PSO signs petroleum supply agreement with Oman's OQ Trading

Pakistan State Oil has signed a sale and purchase agreement with Oman's OQ Trading Limited for petroleum product supplies, the listed state-owned oil marketing company disclosed in a notice to the Pakistan Stock Exchange on Friday. The company said the agreement sits under an inter-governmental agreement between Pakistan and Oman and is aimed at supporting the country's energy security and petroleum supply chain.

According to the notice, an IGA between the Islamic Republic of Pakistan and the Sultanate of Oman was signed on 14 May 2018, under which OQ Trading Limited, formerly Oman Trading International Limited, was nominated on behalf of Oman and Pakistan State Oil was nominated on behalf of the Government of Pakistan. PSO said that under the IGA it engaged with OQ Trading to finalise a draft sale and purchase agreement for supplies of petroleum products.

The notice stated that the SPA was signed between PSO and OQ Trading on 8 October 2026, after formal approval by PSO's Board of Management and the federal cabinet. In August, the Economic Coordination Committee of the Cabinet approved an SPA between the two companies, a decision the committee framed as strengthening the country's energy security and petroleum supply chain and as promoting cooperation between OQ Trading and PSO in the energy sector.

PSO and OQ Trading have also been in discussions about the provision of additional oil cargoes to Pakistan. In March, three cargoes of petrol and one of diesel were imported from Oman, according to the notice's account of the supply relationship. The Federal Minister for Petroleum has separately discussed with the Omani Ambassador the possibility of Oman providing preferential energy cargoes to Pakistan, a request the source material says received a positive response.