After Iran Allows 20 Pakistani Ships To Pass Through The Strait Of Hormuz, Kuwait Has Promised Complete Facilitation Of Diesel And Jet Fuel To Pakistan
According to Dawn News, Kuwait has promised complete facilitation regarding exporting its diesel and jet fuel to Pakistan. This marks the reestablishment of trade between Pakistan and Kuwait since the closure of the Strait of Hormuz as Pakistan imports 60% of its diesel from Kuwait due to long standing contracts between state-run oil giants, Kuwait Petroleum Corporation (KPC) and Pakistan State Oil.
On Monday, Minister for Petroleum Ali Pervaiz Malik held a meeting with Kuwait’s Ambassador to Pakistan Nassar Abdulrahman Jasser Almutairi to discuss bilateral relations, energy cooperation, and regional developments, from which it was concluded that Kuwait promised the reestablishment of trade for diesel and jet fuel.
The reestablishment of trade will help Pakistan in keeping stocks available for demand instead of facing a shortage which can artificially increase the price of diesel. Therefore, diesel is predicted to continue to remain stable for the time being.
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