Kuwait Petroleum Corporation (KPC) and Pakistan State Oil (PSO) have reaffirmed their commitment to their 50-year energy partnership, agreeing to expand cooperation across the entire energy value chain and explore new opportunities for strategic collaboration. PSO and KPC have agreed to continue arrangements for the supply of gas oil (diesel) and jet fuel from Kuwait to Pakistan, while also agreeing to further improve the terms and conditions in line with prevailing market conditions.

The understanding was reached during a visit to Kuwait by a PSO delegation, which held meetings with KPC officials. PSO Chief Executive Officer (CEO) Jowad Ahmed Cheema led the delegation. The delegation met with KPC’s senior leadership, including its CEO and Deputy Chairman, Sheikh Nawaf Saud Al-Sabah, as well as Sheikh Khaled Ahmed Al-Sabah, Managing Director of International Marketing at Kuwait Petroleum Corporation and CEO of Kuwait Oil Tanker Company (KOTC).

Both organizations will explore cooperation in supply, storage, shipping, refining, lubricants and investment, with the shared objective of promoting energy security and long-term growth. During the discussions, the two sides also explored broader business opportunities in base oil supplies and lubricant marketing.

KPC will utilize Pakistan’s storage and port facilities under the recently revised Customs Bonded Storage Policy introduced by the Government of Pakistan.

These facilities will enable imported petroleum products to be sold in the domestic market and re-exported to regional markets. The remaining formalities and documentation required to implement the initiative are expected to be completed soon in coordination with the relevant Pakistani departments and institutions.

The two organizations will also explore potential KPC investments in Pakistan’s energy sector, including gas, as well as opportunities in refining, storage infrastructure, shipping and logistics.

PSO Chief Executive Officer Jowad Ahmed Cheema said: ” KPC’s interest in Pakistan’s storage and port infrastructure presents significant opportunities to strengthen energy security, promote regional trade and attract investment. PSO is committed to translating these discussions into tangible outcomes over the next 50 years.”