For the first time, Kuwait offers Pakistan a two-year oil credit facility

LAHORE (RNN TV) — Kuwait has extended its oil credit facility to Pakistan for another two years, aiming to support Pakistan’s energy needs and economic stability.

The decision was announced during a meeting between Pakistan’s Federal Minister for Petroleum, Ali Pervaiz Malik, and the Kuwaiti Ambassador to Pakistan. Minister Malik thanked Kuwait for its continued support, saying that help from Kuwait and other friendly countries has played a key role in helping Pakistan through tough economic times.

The Kuwaiti ambassador noted that Pakistan has made strong economic progress under the leadership of Prime Minister Shehbaz Sharif. He confirmed that the Kuwait Petroleum Corporation has extended its oil credit facility to Pakistan State Oil (PSO) by two years.

This arrangement allows Pakistan to buy oil from Kuwait on deferred payment terms, which helps reduce pressure on the country’s finances. In the past, the facility was extended yearly; this two-year extension marks a major step forward in energy cooperation between the two countries.

Pakistan imports around 2 million tons of oil from Kuwait each year, making Kuwait an important energy partner. The extended facility will give Pakistan more flexibility in managing oil imports and financial planning.

Both sides also agreed to continue working together closely in the energy sector, recognizing its key role in economic growth and regional stability.