Saudi Arabia plans to set up a $10 billion oil refinery in Pakistan\u2019s deepwater port of Gwadar, the Saudi energy minister said on Saturday, speaking at the Indian Ocean port that is being developed with the help of China.<\/p>\n
Pakistan wants to attract investment and other financial support to tackle a soaring current account deficit caused partly by rising oil prices. Last year, Saudi Arabia offered Pakistan a $6 billion package that included help to finance crude imports.<\/p>\n
\u201cSaudi Arabia wants to make Pakistan\u2019s economic development stable through establishing an oil refinery and partnership with Pakistan in the China Pakistan Economic Corridor,\u201d Saudi Energy Khalid al-Falih told reporters in Gwadar.<\/p>\n
He said Crown Prince Mohammad bin Salman would visit Pakistan in February to sign the agreement. The minister added that Saudi Arabia would also invest in other sectors.<\/p>\n
Saudi Arabia prepared for their opening Asian Cup match against North Korea in Group E, with head coach Juan Antonio Pizzi and striker Salem Al Dosary facing the press.<\/p>\n
Beijing has pledged $60 billion as part of the China Pakistan Economic Corridor that involves building power stations, major highways, new and upgraded railways and higher capacity ports, to help turn Pakistan into a major overland route linking western China to the world.<\/p>\n
\u201cWith setting up of an oil refinery in Gwadar, Saudi Arabia will become an important partner in CPEC,\u201d Pakistan Petroleum Minister Ghulam Sarwar Khan said. It said Falih would finalise arrangements ahead of signing memorandums of understanding.<\/p>\n","protected":false},"excerpt":{"rendered":"
Saudi Arabia plans to set up a $10 billion oil refinery in Pakistan\u2019s deepwater port of Gwadar, the Saudi energy minister said on Saturday, speaking at the Indian Ocean port that is being developed with the help of China. Pakistan wants to attract investment and other financial support to tackle a soaring current account deficit […]<\/p>\n","protected":false},"author":1,"featured_media":52510,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[87],"tags":[],"class_list":["post-52509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/52509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=52509"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/52509\/revisions"}],"predecessor-version":[{"id":52511,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/52509\/revisions\/52511"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/52510"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=52509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=52509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=52509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}