Gunvor eyes bigger role in Pakistan’s refinery, energy sector

August 10, 2026 (MLN): Switzerland-based global energy trading company Gunvor Group has expressed interest in supporting Pakistan’s refinery modernization drive and expanding cooperation across the country’s petroleum sector.

A Gunvor Group delegation comprising Global Head of Portfolio Shahb Richyal, Corporate Affairs Director Seth Thomas Pietras and Head of Corporate Affairs Kashif Mayo held discussions with Federal Minister for Economic Affairs Ahad Cheema on investment and cooperation opportunities in Pakistan’s energy market.

The talks focused on refinery upgrades, petroleum-sector reforms, oil price deregulation, market development and investment opportunities.

Ahad Cheema outlined the government’s efforts to modernize Pakistan’s oil refining infrastructure, stressing that reforms were aimed at improving the sector’s efficiency, competitiveness and long-term sustainability.

The Gunvor delegation expressed willingness to contribute to the refinery upgradation initiative and identify areas for expanded cooperation.

The minister also briefed the delegation on the proposed deregulation of oil prices, describing it as a key reform for developing a more competitive petroleum market. He noted that the policy could receive Cabinet approval soon.

Gunvor officials welcomed the proposed deregulation, saying greater market competition among Oil Marketing Companies (OMCs) could improve efficiency and strengthen the petroleum sector.

Discussions also covered the ongoing reform process at Pakistan State Oil (PSO). Cheema emphasized the need for institutional and operational improvements to strengthen the state-owned oil marketing company and enhance its performance.

The Gunvor delegation also acknowledged the government’s efforts to maintain uninterrupted fuel supplies during the recent Gulf crisis. The officials noted that sufficient fuel remained available in Pakistan despite disruptions and uncertainty in international energy markets.

Cheema said ensuring continuous fuel supplies and maintaining price stability during the crisis posed significant challenges. He added that the government, in coordination with the Oil and Gas Regulatory Authority (OGRA) and other stakeholders, took timely measures to safeguard the domestic fuel supply chain.

The Gunvor representatives further informed the minister that Parco Gunvor Limited (PGL) was expanding its operations and business network in Pakistan.

Cheema welcomed the company’s expansion plans and assured the delegation of the government’s support for legitimate investment and business activities. He said efforts were being made to create a conducive environment for international companies and investors.

The minister also highlighted OGRA’s role in regulating and monitoring the petroleum industry, while outlining the government’s wider reform agenda focused on improving transparency, efficiency, competition and investment in the energy sector.

Both sides agreed to maintain engagement and explore further cooperation in refinery modernization, petroleum-market reforms, investment and market development, with the broader objective of strengthening Pakistan’s energy security and supporting economic growth.

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