The Ministry of Energy (Petroleum Division) has refuted reports that Saudi Aramco’s $10 billion Greenfield Refinery project at the Gwadar Port is stalled.
“Some news items reporting refinery project with ARAMCO is facing uncertainty are baseless & contrary to facts. GOP is in continuous consultation with the company on finalizing scope of the project and bringing other potential investors to join,” the ministry said in a tweet on X (formerly Twitter).
Some news items reporting refinery project with ARAMCO is facing uncertainty are baseless & contrary to facts. GOP is in continous consultation with the company on finalizing scope of the project and bringing other potential investors to join.@GovtofPakistan @PTVNewsOfficial
— Petroleum Division, Ministry of Energy (@Official_PetDiv) November 21, 2023
This rebuttal comes after reports in the past few days suggesting that Saudi Aramco was less eager to invest in the Gwadar project.
In July, four leading Pakistani state-owned companies will join hands with Saudi Aramco for the $10 billion Greenfield Refinery project. Upon completion, the is expected to have significant foreign investment from world-class oil & gas giants through equity participation.
The project envisions setting up an integrated refinery petrochemical complex with a crude oil processing capacity of a minimum of 300,000 BPD along with a petrochemical facility in Pakistan.
