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Print Print edition: 2023-10-19

Petroleum sector: Pakistan, China sign MoU on $1.5bn investment

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BEIJING: The United Energy Group of China and Pakistan Refinery Limited on Wednesday signed a Memorandum of Understanding for the investment worth $ 1.5 billion in the petroleum sector.

Caretaker Prime Minister Anwaar-ul-Haq Kakar and Federal Energy Minister Muhammad Ali also witnessed the ceremony.

Pakistan Refinery says it has achieved historic production in September

The MoU will help increase the petrol production capacity of the refinery from 250,000 metric tons to 1.6 million metric tons and high-speed diesel from 0.6 million metric tons to 2 million metric tons.

The petrol and high-speed diesel, processed at the refinery, would prove to be an alternative to the costly imported fuel.

China petrol prices petroleum sector Muhammad Ali investments HSD Anwaar ul Haq Kakar

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Fazeel Siddiqui (Overseas Pakistani) Oct 19, 2023 12:49pm
Good to see investments not loan from China.
0
Faisal Kandhro Oct 19, 2023 01:41pm
@Fazeel Siddiqui (Overseas Pakistani), China is largest contributor of FDI each month in Pakistan. But you Imran supporters are bunch of idiots
0
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