Petroleum division kicks off feasibility study on strategic reserves
ISLAMABAD: The government on Tuesday kicked off a feasibility study regarding strategic petroleum reserves (SPR) through international consultancy firm Wood McKenzie. Federal Minister for Petroleum Ali Pervaiz Malik today chaired the kick-off meeting with Wood Mackenzie, which was selected to undertake the study following a competitive tender process that attracted four bids. Wood Mackenzie Vice…
The Pakistani government initiated a feasibility study on strategic petroleum reserves (SPR) through international consulting firm Wood McKenzie on Tuesday. Federal Minister for Petroleum Ali Pervaiz Malik led the meeting with Wood Mackenzie representatives, who were selected after a competitive tender process. The study aims to assess the government's ability to strengthen Pakistan's energy security and resilience against supply disruptions, particularly in light of recent events in the Strait of Hormuz.
The meeting discussed the study's scope, objectives, timelines, and overall architecture. The study will evaluate technical feasibility, safety, operational assessment, policy requirements, financial considerations, and implementation options, including potential public-private partnership models. The government plans to boost domestic storage for crude oil and refined products to enhance energy security and reduce vulnerabilities to external shocks.
Written by urgent.news from Dawn Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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