Pakistan’s State Oil Company (PSO) has announced that it is currently in process to enter in an agreement with Turkish Petroleum International Company for sale and purchase of petroleum products.

The agreement is an extension of a Memorandum of Understanding (MoU) already signed between the two countries on February 23, 2017.

They said a draft term sale/purchase agreement for petroleum products has already been prepared and shared with the Turkish company to materialize the deal, adding that negotiations between the PSO and TPIC were expected to start soon, acceding to APP.

The negotiations from PSO side would be led by the Price Negotiation Committee which has been constituted by its Board of Management.