Arab Today, arab today iran pakistan plan to build oil pipeline
Last Updated : GMT 15:33:42
Arab Today, arab today
Arab Today, arab today

Iran, Pakistan plan to build oil pipeline

Arab Today, arab today

Arab Today, arab today Iran, Pakistan plan to build oil pipeline

Tehran - Fna

Iran and Pakistan have drawn up plans for an oil pipeline despite the United States\' opposition and growing pressures on Islamabad. The move will not be welcomed by the US, given that it recently expressed strong opposition to a gas pipeline project between Iran and Pakistan, going so far as to threaten Islamabad with sanctions. The oil pipeline plan emerged after Iran offered Pakistan oil supplies on a long-term deferred payment scheme. The pipeline would be laid from Iran to Gwadar port, where Iran will also set up a refinery to process crude oil. Petroleum Minister Dr Asim Hussain said that the two sides had been discussing the proposal of an oil pipeline in different meetings. \"But I am not aware about finalization of the proposal,\" Hussain said. \"I am also not aware of any discussion taken place about the oil pipeline in a recent meeting of Pak-Iran JEC meeting,\" he added. However, documents seen by The Express Tribune suggest otherwise. Officials said that the two countries have signed a memorandum of understanding, adding that ratification of the memorandum will be sought from the federal cabinet. Joint working groups have been formed to take the proposal from plan to reality. The oil pipeline was first touted when President Asif Ali Zardari visited Tehran on July 15, accompanied by Interior Minister Rehman Malik and Petroleum Minister Dr Asim Hussain. During the trip Iranian authorities reportedly extended support to Pakistan\'s energy sector. Sources revealed that Iran also offered to provide oil on six-month deferred payments to meet Pakistan\'s domestic needs. Proposals for the pipeline and the oil refinery were also discussed during the recent 18th session of the Iran-Pakistan Joint Economic Commission meeting held in Islamabad. Deputy Managing Director Aftab Ahmad told The Express Tribune that Pakistan Refinery Limited was designed in 1962 to process Iranian oil, though consumption of Iranian oil in Pakistan is very low. \"No refinery in Pakistan can process 100% Iranian crude oil,\" he said. Therefore the pipeline between Iran and Pakistan would only be feasible if Iran also sets up a refinery. Another industry source said that Iranian oil had more components of furnace oil. Pakistan\'s furnace oil requirements have increased from three to four million tons in 2004-2005 to nine million tons in the current financial year. Refineries in Pakistan currently have a furnace oil production capacity of just three to 3.5 million tons per year. At present, Pakistan State Oil imports furnace oil to meet the power sector\'s requirements. \"If India is importing Iranian oil, why should Pakistan not import it to meet furnace oil and other petroleum product requirements of the country?\" asked the industry source rhetorically, adding that Pakistan will save 20 cents per barrel as it will no longer have to bear the costs of transporting Iranian oil.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today iran pakistan plan to build oil pipeline Arab Today, arab today iran pakistan plan to build oil pipeline

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today iran pakistan plan to build oil pipeline Arab Today, arab today iran pakistan plan to build oil pipeline

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Girl barred from Malaysia chess competition

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday