First Cross-Border Oil Project launched in Pak, China collaboration

BEIJING,  (Rahat): The first international bulk oil trade project, a collaboration between the Pakistan-China Center, Pakistan, and East Sea Group, China, was launched in the China-SCO Local Economic and Trade Cooperation Demonstration Area (SCODA), Qingdao, Shangdong, China.

Under the project, the initial batch of MALAYSIA BLEND crude oil, totaling 300,000 tons, underscores a deepening of investment cooperation between SCODA and Shanghai Cooperation Organization (SCO) member countries, China Economic Net (CEN) reported.

Fang Yulong, CEO of East Sea Group, expressed confidence in expanding into SCO member countries’ markets, attributing it to the support and assistance received from SCODA.

Leveraging its geographical advantages and openness, SCODA has actively promoted energy cooperation with SCO member countries and BRI countries.

SCODA has now emerged as a vital hub for trade and business among member countries of SCO.