Pakistan State Oil (PSO) and Kuwait Petroleum Corporation (KPC) have reaffirmed their 50-year energy partnership. Both companies have agreed to expand cooperation across the energy value chain and explore new investment opportunities in Pakistan.

The agreement followed a meeting between senior officials from both organisations on November 12, 2026.

PSO’s delegation was led by Chief Executive Officer Jawwad Ahmed Cheema. It included Ghulam Murtaza Shaikh, Vice President Consumer Business, and Ashar Ansar, General Manager Supply.

KPC’s senior representatives included CEO and Deputy Chairman Shaikh Nawaf Saud Al-Sabah. Shaikh Khaled Ahmad Al-Sabah, Managing Director International Marketing at KPC and CEO of Kuwait Oil Tanker Company (KOTC), also attended.

The discussions focused on strengthening cooperation amid changing global energy dynamics and Pakistan’s growing energy needs.

Both sides discussed opportunities in fuel supply, storage, shipping, refining, lubricants and investment. They also reaffirmed their commitment to energy security and long-term commercial growth.

PSO and KPC Renew Fuel Supply Partnership

PSO and KPC agreed to continue their longstanding gasoil and jet fuel supply arrangements from Kuwait to Pakistan.

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Both companies will also review and optimise the terms of these arrangements in line with prevailing market conditions.

In addition, they agreed to explore supplies of motor gasoline and petrochemicals from KPC to Pakistan. Discussions also covered base oil supplies and wider cooperation in lubricants marketing.

KPC to Explore Pakistan’s Bonded Storage Facilities

A key outcome involved KPC’s plans to utilise Pakistan’s storage and port facilities under the government’s revised Customs Bonded Storage Policy.

The policy provides a more facilitative framework for international suppliers. KPC’s products could serve domestic customers as well as support re-exports to regional markets.

Relevant Pakistani departments and institutions are expected to complete the remaining procedures and documentation shortly.

The proposed arrangement could strengthen Pakistan’s role in regional energy trade while creating additional opportunities for its storage and port infrastructure.

Both Sides Explore New Energy Investments

KPC also expressed interest in developing further strategic alliances in Pakistan.

Both companies will explore potential KPC investments across the country’s energy sector, including gas. Other areas of interest include refining, storage infrastructure, shipping and logistics.

These discussions aim to broaden the partnership beyond traditional fuel supply arrangements and create opportunities for long-term investment.

PSO and KPC Mark Five Decades of Cooperation

PSO invited KPC’s senior management to visit Pakistan early next year to celebrate the partnership’s 50th anniversary.

“Fifty years in, this partnership is not slowing down. It is gathering pace,” said PSO CEO Jawwad Ahmed Cheema.

He said the partnership had a strong foundation built on decades of trust. He added that both companies aimed to expand cooperation across fuels, lubricants, storage, logistics and investment.

Cheema also highlighted KPC’s interest in Pakistan’s storage and port infrastructure. He said these opportunities could strengthen energy security, support regional trade and attract investment.

KPC Managing Director International Marketing Shaikh Khaled Ahmad Al-Sabah also welcomed the continued cooperation.

“Our partnership with PSO is among the most valued in KPC’s international portfolio and reflects the enduring brotherhood between Kuwait and Pakistan,” he said.

He added that KPC was proud to have supported Pakistan’s energy requirements for five decades. The company looks forward to expanding commercial and strategic cooperation with PSO.

PSO also acknowledged the support of KPC’s senior leadership. The company expressed appreciation to the Government of Pakistan and the Petroleum Division for policy reforms, particularly the revised bonded storage framework.

According to PSO, these measures are helping facilitate international investment in Pakistan’s energy sector.