India to export fuel to Pakistan
The Indian Oil Corp (IOC) is considering fuel exports to Pakistan after negotiations on trading of petroleum products. New Delhi has agreed to export fuel to Pakistan and provide a new market for the large refineries of Reliance Industries and Essar Oil. The plan is welcomed by Pakistan, which is keen to import refined petroleum products from across the border to save costs.
Through an agreement with India, the energy needs of Pakistan can be met under ideal conditions of cost and resources. Official data reveals that Pakistan has 12 million tonnes of refining capacity which satisfies only half of its annual requirements, while India exports about 25 percent of its 185 million tonnes refining capacity. Pakistan can largely benefit from one of the key refinery players in the international market. The plan has been discussed between the commerce secretaries of India and Pakistan