Pakistan plans Hub oil storage and refining complex

Pakistan plans Hub oil storage and refining complex

Petroleum Minister Ali Pervaiz Malik told the new Saudi envoy in Islamabad that a tax-neutral bonded policy is ready, while Riyadh’s embassy began same-day visa processing for Pakistanis.

Pakistan has approved a tax-neutral bonded policy so Saudi firms can hold commercial oil stocks without local tax liabilities.

Federal Petroleum Minister Ali Pervaiz Malik briefed new Saudi Ambassador Dr Rajeh bin Tami Al-Baqami in Islamabad on October 30, 2026.

Islamabad plans a major petroleum storage and refining complex at Hub, Balochistan, able to handle Very Large Crude Carriers, with Technip Energies UK guidance.

The Saudi Embassy in Islamabad has introduced same-day visa processing for Pakistani citizens.

Talks also covered mining, energy, refinery upgradation and LPG supplies.