Saudi minister reaches Gwadar to inspect land allocated for oil refinery

[Shahzaz ud din]

Saudi minister reaches Gwadar to inspect land allocated for oil refinery
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Staff Report
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January 12, 2019
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GWADAR: A Saudi delegation, headed by Saudi Minister for Energy, Industry and Minerals Khalid Abdul Aziz Al Falih, arrived in Gwadar on Saturday to inspect the land allocated for a proposed oil refinery, Radio Pakistan reported. Petroleum Minister Ghulam Sarwar Khan welcomed the visiting delegation.

Speaking on the occasion, Ghulam Sarwar Khan said, “Pakistan and Saudi Arabia have a distinctive relationship,” adding that the state-of-the-art oil refinery is the biggest investment project of Saudi Arabia in Pakistan.

Sarwar said that during the upcoming visit of the Saudi crown prince to Pakistan in February, a memorandum of understanding (MoU) regarding the oil refinery would also be signed.

Pakistan and Saudi Arabia are likely to ink an agreement to install the Saudi Aramco Oil Refinery at the oil city located in Gwadar.

Saudi and Pakistani authorities will also sign a MoU to set up $10 billion oil refinery at the deep seaport which is also the terminal point of the multi-billion-dollar China Pakistan Economic Corridor (CPEC) project.

The Pak Arab Refinery (Parco), a joint venture between Pakistan and Abu Dhabi, is also working on Khalifa refinery project with a total refining capacity of 250,000 barrels per day. At present, Parco is the largest refinery in Pakistan that has a refining capacity of 100,000 barrels per day.

Officials said Saudi Arabia and the UAE had announced the same packages for Pakistan and Riyadh was likely to set up a refinery with a capacity of 250,000 barrels per day. At present, the total refining capacity of Pakistan is around 300,000 barrels per day.

 

[Shahzaz ud din]

Pakistan, KSA set to ink Aramco oil refinery deal: report
ByNews Desk -
January 3, 2019

Pakistan and Saudi Arabia have finalised the memorandum of understanding (MoU) for the construction of the multi-billion-dollar Saudi Aramco oil refinery in Gwadar, according to an Arab News report.

Federal Minister For Information Fawad Chaudhry told the paper that Islamabad is expecting to sign a number of investment deals, including the construction of the mega oil refinery, in February.

“The oil refinery project is the biggest investment project of Saudi Arabia in Pakistan,” he added.

According to the report, Pakistan and Saudi Arabia have lately expressed renewed interest in enhancing bilateral strategic and trade engagements while KSA also pledged $3 billion in a financial assistant to help Pakistan out of its economic woes.

Minister of State and Board of Investment Chairman Haroon Sharif told the paper that a 15-member Saudi delegation visited Gwadar from Karachi as part of the finalisation process of the MoU for Aramco oil refinery.

Pakistan expects $15 billion investment from Saudi Arabia after Prime Minister Imran Khan chose KSA for his maiden visit and consequently made two official visits.

“I am expecting around $15bn investment from Saudi Arabia in the next 3 years. The inflow of investment for oil refinery and petrochemical complex in Pakistan is estimated to be between $6 billion to $10 billion,” the BoI chairman stated, per the report.

 

[CHACHA"G"]

These type of news only force me to think ,,,,,,,,,,,,, We found some thing under Sea or under land ……… Where ? we don't know yet ,,, How big ? still no news ,,,,,,,,,,,,, but we can guess...…………… I am very hopeful .

 

[Maxpane]

just my thinking that may be they are waiting for good news from exon

 

[The Accountant]

Yes significant investment in oil and gas .. soemthing big is coming InshAllah

These type of news only force me to think ,,,,,,,,,,,,, We found some thing under Sea or under land ……… Where ? we don't know yet ,,, How big ? still no news ,,,,,,,,,,,,, but we can guess...…………… I am very hopeful .

 

[Shahzaz ud din]

Pakistan, Saudi Arabia to seal $10b refinery deal on Crown Prince’s visit

• Saudi delegation reaches Gwadar to inspect land for oil refinery

Pakistan
by Web Desk | Published on January 12, 2019 (Edited January 12, 2019)

GWADAR – A Saudi delegation headed by Saudi Minister for Energy, Industry, and Minerals Khalid Abdul Aziz Al Falih arrived in Balochistan’s Gwadar district on Saturday to inspect the land allocated for a proposed oil refinery, the Radio Pakistan reported.

On his arrival, Federal Minister for Petroleum Ghulam Sarwar Khan welcomed the Saudi minister.

Speaking on the occasion, Ghulam Sarwar Khan said that, “Pakistan and Saudi Arabia have a distinctive relationship,” adding that the state-of-the-art oil refinery is the biggest investment project of Saudi Arabia in Pakistan.


السفارة في باكستان - سعودی سفارت خانہ

✔@KSAembassyPK

معالي الوزير المهندس #خالد_الفالح خلال جولة في #ميناء_قوادر التقى خلالها بالمسؤولين عن الميناء واطلع فيها على فرص الاستثمار المتاحة والخطط المستقبلية والمشاريع المستهدفة.
see السفارة في باكستان - سعودی سفارت خانہ's other Tweets
He further said that during the upcoming visit of Saudi crown prince to Pakistan next month a Memorandum of Understanding about the Saudi Aramco Oil Refinery will also be signed

The $10 billion oil refinery at the deep seaport is also the terminal point of the multi-billion dollar China-Pakistan Economic Corridor (CPEC) project.

The Pak Arab Refinery (Parco), a joint venture between Pakistan and Abu Dhabi, is also working on Khalifa refinery project with a total refining capacity of 250,000 barrels per day. At present, Parco is the largest refinery in Pakistan that has a refining capacity of 100,000 barrels per day.


Saudi Arabia and the UAE had announced the same packages for Pakistan and Riyadh was likely to set up a refinery with a capacity of 250,000 barrels per day. At present, the total refining capacity of Pakistan is around 300,000 barrels per day.

The previous Pakistan Muslim League-Nawaz (PML-N) government had allowed the Frontier Works Organization (FWO) to build an oil pipeline from Gwadar to China at an estimated cost of US$10 billion.

Annual demand for petroleum products has been forecasted be 50 million tons in 2030 calculated at the GDP growth of 5% because of the rising demand for oil due to CPEC activities.

The current demand for petroleum products has been estimated at 29.6 million tons in 2018. In 2029-30, the deficit of petrol and high-speed diesel has been estimated to grow to 14 million tons per annum (MTA) and 16 MTA, respectively against the current deficits of 5 MTA and 4 MTA, respectively.

Islamabad also wants Riyadh to invest in mineral sector projects like Reko Diq, oil storages in Gwadar and oil pipeline projects in Pakistan.

Pakistan authorities hope that Saudi Arabia would invest US$15 billion in mineral, oil and gas sector projects. Saudi Arabia has also committed an annual credit oil facility of US$3.2 billion for three years to support Pakistan’s balance of payment.

 

[Cash GK]

Pakistan, KSA set to ink Aramco oil refinery deal: report
ByNews Desk -
January 3, 2019

Pakistan and Saudi Arabia have finalised the memorandum of understanding (MoU) for the construction of the multi-billion-dollar Saudi Aramco oil refinery in Gwadar, according to an Arab News report.

Federal Minister For Information Fawad Chaudhry told the paper that Islamabad is expecting to sign a number of investment deals, including the construction of the mega oil refinery, in February.

“The oil refinery project is the biggest investment project of Saudi Arabia in Pakistan,” he added.

According to the report, Pakistan and Saudi Arabia have lately expressed renewed interest in enhancing bilateral strategic and trade engagements while KSA also pledged $3 billion in a financial assistant to help Pakistan out of its economic woes.

Minister of State and Board of Investment Chairman Haroon Sharif told the paper that a 15-member Saudi delegation visited Gwadar from Karachi as part of the finalisation process of the MoU for Aramco oil refinery.

Pakistan expects $15 billion investment from Saudi Arabia after Prime Minister Imran Khan chose KSA for his maiden visit and consequently made two official visits.

“I am expecting around $15bn investment from Saudi Arabia in the next 3 years. The inflow of investment for oil refinery and petrochemical complex in Pakistan is estimated to be between $6 billion to $10 billion,” the BoI chairman stated, per the report.

saudis will store their petrol here and supply it to china and pakistan.. so they will have upper hand on other petrol sellers

 

[Sully3]

These type of news only force me to think ,,,,,,,,,,,,, We found some thing under Sea or under land ……… Where ? we don't know yet ,,, How big ? still no news ,,,,,,,,,,,,, but we can guess...…………… I am very hopeful .

The cheif of French Exxon already confirmed they had hit oil in Pakistan.

But how much? they didnt say. though he added the discovery so far was enough to meet the needs of Pakistan fo the next 50 years.

 

[The Accountant]

re

saudis will store their petrol here and supply it to china and pakistan.. so they will have upper hand on other petrol sellers

finery is not for storage

The cheif of French Exxon already confirmed they had hit oil in Pakistan.

But how much? they didnt say. though he added the discovery so far was enough to meet the needs of Pakistan fo the next 50 years.

Can you please provide the reference or link to this news ?

 

[Sully3]

re

finery is not for storage

Can you please provide the reference or link to this news ?

i think it was a thread on pdf with some links on there

https://www.petro-online.com/news/a...ws/how-big-is-pakistan39s-oil-discovery/46973

Also Note Exxon is drilling right near the iran border where they have discovered oil. Aramco and UAE will drill somehere else.

 

[The Accountant]

Yes I was active on that thread as well but that was announcement by Pakistani miniter and its not a reliable source ...

Discovery of reserves is not uncommon the importance is of commercially viable reserves ... For example if its a shale gas reserves then probably they will be costlier then price of import ...

Lets hope for the best and pray Allah ...

i think it was a thread on pdf with some links on there

https://www.petro-online.com/news/a...ws/how-big-is-pakistan39s-oil-discovery/46973

Also Note Exxon is drilling right near the iran border where they have discovered oil. Aramco and UAE will drill somehere else.

 

[Clutch]

The cheif of French Exxon already confirmed they had hit oil in Pakistan.

But how much? they didnt say. though he added the discovery so far was enough to meet the needs of Pakistan fo the next 50 years.

Can you please reference that?

i think it was a thread on pdf with some links on there

https://www.petro-online.com/news/a...ws/how-big-is-pakistan39s-oil-discovery/46973

Also Note Exxon is drilling right near the iran border where they have discovered oil. Aramco and UAE will drill somehere else.

From what know what you said is not true. They are drilling off of Karachi here are the coordinates:
24°05'01.3"N 66°46'03.2"E
https://goo.gl/maps/vzLYFnHYJJs

This is the wildcat drill ship info:
https://www.marinetraffic.com/en/ai...msi:311030700/imo:9437359/vessel:SAIPEM_12000

 

[AZ1]

It's not confirm yet that if we Pakistan has oil for 50 years or not. Saudi is making oil refinery to export it to china.

I think there will be pipeline also from gwadar oil refinery to china through which oil will be exported. Pakistan will earn as middle man between the two and oil refinery will be completed in 10 years as it will be huge.

Pakistan will be able to refine oil cheaper with advance tech I guess.

 

[Pakistansdefender]

The cheif of French Exxon already confirmed they had hit oil in Pakistan.

But how much? they didnt say. though he added the discovery so far was enough to meet the needs of Pakistan fo the next 50 years.

Where?
When?
They started drilling a week Ago.
We hope for a big discovery but nothing sure yet.

 

[Jinn Baba]

i think it was a thread on pdf with some links on there

https://www.petro-online.com/news/a...ws/how-big-is-pakistan39s-oil-discovery/46973

Also Note Exxon is drilling right near the iran border where they have discovered oil. Aramco and UAE will drill somehere else.

From the link:

"Critics accuse Pakistan of luring investors with lofty announcements While there is a chance the reserves could top the 100-billion-barrel mark, critics have been quick to point out that nothing is confirmed. Such buoyant announcements are usually designed to attract foreign investment, with a similar move seen in April when Bahrain oil minister Sheikh Mohammed bin Khalifa Al-Khalifa announced that the nation had discovered an estimated 80 billion barrels of oil and up to 20 trillion cubic feet of gas."

So nothing is confirmed, all we have right now is hope.