Refinery project faces uncertainty amid tepid Aramco response

ISLAMABAD: The setting up of a $10 billion state-of-the-art and deep conversion refinery with capacity to refine crude oil of 300,000 barrels per day (BPD) is in the doldrums as the vibes coming from Saudi Aramco are not up to the mark. They are all the more confusing as Pakistan authorities have notified the new green refinery policy loaded with huge incentives of 7.5 percent deemed duty for 25 years and a tax holiday of 20 years as per the wishes of the KSA (Kingdom of Saudi Arabia), senior officials privy to the development told The News. “Now, top functionaries of Saudi Aramco, in recent interactions with Pakistan authorities, have indicated that Aramco has detached itself from the Saudi government…