Karachi: Kuwait Petroleum Corporation (KPC) and Pakistan State Oil (PSO) have reaffirmed their longstanding partnership, agreeing to enhance their cooperation across the energy value chain. This decision was made during a visit by a PSO delegation to Kuwait, where both parties committed to continuing the supply of gas oil and jet fuel, while also exploring new avenues for strategic collaboration.

According to Pakistan State Oil, the discussions involved senior leadership from both organizations, including PSO's CEO Jowad Ahmed Cheema and KPC's CEO and Deputy Chairman, Sheikh Nawaf Saud Al-Sabah. The agreement includes a focus on improving terms and conditions for fuel supply, aligning with current market conditions.

The talks also broached broader business opportunities, such as base oil supplies and lubricant marketing. KPC plans to leverage Pakistan's storage and port facilities under the revised Customs Bonded Storage Policy, facilitating the sale of imported petroleum products in local and regional markets. The remaining formalities are expected to be completed soon with the help of Pakistani authorities.

Additionally, potential KPC investments in Pakistan's energy sector were discussed, spanning refining, storage infrastructure, and logistics. PSO's CEO Jowad Ahmed Cheema expressed optimism about the potential benefits of KPC's interest in Pakistan's infrastructure, emphasizing opportunities to bolster energy security and regional trade.