PSO, KPC to explore investment in Pakistan’s gas, refining and shipping

November 13, 2026 (MLN): Pakistan State Oil (PSO) and Kuwait Petroleum Corporation (KPC) have agreed to widen their 50-year energy partnership, with both sides set to explore new opportunities in fuel supplies, bonded storage, refining, shipping and investment in Pakistan’s energy sector.

Both companies will continue the existing supply of gasoil and jet fuel from Kuwait to Pakistan, while revising commercial terms in line with current market conditions.

The understanding came out of a meeting between senior officials of the two companies, who discussed deeper cooperation across the energy value chain to meet Pakistan’s rising energy needs and shifting global market conditions.

PSO was represented by Chief Executive Officer Jawwad Ahmed Cheema, Vice President Consumer Business Ghulam Murtaza Shaikh and General Manager Supply Ashar Ansar.

KPC was represented by Chief Executive Officer and Deputy Chairman Shaikh Nawaf Saud Al-Sabah and Managing Director International Marketing Shaikh Khaled Ahmad Al-Sabah, who also heads Kuwait Oil Tanker Company as chief executive officer, said a press release issued.

The two sides also agreed to look into supplies of motor gasoline and petrochemicals to Pakistan, along with cooperation on base oil supplies and lubricant marketing.

On storage, KPC will make use of Pakistan’s storage and port facilities under the government’s recently revised Customs Bonded Storage Policy, which offers a facilitative framework for international suppliers.

Products held under the arrangement can be sold in the domestic market or re-exported to regional markets. Relevant government departments and institutions are expected to complete the remaining procedures and paperwork to put the arrangement into effect.

The companies further agreed to explore possible KPC investments in Pakistan’s energy sector, especially in gas, refining, storage infrastructure, shipping and logistics.

KPC showed interest in building more strategic alliances in the country, and both sides named investment and infrastructure development as key areas for growing the partnership.

The expanded partnership builds on five decades of commercial ties and is aimed at strengthening energy security, diversifying supply arrangements and supporting the long-term growth of Pakistan’s energy sector.

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