$15 billion investment package likely from UAE including mega oil refinery in Pakistan

[rak_987]

Pakistan's total demand is around 450000 barrels per day.

 

[maverick1977]

Pakistan's total demand is around 450000 barrels per day.

Based on this data, that’s exactly the peak output of existing oil refineries... more are under construction as demand increases.
And idiot nathanbob is saying, “I don’t see a need for two big oil refineries” ... so many trolls here, out of hatred for Pakistan will say shit without any facts... they just can see Pakistan progressing ... remember this Pakistan is here to stay and to be prosperous ...

 

[Norwegian]

Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed bin Sultan Al-Nahyan paid a quick visit to Islamabad on Sunday ─ his first in nearly 12 years ─ and met the prime minister and other top officials as both countries seek to capitalise on the fresh momentum in ties due to a flurry of recent contacts at the leadership level.

Pakistani and United Arab Emirates leadership have met thrice now in three months. Prime Minister Imran Khan visited the UAE twice after assuming office in August to seek economic assistance. Both countries last week finalised the terms and conditions of a $6.2 billion support package for Islamabad to help address the balance of payments crisis.

A joint statement issued after the UAE royal's visit said Prime Minister Khan thanked the crown prince for the "generous" balance-of-payments support of $3 billion, which appears to have materialised first out of the total financial package.

Crown Prince Sheikh Mohammed bin Zayed, who last visited Pakistan in 2007, was given a red carpet welcome and a 21-gun salute when he touched down at Nur Khan airbase around noon today amid much fanfare in the capital.

Billboards displaying the crown prince's face and positive messages about Pak-UAE ties were put up across the city to welcome the visiting dignitary. A troupe of folk musicians and cultural dancers also put on a small show to receive him.

Prime Minister Imran Khan hugged the crown prince as he stepped off the plane and then, setting aside protocol, drove him personally to PM House where a welcome ceremony honouring him was held.

At PM House, a guard of honour was presented by a contingent of the armed forces to the visiting dignitary, who reviewed the parade. The national anthems of both countries were played, and Sheikh Mohammed bin Zayed was given a fly-past by an impressive formation of JF-17 fighter jets.

The crown prince also met members of the premier's cabinet at the ceremony, including Foreign Minister Shah Mahmood Qureshi, Finance Minister Asad Umar, Information Minister Fawad Chaudhry, Adviser to the Prime Minister on Commerce Abdul Razak Dawood, Power Minister Omar Ayub Khan, Planning and Development Minister Khusro Bakhtiar, Minister of State for Interior Shahryar Afridi, and Special Assistant to Prime Minister on Overseas Pakistanis Zulfi Bukhari.

Soon after his arrival, Sheikh Mohammed bin Zayed held a one-on-one meeting with Prime Minister Khan.

Following that, the visitors held delegation-level talks with the Pakistan side. Premier Khan led the Pakistani delegation comprising Qureshi, Umar, Chaudhry, Afridi and Foreign Secretary Tehmina Janjua, while Sheikh Mohammed led the UAE side.

Both delegations discussed bilateral relations and matters of mutual, regional and international interest.

The crown prince left for the UAE around 3pm after the whirlwind back-to-back meetings. Before departure, the foreign dignitary was presented a photo album depicting his engagements during the brief visit.

The new support package from the UAE is the same size and has the same terms and conditions as those given by Saudi Arabia, according to a cabinet member who earlier spoke to Dawnregarding the development.

With the new package, Pakistan will save a total of about $7.9bn on oil and gas imports from the two friendly countries, accounting for over 60pc of the annual oil import bill amounting to roughly $12-13bn.

This includes about $3.2bn each of oil supplies on deferred payments from the UAE and Saudi Arabia and about $1.5bn trade finance from the International Islamic Trade Finance Corporation (ITFC).

The total financing support from the UAE and Saudi Arabia, including the ITFC’s trade finance, is to be around $13.9-14bn when cash deposits of $3bn each from the two countries are also included, according to the cabinet member.

Additionally, a deep-conversion oil refinery is to be set up by Parco — a joint venture of Pakistan and Abu Dhabi — worth $5-6bn at Khalifa Point and an expected petro-chemical complex by Saudi Arabia at Gwadar Oil City

 

[ziaulislam]

This year is crucial PTI needs to get solid investment deals going and will need to assess the next 6 months data to see if needs IMF..i think there was delay export pacakage by couple of months and gas was miss management..we have issues of what to do with furnace oil and financial crisis ..

 

[ali_raza]

Based on this data, that’s exactly the peak output of existing oil refineries... more are under construction as demand increases.
And idiot nathanbob is saying, “I don’t see a need for two big oil refineries” ... so many trolls here, out of hatred for Pakistan will say shit without any facts... they just can see Pakistan progressing ... remember this Pakistan is here to stay and to be prosperous ...

demand can increase exponentially if availability increases

 

[nahtanbob]

Explain please or else I am going to call you an idiot Troll and everyone here will label you that



And let’s just visit mr troll or jealous burnol pith, why Pakistan needs oil refinery

1) dont have to pay extra money for someone else to process crude oil for Pakistan ... Pakistan will save billions of $ in long run. Most likely it will ROI will be few years and this investment will go a long way for UAE and saudis and also, Pakistan will save money by processing locally.

2) Pakistan can increase its war fighting reserves from 30 days knowing that its processing capabilities are in house and in terms of changes its demand can locally process crude oil and hence, saving money in supply chain by ordering from international players.

3) in war time navy will not have immense pressure to keep the oil lines open and even if processed fuel is torpedoes Pakistan can rely on its local reserves.

4) as demand will increase local power plant expansion will take place.

5) more jobs are created for people in Baluchistan and state and federal government can tax people

6) more prosperity for the people of Pakistan with more jobs

7) new chemical plants will prop up and can demand processed fuels for things like poly ethanol’s, this is just one example.

8) industrial complex will prop up, new urban planning, railroad and infrastructure... prosperity will increase and hence more taxation..

9) demand forecast is the reason why these refineries will come up ... remember a sore thump up India’s behind called CPEC.

After saying all this you moron, go F yourself...

if it happens it is good for you

fyi how many jobs do you think a large modern refinery employs ?

 

[Trango Towers]

there are no need for Saudi and UAE oil refinery at the scale being mentioned

What do u know that the whole of pakistan doesnt

you are experts at spending other people money

Oh dear...

 

[maverick1977]

if it happens it is good for you

fyi how many jobs do you think a large modern refinery employs ?

I am not in planning and commission team... there are always direct and indirect job Ac... indirect will be a lot more than direct ... from food to transport to housing ...

You are such a hater... Pakistan will exist and will one day take you down ...,there is no place for haters in this world

 

[ziaulislam]

I do not see Pakistanis needing two large oil refineries unless you become a South Korea overnight.

Investing in oil refinery to meet domestic needs is one thing. Pakistan has an oil refinery.
https://en.wikipedia.org/wiki/Pakistan_Refinery

Oil refineries require huge capital outlays. It generates few jobs. it is a low margin business.

As far as Indian exports of refined petroleum products it is a small percentage of overall production. their domestic market is huge.

Pakistan has no MODERN refineries not a single one..it doesnt know what to do with furnace oil

I left the word " modern"..even u can set up refinery at home just like ISIS did in iraq but we are talking about petro chemical refinery

Another topic on false reports. There is nothing mentioned about $15 billion investment. For now UAE will keep 3 billions in state Bank of Pakistan for an year or two and Pakistan will get around $3 billion oil from UAE on deferred payment whose final contract is in final stages. Anything else is/are false reports.

No official announcement but same was true for saudi and uae package couple of months ago...finalizing the deal will take months to years..but i am sure that it will come...as Pakistan investment prospective are far higher than depositing cash that we may not pay bacj

 

[ziaulislam]

on floor of parliament mushaid said that "PM went begging all over the world, twice to sauids and not a penny was given"..imagine what will the saudis and Chinese think of them being so insensitive

 

[AZ1]

I heard in news if we have refinery and crude oil we will be able to save $3 billion per year by just refining of the crude oil.

 

[ziaulislam]

if it happens it is good for you

fyi how many jobs do you think a large modern refinery employs ?

500 only however associated petrochemical industry can employ 1000s

I heard in news if we have refinery and crude oil we will be able to save $3 billion per year by just refining of the crude oil.

Actually more the whole chemical industry is absent
Same is true for steel mills

 

[GumNaam]

there are no need for Saudi and UAE oil refinery at the scale being mentioned

there is if you account in for the oil that will be exported to China. Pakistan's oil needs are tiny compared to the oil demand from China and SCS is becoming too hot and takes too long for China to wait for the oil to reach it. These refineries will give 2 advantages...faster oil supply to China AND no fear of a hostile blockade of oil supply.

 

[Syed1.]

there is if you account in for the oil that will be exported to China. Pakistan's oil needs are tiny compared to the oil demand from China and SCS is becoming too hot and takes too long for China to wait for the oil to reach it. These refineries will give 2 advantages...faster oil supply to China AND no fear of a hostile blockade of oil supply.

Need to build oil pipeline from Gwadar to China border. Transporting the oil by tankers is costly and inefficient.

 

[GumNaam]

Need to build oil pipeline from Gwadar to China border. Transporting the oil by tankers is costly and inefficient.

I believe that pipeline (or railway) is in the planning...but for now, oil tankers would have to suffice...it'll still be faster and cheaper than getting it shipped through the arabian sea to the indian ocean and through the SCS.