Pakistan Looks to Host Crude Reserve Sites of Gulf Oil Producers

Pakistan is encouraging oil producers from the Persian Gulf to set up crude reserve buffers at a planned Energy City near one of its ports, The Express Tribune reported on Friday. "In case of emergencies like the breakout of war, Pakistan will have the first right to utilise the oil reserves," a Pakistani official told the publication. Pakistan, which doesn't have crude reserves at present to act as a buffer in case of emergencies, has been reeling from the Middle East crisis and negotiating with Iran to secure the passage of cargoes through the…