Saudi Arabia to Set Up $10B Oil Refinery in Pakistan 

Saudi Arabia plans to set up a $10 billion oil refinery in Pakistan's deepwater port of Gwadar, the Saudi energy minister said Saturday, speaking at the Indian Ocean port that is being developed with the help of China. 

Pakistan wants to attract investment and other financial support to tackle a soaring current account deficit caused partly by rising oil prices. Last year, Saudi Arabia offered Pakistan a $6 billion package that included help to finance crude imports.  

“Saudi Arabia wants to make Pakistan's economic development stable through establishing an oil refinery and partnership with Pakistan in the China Pakistan Economic Corridor," Saudi Energy...

Read More »

By: VOA - Saturday, 12 January

Related Posts