{"id":89700,"date":"2022-10-31T10:00:00","date_gmt":"2022-10-31T05:00:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=89700"},"modified":"2022-10-28T17:13:33","modified_gmt":"2022-10-28T12:13:33","slug":"chinese-firm-setting-up-oil-refinery-gwadar","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/chinese-firm-setting-up-oil-refinery-gwadar.html","title":{"rendered":"Chinese firm mulls setting up oil refinery in Gwadar"},"content":{"rendered":"\n<p>Islamabad: Chinese firm \u2014 East Sea Group Limited \u2014 has planned to invest USD 4.5 billion for the construction of a refinery in Gwadar with a yearly oil processing capacity of 8 million tonnes, according to news published on October 28.\u00a0<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/pakistan-tajikistan-gwadar-shehbaz.html\" target=\"_blank\" rel=\"noreferrer noopener\">Pakistan ready to give Tajikistan access to Gwadar: PM Shehbaz<\/a><\/p>\n\n\n\n<p>East Sea Group Limited Chief Executive Officer (CEO) and Senior Vice President of Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) Fang Yulong announced the plan to set up an oil refinery in Gwadar during the briefing at the PCJCCI Secretariat. The CEO revealed that they will establish Gwadar Petroleum Storage and Transportation Trading Centre. He went on to say that the project will attract the world\u2019s major oil trading companies to <a href=\"https:\/\/www.zameen.com\/news\/chinese-usd-15-billion-refinery-pakistan.html\" target=\"_blank\" rel=\"noreferrer noopener\">Gwadar Port<\/a>.\u00a0<\/p>\n\n\n\n<p>Sharing more details, Mr Fang stated that the set-up will comprise six crude oil ships from blending and trans-shipment at the port, with a total capacity of 2 million tonnes per month. The news source mentioned that it will supply oil to major Middle Eastern oil-producing countries for blending services and sales.\u00a0<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/barrick-gold-invest-gwadar-mineral.html\" target=\"_blank\" rel=\"noreferrer noopener\">Barrick Gold to invest in Gwadar mineral exports<\/a><\/p>\n\n\n\n<p>Moreover, the CEO opined that the growth of the energy sector was critical for the progression of South Asia\u2019s economic structure. He went on to say that it will only guarantee the development of different downstream industries, but will diminish trade deficit and increase foreign exchange reserves. Highlighting the strategic location of Gwadar Port, he stated that its location near major oil-producing markets, trade routes, and good political relations with oil-producing states makes it a potential petrochemical and energy hub<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Chinese firm \u2014 East Sea Group Limited \u2014 has planned to invest USD 4.5 billion for the construction of a refinery in Gwadar with a yearly oil processing capacity of 8 million tonnes, according to news published on October 28.\u00a0 Read: Pakistan ready to give Tajikistan access to Gwadar: PM Shehbaz East Sea Group Limited Chief Executive Officer (CEO) and Senior Vice President of Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) Fang Yulong announced the plan to set up an oil refinery in Gwadar during the briefing at the PCJCCI Secretariat. The CEO revealed that they will establish Gwadar Petroleum Storage and Transportation Trading Centre. He went on to say that the project will attract the world\u2019s major oil trading companies to Gwadar Port.\u00a0 Sharing more details, Mr Fang stated that the set-up will comprise six crude oil ships from blending and trans-shipment at the port, with a total capacity of 2 million tonnes per month. The news source mentioned that it will supply oil to major Middle Eastern oil-producing countries for blending services and sales.\u00a0 Read: Barrick Gold to invest in Gwadar mineral exports Moreover, the CEO opined that the growth of the energy sector was critical&hellip;<\/p>\n","protected":false},"author":83,"featured_media":64402,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15020],"tags":[54715,54716],"persona":[],"class_list":{"0":"post-89700","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-social-developments","8":"tag-chinese-firm-mulls-setting-up-oil-refinery-in-gwadar","9":"tag-oil-refinery-in-gwadar","10":"cat-15020-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Chinese firm mulls setting up oil refinery in Gwadar - Zameen News<\/title>\n<meta name=\"description\" content=\"Chinese firm \u2014 East Sea Group Limited \u2014 has planned to invest USD 4.5 billion for the construction of a refinery in Gwadar with a yearly...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/chinese-firm-setting-up-oil-refinery-gwadar.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chinese firm mulls setting up oil refinery in Gwadar - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Chinese firm \u2014 East Sea Group Limited \u2014 has planned to invest USD 4.5 billion for the construction of a refinery in Gwadar with a yearly...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/chinese-firm-setting-up-oil-refinery-gwadar.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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