Morgan Hughes, Vitol And Tejara Eye Major Pakistan Investments

ISLAMABAD: Federal Petroleum Minister Ali Pervaiz Malik secured fresh commitments from international energy companies to invest in Pakistan's energy, oil and critical minerals sectors, following a series of separate meetings with foreign investors in the capital.

Malik held individual meetings with representatives of Morgan Hughes Energy, Tejara Capital and Vitol Asia, according to an official statement. Each company confirmed interest in expanding its footprint in Pakistan across upstream oil and gas production, mineral extraction and fuel storage infrastructure.

Pakistan Energy Investment

Morgan Hughes Energy President Gregory Bloom told Malik his company wants to invest in boosting output from Pakistan's existing oil and gas fields rather than pursuing new exploration alone. Bloom's company is already working alongside Tejara Capital on mineral development projects in Balochistan, and both firms indicated they see further room to expand that partnership.

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Tejara Capital CEO Ahmed Waleed also attended the meeting, reinforcing the joint Balochistan minerals initiative the two firms currently operate. Malik assured both executives that the government would extend full support to increase domestic energy production and attract additional foreign capital into the sector.

Malik also had a separate meeting with Kieran Gallagher, CEO of Vitol Asia, and extended congratulations to Vitol for successfully introducing bunkering services at the Gwadar port. It was made clear by the minister that the Ministry of Petroleum and Natural Resources would fully support Vitol’s initiative of turning the high-sulphur fuel oil available into very-low sulphur fuel oil.

The Gallagher meeting also covered opportunities under Pakistan's newly introduced bonded storage policy, which allows international firms to store imported fuel in Pakistan without immediately clearing customs duties until the product is sold domestically or re-exported. Malik said the government is holding parallel discussions with Vitol and other global energy companies on bonded storage projects beyond Gwadar.

The series of meetings signals a broader push by Islamabad to court foreign capital into a sector that has struggled with declining domestic oil and gas output in recent years. Pakistan's proven reserves have shrunk as mature fields age, pushing the country toward heavier reliance on imported crude and LNG. Investment commitments in enhanced recovery from existing fields, if realised, could ease some of that import dependence over the medium term.

However, the second aspect of these visits is linked to the mineral reserves of Balochistan, which Pakistan has highlighted multiple times in the past, citing the copper and other minerals that the international manufacturers require, despite security issues and lack of proper infrastructure hindering the investments before.

It may be noted that no signed agreements were made during Malik’s visit, nor were there any investment amounts disclosed. Whether the stated interest from Morgan Hughes, Tejara Capital and Vitol Asia translates into finalised agreements will depend on further negotiations between the companies and Pakistani authorities in the coming months.