Pakistan’s largest oil company Cnergyico signs pact with US Vitol

Pakistan's largest oil refining company, Cnergyico, has signed an agreement with the US company Vitol, reported the 24NewsHD TV channel on Sunday.
The trade agreement between Pakistan and the US is the beginning of a new era of economic cooperation.
An important trade agreement between Pakistan and the US with the support of SIFC is also a significant development in bilateral relations
According to US President Trump, the US will cooperate in the exploration and development of Pakistan's vast oil reserves.
The agreement will enable Pakistani products to access US markets.
The main objective of the agreement is to promote investment and advance cooperation in areas of mutual interest.
Under this, tariffs on Pakistani exports to US markets will be reduced.
This important development paves the way for economic cooperation in energy, minerals, IT and cryptocurrency.
The daily refinery processing capacity of the Pakistani company is 156,000 barrels.
A plan to upgrade the refinery and install a second offshore terminal in the next five years is also under consideration.

Reporter: Hashar Ahsan