Petroleum minister seeks to strengthen energy partnerships with Chinese companies

Published September 22, 2024
Federal Minister for Petroleum Dr Musadik Malik met the Governor Mr. Zhao Gang of Shaanxi province in Xian on September 21, 2024 — PID
Federal Minister for Petroleum Dr Musadik Malik met the Governor Mr. Zhao Gang of Shaanxi province in Xian on September 21, 2024 — PID

Minister for Petroleum Dr Musadik Malik on Saturday led a delegation of Pakistani energy companies to the eighth Silk Route Expo in China, aiming to strengthen energy partnerships with Chinese counterparts and foster collaboration in the sector.

According to a statement from the petroleum ministry, Dr Malik laid down Prime Minister Shehbaz Sharif’s vision during the discussion forum, assuring Chinese companies of full support in partnering with Pakistani firms for joint ventures, whether individually or through consortiums.

According to reports, Pakistan’s current domestic oil and gas production stood at 70,998 barrels and 3,131 million standard cubic feet per day (MMSCFD), respectively.

While PM Shehbaz had emphasised exploring new oil and gas reserves as a “top priority”, highlighting that during the next three years, around 240 potential reserve sites would be excavated with an investment of $5bn to explore petroleum and gas.

During the meeting, key areas of partnership including oil and gas exploration, refinery upgrades, coal conversion, and regasification were discussed.

Furthermore, the minister stated that Pakistan had one of the largest coal reserves and the government was committed to creating value from its natural resources “while protecting the environment”.

He also highlighted the country’s focus on producing fertilisers using coal-based energy.

“Moreover, the production of green and blue hydrogen, as well as ammonia, is under consideration. We will become technology partners and joint venture partners,” Dr Musadik Malik remarked.

Chinese companies also engaged in business-to-business meetings with their Pakistani counterparts, exchanging opportunities and plans for collaboration.

During a series of roundtable meetings, the minister met with representatives from leading Chinese companies, such as the Shaanxi Energy Bureau, Yanchang Petroleum Group, Hua Lu Engineering and Technology Group, Shanghai Electric, and Shaanxi Blower Group.

Pakistani companies, including Oil and Gas Development Company (OGDCL), Pakistan Petroleum Limited (PPL), Mari Petroleum Company Limited (MPCL), Fauji Fertilizer Company Limited (FFC), and the Thar Coal Energy Board, showcased investment opportunities at the Expo.

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

More than words
04 Apr, 2025

More than words

WITH Balochistan in tumult, the political class needs to heal the province’s wounds with sagacity and...
Poor publicity
04 Apr, 2025

Poor publicity

FORTUNE does not seem to be favouring the PTI — at least not yet. With the party’s founder confined from public...
Party pooper
04 Apr, 2025

Party pooper

INDIA’s role of a spoilsport is tiresome. From pulling books from shelves, such as Wendy Doniger’s The Hindus: ...
Canal unrest
Updated 03 Apr, 2025

Canal unrest

With rising water scarcity in Indus system, it is crucial to move towards a consensus-driven policymaking process.
Iran-US tension
03 Apr, 2025

Iran-US tension

THE Trump administration’s threats aimed at Iran do not bode well for global peace, and unless Washington changes...
Flights to history
03 Apr, 2025

Flights to history

MOHENJODARO could have been the forgotten gold we desperately need. Instead, this 5,000-year-old well of antiquity ...