Petroleum division kicks off feasibility study on strategic reserves

The government of Pakistan has initiated a feasibility study on strategic petroleum reserves (SPR) with the help of international consultancy firm Wood McKenzie. The study, which was selected through a competitive tender process, aims to assess the country's preparedness for potential supply shocks and strengthen its energy security.

Federal Minister for Petroleum Ali Pervaiz Malik attended the kick-off meeting, where the scope and objectives of the study were discussed, along with timelines and overall architecture. The initiative comes in the wake of recent supply disruptions, such as the crisis in the Strait of Hormuz, highlighting the need for a resilient energy supply system.

The study will cover various aspects, including technical feasibility, safety, operational assessment, and implementation options, with the goal of providing a pragmatic and implementable solution tailored to Pakistan's specific requirements.

Brief written by urgent.news from Dawn's own syndicated text. Machine-written — may contain errors; check the original before relying on it.