The Minister of Energy discusses strengthening petroleum cooperation with Pakistan
Riyadh – The Saudi capital, Riyadh, hosted a significant strategic meeting between His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy, and His Excellency Ali Pervez Malik, Minister of Petroleum of the Islamic Republic of Pakistan. This meeting aimed to strengthen the deep-rooted bilateral relations between the two brotherly nations and reaffirmed the Kingdom's pivotal role in stabilizing global energy markets and supporting developing economies.
During the expanded meeting, a number of topics of mutual interest were discussed, with the supply and stability of petroleum products topping the agenda, given their crucial importance in meeting the needs of the Pakistani market. The two sides also explored ways to enhance cooperation in renewable energy and energy efficiency, reviewed promising joint investment opportunities, and exchanged technical and legislative expertise in developing projects, policies, and regulations related to the sector.
These talks are particularly important given the historical context of Saudi-Pakistani relations, with Saudi Arabia being Pakistan's primary economic partner and supporter in the energy sector. The Kingdom has consistently stood by Islamabad during times of economic crisis by providing deferred payment facilities for oil imports, which has directly contributed to easing pressure on Pakistan's balance of payments and enhancing the country's energy security.
Regarding future investments, the two sides discussed the potential for expanding the partnership to include energy infrastructure projects, such as refineries and storage facilities. This aligns with the Kingdom's strategic direction to bolster its foreign investments in promising markets. Pakistan views Saudi investments as a cornerstone for revitalizing its economy and developing its struggling energy sector, particularly the proposed refinery project at Gwadar Port, which represents a potential turning point in bilateral cooperation.
In the context of the global shift towards clean energy, the meeting placed significant emphasis on renewable energy. This aligns with Saudi Arabia’s Vision 2030 and the Green Saudi Arabia initiative, as the Kingdom seeks to export its growing expertise in solar and wind energy. This collaboration presents an opportunity for Pakistan to benefit from Saudi Arabia’s experience in reducing its reliance on costly fossil fuels and generating clean and sustainable energy, reflecting both countries’ commitment to contributing to international efforts to combat climate change.
This meeting reaffirms the depth of the strategic partnership between Riyadh and Islamabad, and opens new horizons for broader economic cooperation that goes beyond traditional oil trade to reach sustainable investment and technology partnerships that serve the interests of both peoples and enhance economic stability in the region.
