Abu Dhabi-based International Petroleum Investment Company’s plan to build a refinery in Pakistan is on track, Pakistan’s minister of investment said on Wednesday. “I just had a meeting with IPIC two days ago and they told me the project is on track,” Waqar Ahmed Khan told reporters at a Press conference.
In January, International Petroleum Investment Company, or IPIC, said it had delayed plans to set up the 250,000 barrel per day refinery in Pakistan. “The only reason why IPIC said the project could be delayed in January was because of international financing decisions they have to make during these hard times,” the Pakistani minister told Reuters after the news briefing. “It has nothing to do with the Pakistan political situation.” – Reuters
