📌 Key Highlights & Quick Takeaways:
- Gulf Bureau (Riyadh / Dubai): Pakistan and Saudi Arabia have agreed to strengthen cooperation in petroleum and minerals sectors, including oil st.
- According to the Ministry of Petroleum, Federal Minister of Petroleum Ali Pervez Malik met with the Ambassador of Saudi Arabia, Dr. Rajh bin Tami.
- In the meeting, the Federal Minister of Petroleum said that Pakistan has approved the Tax Neutral Bonded Storage Policy, under which Saudi compan.
Gulf Bureau (Riyadh / Dubai): Pakistan and Saudi Arabia have agreed to strengthen cooperation in petroleum and minerals sectors, including oil storage, modernization of refineries and energy security.
According to the Ministry of Petroleum, Federal Minister of Petroleum Ali Pervez Malik met with the Ambassador of Saudi Arabia, Dr. Rajh bin Tami Al Baqmi, in which discussions were held on increasing bilateral cooperation between the two countries in the fields of minerals, petroleum and energy.
In the meeting, the Federal Minister of Petroleum said that Pakistan has approved the Tax Neutral Bonded Storage Policy, under which Saudi companies have been offered to establish oil reserves in Pakistan on a commercial basis.
According to Ali Parvez Malik, oil storage facilities in Pakistan will help Saudi Arabia to diversify its shipping risks associated with the Strait of Hormuz and Bab al-Mandab Strait and access Asian markets.
