Pakistan State Oil (PSO) has signed multiple infrastructural memorandums of understanding (MoUs) of strategic importance with Pak Arab Refinery Limited (PARCO) and Pak Arab Pipeline Company (PAPCO).
These MoUs are intended to safeguard Pakistan’s petroleum product supply chain and enable the economical and environment-friendly transportation of fuels.
The entities will jointly develop a strategic 20 km long pipeline link called the ‘Keamari Korangi Link Pipeline 2 (KKLP-II)’ between the port at Keamari and Port Qasim for the transportation of motor gasoline and high-speed diesel.
This is a major milestone on the road to sustainability and environment-friendly initiatives as it will significantly reduce harmful tailpipe emissions, ensure the safe transportation of highly volatile petroleum products, and will ease traffic congestion in Karachi and other cities.
PSO and PARCO also agreed to explore the option of developing a terminal with a single point mooring (SPM) system at Hub that will allow imports through VLCCs.
The MoUs were signed by the Managing Director and CEO PSO — Syed Taha, the Managing Director PARCO – Shahid Mehmood Khan, and the Chief Executive PAPCO – Amr Ahmed.
Senior PSO officials including the Chief Commercial Officer — Shehryar Omar, the General Manager Infrastructure Projects and Maintenance – Hammad Zafar, and the General Manager Supply – Asad R. Faiz also attended the ceremony.
This partnership will bring synergy into the shared national agenda and will accelerate the economic progress of Pakistan while cementing business ties between the national entities.