11:38 - 2.06.2026

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June 2, Fineko/abc.az. Pakistan is negotiating with Saudi Arabia, Kuwait, Qatar, the United Arab Emirates and China on the construction of customs terminals for oil storage, ABC.AZ reports, referring to Nikkei Asia.

For the first time, the country is forming the concept of strategic oil reserves due to supply disruptions and high dependence on imports, a significant part of which passes through the Strait of Hormuz.

The project includes the creation of state and commercial storage facilities, the development of refining and geological exploration. Pakistan plans to create a reserve for 45 days, followed by an increase to 90 days. Financing will be provided by a special fund from the tax on petroleum products.