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ISLAMABAD, Sep 11 (APP):Federal Minister for Petroleum Ali Pervaiz Malik on Thursday held a meeting with Ahmed Zahid, CEO and Country Chairman of Chevron Pakistan and welcomed the company’s $30 million investment in Pakistan’s oil sector.
According to a news release of the Ministry of Petroleum, the meeting was focused on Chevron’s ongoing operations and future investment plans in Pakistan.
Ahmed Zahid apprised the Minister that Chevron, a leading US-based multinational oil company, has recently invested $30 million to establish a state-of-the-art, fully automated lubricants blending plant in Pakistan.
This strategic investment underscores the company’s long-term commitment to the country.
Highlighting Chevron’s substantial market presence, the CEO stated that the company currently sells approximately 70 million litres of high-quality lubricants per annum in Pakistan, serving a wide range of industrial and automotive customers.
Ali Pervaiz Malik welcomed this significant investment by Chevron. He commended the company’s confidence in the Pakistani economy and its role in enhancing the country’s oil sector with advanced technology and international standards.
“The Government of Pakistan is committed to providing a conducive environment for businesses to thrive,” said the Minister. “We appreciate Chevron’s continued faith in Pakistan and assure you of our full support and facilitation for your operations. Such investments are vital for economic growth, technology transfer, and creating employment opportunities.”
Ahmed Zahid expressed his gratitude for the Minister’s support and reiterated Chevron’s confidence in the business potential of Pakistan. “Chevron is confident about business in Pakistan.” We are encouraged by the government’s support and look forward to further expanding our footprint and contributing to Pakistan’s economic landscape.