Pakistan now enjoys a two-year extension on Kuwait’s deferred oil payment arrangement.
The agreement allows Pakistan State Oil (PSO) to import three oil cargoes each month from Kuwait on a 90-day deferred payment basis, for a total of 1.8 million tons yearly. The extension of this credit line is crucial to keeping Pakistan’s energy imports stable.
After meeting with Kuwaiti Ambassador Nassar Abdulrahman J. Almutairi, Federal Minister for Petroleum Ali Pervaiz Malik confirmed the prolongation.
The envoy reiterated Kuwait’s commitment to growing bilateral energy and investment cooperation while applauding Pakistan’s economic advancements. The minister also praised the interest in offshore exploration blocks shown by Kuwait Foreign Petroleum Exploration Company (Kufpec).
