$15 billion investment package likely from UAE including mega oil refinery in Pakistan

[Indus Pakistan]

sorry it is not enough time to fix human resource aspects of the pakistani economy

Of course. The cliche 'Rome was not ...' comes to mind but at least the country can change direction and begin the long march to progress.

 

[Yankee-stani]

I remember back in early 1990s seeing a report about Turkish workers fixing the Russian Duma building after the Boris/army shootout. A Turkish company had won the contract. This is sort thing we need to nurture in Pakistan. A experianced, competitive construction sector that wins even contracts aboard. Instead of our workers running across borders as illegal migrants or being cannon fodder for some Islamist cause somewhere.[/QUOTE]

Ironic in the same time China started doing those massive constriction projects in Central Asia, and East Asia and slowly started in the Mid East and Africa, Turks as well both of them benefited from the fall of the USSR and quickly established relations and links with the former Soviet Republics and other former Soviet states for goods and construction contracts s..it Pakistan could have jumped in but Nawaz and Bhutto only focused on staying in power and "muh ummah" prevented that India did not got in the game until the mid to late 2000s

 

[nahtanbob]

5 Jan, 2019

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ISLAMABAD - Pakistan is likely to get $ 10 -15 billion investment package from UAE , likely to be announced during the visit of Crown Prince

READ MORE:PM Imran Khan held joint press conference with Turkish President Tayyip Erdogan
Pakistan is likely to get oil worth $3.2 billion on deferred payments from United Arab Emirates this month, sources informed Geo News Friday.

Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed bin Sultan Al-Nahyan is expected to announce the facility for Pakistan during his visit to the country starting January 6.


READ MORE:Pakistan Army inducts indigenous built Multiple Launch Rocket system in Artillery Corps
They said Pakistan is also likely to get $1.5 billion loan from Islamic Development Bank's International Islamic Trade Finance Corporation (ITFC) for the import of liquefied natural gas (LNG) on deferred payment facility.

Currently, Pakistan is importing LNG worth $4.5 billion annually.

READ MORE:PM Imran Khan meets President Tayyip Erdogan
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The sources added that Pakistan, in collaboration with the UAE , is also starting construction of Parco Coastal Refinery in Balochistan worth over $5 billion.

It is pertinent to mention here that Prime Minister Imran Khan had twice visited the UAE last year, where he had held meetings with Emirati leadership.

In December 2018, the UAE announced that it would deposit $3 billion in the State Bank of Pakistan (SBP) to support the country’s financial and monetary policy.

there are no need for Saudi and UAE oil refinery at the scale being mentioned

 

[American Pakistani]

there are no need for Saudi and UAE oil refinery at the scale being mentioned

A bengali should not be concerned.

 

[nahtanbob]

A bengali should not be concerned.

you are experts at spending other people money

 

[ziaulislam]

there are no need for Saudi and UAE oil refinery at the scale being mentioned

Why?
Pakistan doesnt has a single refinery and has projected requirements of 1 million barrels by 2025?

You do know that india biggest export commodity is refined oil..so though tough competition a deep port refinery might be able to break in south east asian market as well

Pakistan has arranged almost 20b $ in bilateral deals ...it might be able to skip IMF
But asian bank and world bank will be crucial..so we need uncle sam blessing here

6(UAE)+6(Saudi)+3?(possible deferred extra saudi)+1.5?(IDF)+3(Chinese)+3?(qatar LNG deferred payments less likely though )

It has 6 months to reign in reforms to fix fiscal deficit taxation and enterprise loses..lets see how it does

6months by any definition is very short period especially when Pakistan is battling to keep the growth rate above 5%

Last time when PMLN bankrupted Pakistan we had 3 years period of less than 2% growth

 

[nahtanbob]

Why?
Pakistan doesnt has a single refinery and has projected requirements of 1 million barrels by 2025?

I do not see Pakistanis needing two large oil refineries unless you become a South Korea overnight.

Investing in oil refinery to meet domestic needs is one thing. Pakistan has an oil refinery.
https://en.wikipedia.org/wiki/Pakistan_Refinery

Oil refineries require huge capital outlays. It generates few jobs. it is a low margin business.

As far as Indian exports of refined petroleum products it is a small percentage of overall production. their domestic market is huge.

 

[Sully3]

you are experts at spending other people money

And that has got what to do with a Bengali ?
Is it your money ?

Mind ur own business

 

[maverick1977]

there are no need for Saudi and UAE oil refinery at the scale being mentioned

Explain please or else I am going to call you an idiot Troll and everyone here will label you that

I do not see Pakistanis needing two large oil refineries unless you become a South Korea overnight.

Investing in oil refinery to meet domestic needs is one thing. Pakistan has an oil refinery.
https://en.wikipedia.org/wiki/Pakistan_Refinery

Oil refineries require huge capital outlays. It generates few jobs. it is a low margin business.

As far as Indian exports of refined petroleum products it is a small percentage of overall production. their domestic market is huge.

And let’s just visit mr troll or jealous burnol pith, why Pakistan needs oil refinery

1) dont have to pay extra money for someone else to process crude oil for Pakistan ... Pakistan will save billions of $ in long run. Most likely it will ROI will be few years and this investment will go a long way for UAE and saudis and also, Pakistan will save money by processing locally.

2) Pakistan can increase its war fighting reserves from 30 days knowing that its processing capabilities are in house and in terms of changes its demand can locally process crude oil and hence, saving money in supply chain by ordering from international players.

3) in war time navy will not have immense pressure to keep the oil lines open and even if processed fuel is torpedoes Pakistan can rely on its local reserves.

4) as demand will increase local power plant expansion will take place.

5) more jobs are created for people in Baluchistan and state and federal government can tax people

6) more prosperity for the people of Pakistan with more jobs

7) new chemical plants will prop up and can demand processed fuels for things like poly ethanol’s, this is just one example.

8) industrial complex will prop up, new urban planning, railroad and infrastructure... prosperity will increase and hence more taxation..

9) demand forecast is the reason why these refineries will come up ... remember a sore thump up India’s behind called CPEC.

After saying all this you moron, go F yourself...

 

[RIP Pak LAW]

Another topic on false reports. There is nothing mentioned about $15 billion investment. For now UAE will keep 3 billions in state Bank of Pakistan for an year or two and Pakistan will get around $3 billion oil from UAE on deferred payment whose final contract is in final stages. Anything else is/are false reports.

 

[ghazi52]

Abu Dhabi likely to invest $1b in oil storages, pipeline

January 6, 2019

ISLAMABAD: Pakistan and Abu Dhabi are likely to sign a deal for investment of $1 billion by the emirate in setting up oil storages at Gwadar Port and laying a white oil pipeline during visit of Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al-Nahyan beginning on Sunday.

United Arab Emirates (UAE) had agreed to invest $1 billion through Mubadala, a global investment company. With this capital injection, the total UAE assistance and investment package for Pakistan will rise to $7.2 billion. It also includes a $3.2-billion oil credit facility and $3 billion in cash support for balance of payments.

Abu Dhabi has already invested in Pak Arab Refinery (Parco) in joint-venture partnership with Pakistan government and it is the largest oil refinery in Pakistan. Parco is also setting up a coastal oil refinery in Balochistan and is seeking financing for pouring capital into the project.

However, Pakistan’s government is looking for funding for oil storage and white oil pipeline projects.

Officials revealed that during negotiations with Abu Dhabi authorities in the UAE, Pakistan accorded priority to establishing oil storage facilities at Gwadar Port and building a white oil pipeline between Sheikhupura and Peshawar.

Abu Dhabi agreed to invest in these two projects but Parco management was lobbying to divert the funding to its new coastal refinery project in Balochistan.

The Economic Coordination Committee (ECC) has already approved a tariff for the white oil pipeline. The ECC was told that the quoted composite tariff was about 60% lower than the present trucking rate. It would lead to savings of Rs 100 billion for the national exchequer, bring the cost down for oil consumers and reduce the number of accidents involving oil tankers.

In the past, some oil tankers had met fatal accidents in which hundreds were killed and these could be avoided in future after the laying of the white oil pipeline, which would provide a safe and efficient way for the supply of petroleum products.

 

[qaisar]

there are no need for Saudi and UAE oil refinery at the scale being mentioned

What you think why saudis and Emiraties ard so keen to invest in an oil refinery in Gawadar ?
They are known for their sounc business minded approach.
You think they are investing 10-15 billion $$ without realising actual prospects of the project ??

And why they need an oil refinery at Gawadar and not in karachi ?
The answer is.. chinese market .
After meeting pakistani demand, they can also sell their products to chinese, under CPEC umbrella it will be easier.
And last but not least, Pak needs more oil refineries to secure its fuel supplies (finished products) and stockpiles in case of any war or blockade.

 

[Maxpane]

nothing 15 billion.

 

[rak_987]

I do not see Pakistanis needing two large oil refineries unless you become a South Korea overnight.

Investing in oil refinery to meet domestic needs is one thing. Pakistan has an oil refinery.
https://en.wikipedia.org/wiki/Pakistan_Refinery

Oil refineries require huge capital outlays. It generates few jobs. it is a low margin business.

As far as Indian exports of refined petroleum products it is a small percentage of overall production. their domestic market is huge.

Rofl Bangladesh economy even bigger than indian on growth yet no refinery built in 50 years of its creation. The only refinery in the country was built by Ayub Khan called Eastern Refinery.

There is a difference between importing crude oil and refined petroleum. Refinery does'nt refine petrol only it makes multiple products. Propane, Butane, naphtha, jet, diesel. asphalt used in roads, etc... Pakistan imports refined oil which costs more and it price will be brought under control once a refinery is built.
Since 1989 Pakistan owns a namak haraam nation called Afghanistan whose every product goes thru our territory incl. oil. There is central Asia, there is NorthEastern China, there is Iran also which does'nt have the refining capacity as much as the oil. So there is huge potential for this region with regards to Refinery .

It is a mega investment so its going to help the country's economy aoso. Bangladesh should also beg to their daddy India to help them build one. Price of HOBC at 89-90 taka would be reduced.

 

[maverick1977]

Current oil refineries in Pakistan and new ones under construction