Oil and Gas Exploration: Federal Cabinet Approved the Sales of 15% Stake in Reko Diq for US$540mn – By Topline Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">As per a news report, Federal Cabinet has approved the sale of a 15% stake in the Reko Diq project at a value of US$540mn to the Kingdom of Saudi Arabia (KSA) under the Inter-Governmental Commercial Transactions Act.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">The KSA will make the payment in two installments, as reported. In the first phase, it will acquire a 10% stake in the project for US$330mn, while the remaining 5% stake will be purchased in the second phase for US$210mn.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">To recall, State-Owned Enterprises (SOEs), including Pakistan Petroleum (PPL), Oil and Gas Development Company (OGDC), and ...