Islamabad plans oil reserves, storage push

KARACHI: Pakistan plans to boost domestic storage for crude oil and refined products to increase its energy security, according to a government document that was shared with oil producers and some of the world’s leading trading firms. Despite depending on supplies through the Strait of Hormuz for up to 90 per cent of its oil and liquefied natural gas imports, Pakistan has no strategic petroleum reserves. That has left it exposed to supply shocks provoked by the Iran war even as its lending pr...

By none@none.com (Reuters)