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Pakistan shares oil import agreement with UAE authorities

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ISLAMABAD: Pakistan has sent a draft of an inter-governmental agreement (IGA) to UAE for the import of mogas under a government-to-government mode between Pakistan State Oil (PSO) and Abu Dhabi National Oil Company (ADNOC), reported The Republicpolicy on Thursday.

“We have sent the IGA draft to the UAE for approval. Once it is signed, commercial talks would begin between the state entities of both the countries,” a senior official of the Energy Ministry confirmed to the publication.

As per the agreement Pakistan is seeking to import 1.5 million tonnes of motor spirit per annum, which is equivalent to 30 cargoes in a year, in the deal which is expected to last for 5-8 years.

A monthly breakdown would mean that Pakistan would import two and a half to three cargoes a month from the Gulf state.

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