Oil on deferred payment from Saudi Arabia: New development reported

ISLAMABAD – New developments have been reported regarding the much talkedabout oil for Pakistan on deferred payment from Saudi Arabia.

Pakistan government has revealed that no such formal request has been madeto Saudi Arabia.

Pakistan has not made any formal request to Saudi authorities for grant of200,000 barrel of oil per day on deferred payments, a government officialsaid on Wedneday.

Federal Minister for Petroleum Ghulam Sarwar Khan confirmed that SaudiArabia had agreed to fund an oil refinery project in Gwadar.

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He said that the government had not made any formal request to Saudiauthorities for grant of 200,000 barrel of oil per day on deferredpayments, adding that it was just a thought.

The government wants to discover oil and gas reserves in the country, headded.