Saudi Arabia May Invest $10 Billion in Gwadar Oil Refinery Project
Islamabad:Saudi Arabia is reportedly considering a major investment of around $10 billion for the establishment of an oil refinery in Gwadar, according to official and industry sources.
Sources said that Saudi oil giant Saudi Aramco is planning to develop the refinery in collaboration with Pakistani energy companies.
The local partners are expected to include Pakistan State Oil (PSO), Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), and Government Holdings (Private) Limited (GHPL), which may collectively hold a 40 to 45 percent stake in the project.
The proposed refinery is expected to have a production capacity of up to 400,000 barrels per day, making it one of the largest industrial energy projects in the region.
Sources also indicated that a 20-year tax exemption is being considered as part of incentives to attract investment and ensure project viability.
If finalized, the project could significantly boost Pakistan’s refining capacity, reduce dependence on imported petroleum products, and strengthen economic activity in Gwadar.
