Tag: Parco

UAE to invest $5 billion in oil refinery project in Hub

The United Arab Emirates (UAE) will invest $5 billion in an oil refinery project in Hub, Pakistan by the end of the year, local news channel reported. The investment will be between Mubadala Petroleum Company of Abu Dhabi, Pak Arab Refinery Limited (Parco) and OMV [OMV Pakistan Exploration Gesellschaft], revealed UAE Ambassador to Pakistan Hamad Obaid Ibrahim Salem Al-Zaabi.