not to stop the war .. why you think they ask for PA regular infantry troops ?
     
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  14. CHACHA"G"

    CHACHA"G" SENIOR MEMBER

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    Even if they did , I am sure if we went in in early days of war we might have finished it early , less chance and time for iran to play dirty game and KSA have to play by our rules ….. It only depend how you look at this war …
    I am 10% sure if we went in death count will be at minimum and we also can do it in less time (surly don't need or took years)..
     
  15. American Pakistani

    American Pakistani ELITE MEMBER

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    You should be faithful to Pakistan, not Saudis, Emiratis, Iranis, or any xyz. If Pakistani govt decided against it, no need to spread negative thoughts over it. Unlike you, govt decisions might be based on over seeing multiple conditions and scenarios and situations. Military might have also ruled against it.

    I don't think Saudis might ve remembered it now. Just like they forgot how we fought Israel for Arabs. They nullified Pakistani doctors and brought other restrictions and invested heavily in India.

    Be it Saudis, Gulfis or Iranis, they all work for their individual interests. Unlike us. While Pakistan supported its bradars.