{
  "id": 19743095,
  "title": "PSO, Kuwait Petroleum agree to expand 50-year partnership",
  "url": "https://urgent.news/2026/11/13/pso-kuwait-petroleum-agree-to-expand-50-year-partnership",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-13T02:20:42.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40448713/pso-kuwait-petroleum-agree-to-expand-50-year-partnership"
  },
  "original_language": "en",
  "account": "Pakistan State Oil (PSO) and Kuwait Petroleum Corporation (KPC) have extended their five-decade energy partnership, exploring opportunities in fuel supplies, bonded storage, shipping, refining, lubricants, and potential investments in Pakistan's energy sector. This announcement emerged from a meeting between senior officials of both companies, who discussed bolstering commercial ties amid shifting global energy trends and Pakistan's evolving energy needs. The PSO delegation, led by CEO Jawwad Ahmed Cheema and comprising Vice President Ghulam Murtaza Shaikh and General Manager Supply Ashar Ansar, engaged with KPC's CEO and Deputy Chairman Shaikh Nawaf Saud Al-Sabah and Managing Director for International Marketing Shaikh Khaled Ahmad Al-Sabah, the CEO of Kuwait Oil Tanker Company (KOTC).\n\nBoth entities will maintain their existing gasoil and jet fuel supply agreements from Kuwait to Pakistan while optimizing these deals according to market dynamics. Discussions also ventured into supplying motor gasoline and petrochemicals from KPC to Pakistan, along with base oil and lubricant marketing collaborations. A pivotal aspect of the accord involves utilizing Pakistan's storage and port facilities under the government's revised Customs Bonded Storage Policy, enabling KPC to leverage the nation's infrastructure for domestic consumption and export to regional markets.\n\nPreliminary procedures are anticipated to be finalized swiftly to enable the practical application of these provisions. Discussions also delved into prospective investments and strategic alliances from KPC in Pakistan's energy landscape, encompassing gas, refining, storage, shipping, and logistics. KPC's engagement in Pakistan's storage and port facilities could bolster energy security, stimulate regional commerce, and draw investment. PSO CEO Cheema highlighted that this partnership is maturing into a more extensive strategic alliance, transitioning from conventional supply agreements to a broader collaborative framework encompassing fuels, lubricants, storage, logistics, and investments. He affirmed KPC's interest in augmenting energy security, facilitating regional trade, and enticing investment in Pakistan through its involvement.\n\nShaikh Khaled Ahmad Al-Sabah of KPC characterized the collaboration with PSO as one of the most significant in KPC's international portfolio, underscoring the long-standing relationship between Kuwait and Pakistan. He expressed KPC's appreciation for its support of Pakistan's energy demands over the past five decades and its eagerness to deepen commercial and strategic cooperation with PSO. In line with the 50th-anniversary milestone, PSO has extended an invitation for KPC's senior management to visit Pakistan early next year to commemorate this landmark. PSO also recognized the pivotal role of the Pakistan government and its Petroleum Division in implementing policy reforms, notably the updated bonded storage framework, which is facilitating foreign investment in the country's energy arena.",
  "summary": "KARACHI: Pakistan State Oil (PSO) and Kuwait Petroleum Corporation (KPC) have agreed to expand their five-decade energy partnership, exploring cooperation in fuel supplies, bonded storage, shipping, refining, lubricants and potential investments in Pakistan’s energy sector. The understanding was reached during a meeting between senior officials of the two companies, as they discussed expanding…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}