Pakistan and Saudi Arabia have discussed expanding cooperation in commercial oil storage, refinery upgrades and energy security, the Petroleum Division said after a meeting in Islamabad on October 30, 2026. Petroleum Minister Ali Pervaiz Malik met Saudi Ambassador Dr Rajeh Tami Albugamy, according to Radio Pakistan and Dawn.
What has Pakistan proposed?
The petroleum minister said Pakistan had approved a tax-neutral bonded storage policy under which Saudi firms could establish commercial oil reserves in Pakistan. Officials described it as an opportunity to diversify routes and improve energy security; the reports did not announce a signed investment agreement or a final project cost.
Where could storage facilities be developed?
Malik referred to a planned petroleum storage and refining complex in Hub, Balochistan, which officials say could accommodate very large crude carriers. The proposal was described as part of Pakistan’s ambitions to serve regional energy supply chains. The announcement did not establish a construction start date or completion schedule for the proposed complex.
What other subjects were discussed?
The talks covered refinery modernisation, additional crude procurement and potential dedicated liquefied petroleum gas shipments. The Saudi ambassador also announced same-day processing of visa applications for Pakistani citizens at the Saudi embassy in Islamabad, according to the official account. Applicants should still check the embassy's current requirements and eligibility before relying on a particular processing time.
What is confirmed and what is not?
The official meeting and announced policy framework are confirmed in the cited reporting. Commercial participation, financing, capacity and commissioning dates remain proposals or matters for future agreement.