ISLAMABAD: Pakistan has formally approached Saudi Arabia to secure an alternative oil supply route via the Red Sea port of Yanbu after the closure of the Strait of Hormuz disrupted regional energy transit in the aftermath of the US-Israel strike on Iran.
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The request was made by Federal Minister for Petroleum Ali Pervaiz Malik during a meeting with Saudi Ambassador to Pakistan Nawaf bin Said Al-Malki. According to a statement from the Petroleum Division, the envoy assured Islamabad of Riyadh’s full cooperation.
During the discussion, both sides reviewed bilateral ties and exchanged views on the evolving regional situation. The minister briefed the ambassador on the potential fallout of the Hormuz closure for global energy markets, noting that a significant portion of Pakistan’s oil imports normally passes through the waterway.
Malik emphasized that the government is monitoring developments on a daily basis and taking proactive steps to safeguard the country’s fuel supply. He underscored the importance of support from friendly nations like Saudi Arabia during times of uncertainty.
Saudi authorities have indicated that oil shipments could be facilitated through Yanbu, offering Pakistan an alternative route via the Red Sea. The minister expressed appreciation for the kingdom’s continued assistance, revealing that arrangements had been made for a vessel to sail to Yanbu to load crude oil destined for Pakistan. He also voiced hope that oil supplies routed from Yanbu would be prioritized for Pakistan’s needs.
Ambassador Al-Malki reaffirmed Saudi Arabia’s solidarity, stating that the kingdom is closely tracking developments and stands ready to meet any emergency requirements. He reiterated that Pakistan and Saudi Arabia share longstanding brotherly relations and would continue to support each other, particularly during challenging periods.
Meanwhile, the Pakistani government has decided to pass on the impact of rising global oil prices to consumers under its existing fortnightly pricing mechanism to avoid additional fiscal strain.
Earlier this week, a newly formed 18-member cabinet committee met to assess the implications of the Strait’s closure. Officials reported no immediate crisis, noting that Saudi refined products could be redirected through the Red Sea and that imports from the UAE via Fujairah remain unaffected by the disrupted route.
However, the committee cautioned that a prolonged closure could pose risks to Pakistan’s energy security. Members agreed to closely monitor international market trends, particularly as trading resumes in London, and to reconvene later in the week for further assessment.
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