Kuwait Extends Oil Credit Facility to Pakistan for 2 More Years

Kuwait has extended its deferred oil payment facility to Pakistan for two more years. Under the arrangement, Pakistan State Oil (PSO) imports three oil cargoes per month, totaling 1.8 million tons annually, from Kuwait on 90-day deferred payments. This credit line, now extended, plays a key role in stabilizing Pakistan’s energy imports. The extension was confirmed following a meeting between Federal Minister for Petroleum Ali Pervaiz Malik and Kuwaiti Ambassador Nassar Abdulrahman J Almutairi. The ambassador praised Pakistan’s economic progress and reaffirmed Kuwait’s commitment to expanding bilateral energy and investment cooperation. The minister also welcomed Kuwait Foreign Petroleum Exploration Company’s (Kufpec) interest in offshore exploration blocks.