Pakistan proposes hosting Gulf crude storage to secure emergency supply rights amid regional tensions and lack of domestic reserves.
Pakistan has invited Persian Gulf oil producers to establish crude reserve buffers at a planned Energy City near one of its ports. The move aims to secure first rights to oil supplies during emergencies, such as war or supply disruptions, according to officials.
The country currently lacks strategic crude reserves, leaving it vulnerable to supply shocks. Recent Middle East crises and negotiations with Iran over cargo routes have highlighted the need for buffer stocks.
Officials said the arrangement would prioritize Pakistan’s access to stored oil in emergencies, potentially stabilizing domestic fuel supplies and reducing market volatility.