News Post
Saudi Aramco’s planned oil refinery in Gwadar makes progress.
The land allocation process for Saudi Aramco’s planned $10 billion refinery near the port of Gwadar should be completed in a couple of months, according to Gwadar Development Authority Director-General Shahzeb Khan Kakar.
This refinery has a potential capacity for 300,000 barrels per day upon its eventual completion, which is currently expected in the 2030 timeframe. This project was announced in early 2019, and this statement on land allocation furthers this movement as Saudi Aramco hopes to establish this refinery in Pakistan with the help of China in the China Pakistan Economic Corridor (CPEC).
Pakistan spends over $16 billion annually in petroleum imports, and this refinery is designed to help the country reduce its annual crude imports by as much as $3 billion annually.
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