Key Takeaways
- Federal Minister for Petroleum Ali Pervaiz Malik met with representatives of international energy companies.
- Discussions focused on expanding US investment in Pakistan's energy and critical minerals sectors.
- Morgan Hughes Energy and Tejara Capital are partnering to pursue minerals projects, particularly in Balochistan.
Federal Minister for Petroleum Ali Pervaiz Malik held separate meetings with representatives of leading international energy companies to discuss investment opportunities in Pakistan’s energy and critical minerals sectors. The minister met with Gregory Bloom, President of Morgan Hughes Energy, and Ahmad Waleed, CEO of Tejara Capital, during the first meeting.
Bloom highlighted the potential of Balochistan for critical minerals development, stating that Morgan Hughes Energy and Tejara Capital are partnering to pursue minerals projects while also exploring opportunities in Pakistan’s oil and gas sector. The discussions focused on field optimisation to enhance production from existing assets.
Ali Pervaiz Malik welcomed their interest, reaffirming the government's commitment to increasing indigenous energy production and facilitating responsible international investment through close collaboration with relevant stakeholders. He noted that Morgan Hughes Energy and Tejara Capital are part of a broader effort to attract foreign investment in Pakistan’s energy sector.
In a separate meeting, the minister met with Kieran Gallagher, CEO of Vitol Asia, and his team to discuss ongoing cooperation in Pakistan’s petroleum sector. The meeting reviewed opportunities under Pakistan's newly introduced bonded storage policy, which aims to strengthen energy logistics and expand strategic storage capacity.
Gallagher congratulated Vitol on the successful commencement of bunkering operations at Gwadar and welcomed the company’s proposal to convert High Sulphur Fuel Oil (HSFO) into Very Light Sulphur Fuel Oil (VLSFO). The minister assured full government support for the project, emphasizing the importance of such initiatives in advancing long-term energy security and economic growth.
Both meetings reaffirmed Pakistan's commitment to strengthening global energy partnerships and attracting foreign investment. The discussions highlighted the potential for international companies to play a significant role in developing Pakistan’s energy resources, particularly in Balochistan, where critical minerals are believed to be abundant.
The minister noted that discussions on bonded storage infrastructure are underway with leading global energy companies, including Vitol, as part of the government's efforts to attract greater international investment. This initiative is seen as a key step towards enhancing Pakistan’s energy sector and ensuring sustainable economic growth.
We are excited about the potential in Balochistan for critical minerals development.
Gregory Bloom, President of Morgan Hughes Energy
We congratulate Vitol on their successful operations at Gwadar and look forward to supporting them further.
Ali Pervaiz Malik, Federal Minister for Petroleum
