Pakistan, which relies on the Strait of Hormuz—a region of high tension—for 90% of its oil and gas imports, has decided to create its first-ever national strategic oil reserve.
elchi reports that this was stated by the “Nikkei Asia” publication, citing a Pakistani government official.
To this end, the Islamabad administration is discussing the construction of special customs-bonded terminals in relevant areas, including the Gwadar port, with Saudi Arabia, the UAE, China, Kuwait, and Qatar. The country, whose daily oil demand far exceeds its production, aims to accumulate an initial 45-day and subsequently a 90-day critical fuel reserve through levies collected on every liter of fuel in the domestic market.
Məryəm