Petroleum Minister courts foreign investment in energy, minerals sectors

July 24, 2026 (MLN): Federal Minister for Petroleum Ali Pervaiz Malik has sought expanded foreign investment in Pakistan's energy and critical minerals sectors, holding separate meetings with representatives of leading international energy companies, including US-based Morgan Hughes Energy, Tejara Capital and Vitol Asia.

The talks covered mineral development in Balochistan, oil and gas field optimization, bunkering operations at Gwadar and opportunities under the country's newly introduced bonded storage policy.

In the first meeting, the minister met Morgan Hughes Energy President Gregory Bloom and Tejara Capital CEO Ahmad Waleed to discuss expanding US investment in Pakistan's energy and critical minerals space.

In a separate meeting, he met Vitol Asia CEO Kieran Gallagher and his team to review ongoing cooperation in the petroleum sector, said a press release issued.

Gregory Bloom pointed to Balochistan's potential for critical minerals development, noting that Morgan Hughes Energy and Tejara Capital are partnering on minerals projects while also exploring opportunities in oil and gas, particularly field optimization to lift output from existing assets.

Ali Pervaiz Malik welcomed the interest and reaffirmed the government's commitment to boosting indigenous energy production and facilitating responsible foreign investment in close coordination with relevant stakeholders.

With Vitol, the minister congratulated the company on the successful start of bunkering operations at Gwadar and welcomed its proposal to convert High Sulphur Fuel Oil (HSFO) into Very Light Sulphur Fuel Oil (VLSFO), assuring full government support for the project.

The meeting also touched on bonded storage infrastructure, with the minister noting that discussions with leading global energy companies, including Vitol, are underway as part of efforts to strengthen energy logistics and expand strategic storage capacity.

Both meetings, the ministry said, highlighted Pakistan's push to deepen global energy partnerships and attract foreign investment in support of long-term energy security and economic growth.

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