Chinese firm eyes energy investments

Shandong Xinxu proposes refinery upgrade, offshore exploration, equipment manufacturing

ISLAMABAD:

Federal Minister for Petroleum Ali Pervaiz Malik has met with Hou Jianxin, Chairman of China's Shandong Xinxu Group, to discuss expanding cooperation and investment opportunities in Pakistan's energy sector, according to a statement issued on Thursday.

Jianxin expressed strong interest in investing across Pakistan's energy value chain and proposed a long-term strategic partnership. Jianxin said Shandong Xinxu possesses advanced technologies in upstream oil and gas operations, including field optimisation, drilling services and production enhancement, and is keen to collaborate in increasing hydrocarbon production in Pakistan.

Jianxin also expressed interest in refinery modernisation, particularly the installation of a fluid catalytic cracking (FCC) unit to convert furnace oil into higher-value refined petroleum products. Jianxin further proposed establishing an energy equipment manufacturing facility in Pakistan to cater to domestic requirements and export markets in the Middle East.

Jianxin highlighted the company's expertise in offshore oil exploration and proposed joint collaboration in Pakistan's offshore sector. Jianxin also shared proposals for cooperation in lead mining, establishment of a sulphur processing plant, and development of integrated energy cities along Pakistan's coastline.