Pakistan: oil refinery deal

The UAE is to play a key role in building a USD 5 billion oil refinery on the Pakistani coast. The refinery will be built in the province of Baluchistan, in south western Pakistan. The refinery, known as the Khalifa Coastal Refinery project, is a JV between the Abu Dhabi state owned International Petroleum Investment Co. and the Pak-Arab Refinery Ltd, which is jointly owned by Pakistan and Abu Dhabi. The refinery will have a daily production capacity of 250,000 barrels. With the completion of the refinery, Pakistan’s capacity would be doubled from the current 248,506bpd.
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