Request for preferential energy cargoes will be ‘considered favourably’, Oman envoy assures petroleum minister

Oman’s envoy to Pakistan, Fahad Bin Sulaiman Bin Khalaf Alkharusi, assured Petroleum Minister Ali Pervaiz Malik on Thursday that Islamabad’s request for preferential energy cargoes would be “considered favourably”, a statement issued by the Petroleum Division said.

The statement detailed the meeting between the two dignitaries in Islamabad, stating that Ambassador Alkharusi “welcomed Pakistan’s push towards diversification and conveyed that Oman stands ready to support Pakistan in enhancing its energy security”.

“In this regard, the federal minister expressed optimism that Oman would consider Pakistan’s request for preferential energy cargoes to meet its growing requirements. The ambassador responded positively and assured that the request would be considered favourably,” it added.

The statement said that the two discussed the evolving energy situation in the region and avenues for strengthening bilateral cooperation in the energy sector.

“The federal minister highlighted that Pakistan and Oman enjoy long-standing, cordial and brotherly relations, rooted in shared history, mutual respect and strong people-to-people ties. He reaffirmed Pakistan’s commitment to further expand the bilateral energy partnership and explore new areas of collaboration,” it said.

Moreover, the minister apprised the ambassador of Pakistan’s ongoing efforts to diversify its energy imports and ensure supply resilience, particularly by exploring alternative routes and sources outside the Strait of Hormuz in light of the changing regional dynamics, the statement said.

According to the statement, three cargoes of petrol and one cargo of diesel were imported from the ports of Oman during March, and two more cargoes of petrol will be imported from Oman ports in the same month.

The world has been facing a global fuel crunch in the aftermath of a US-Israeli war on Iran, which has been going on for nearly a month. The fuel crisis has resulted from the disruption of traffic in the Strait of Hormuz — a corridor that carries 20 per cent of global liquified natural gas and a quarter of seaborne oil.

But last week, Malik said that despite the closure of the Strait, Saudi Arabia was “providing an uninterrupted supply of crude oil to Pakistan through the Red Sea, while the United Arab Emirates is also providing oil to us through Fujairah out of the Strait waterways”.

Earlier this week, members of the committee formed to monitor petrol prices were told that cargo inflows were continuing as scheduled and petrol cargoes for the current month and for April had “largely been secured”, with additional shipments planned to further strengthen supply buffers.

However, the government has warned that the situation could worsen if the conflict continues and has taken multiple steps in light of the situation, including a Rs55 per litre hike in the prices of petrol and high-speed diesel in early March and the adoption of austerity and fuel-conservation measures.

During the meeting between Malik and Alkharusi, “it was noted that Pakistan State Oil and Oman Trading International are also engaged in constructive discussions to explore the possibility of additional oil cargoes to help meet Pakistan’s energy demand,” the Petroleum Division statement said.

It added that opportunities for enhanced cooperation in the upstream sector, including exploration and production, were also discussed during the meeting while the importance of expanding collaboration in oil and gas development projects was also emphasised.

“Both sides reaffirmed their shared commitment to further deepen Pakistan-Oman cooperation in the energy sector and strengthen strategic ties for mutual benefit,” the statement said.

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