KARACHI, Pakistan

Pakistan on Wednesday requested Saudi Arabia to continue its oil supply through an alternate route to maintain Islamabad's fuel supply chain in the aftermath of the closure of the Strait of Hormuz following the US-Israeli offensive on Iran.

Federal Minister for Petroleum Ali Pervaiz Malik requested the provision of oil through the port of Yanbu on the Red Sea during a meeting with Saudi Ambassador to Pakistan Nawaf bin Said Al-Malki, according to a statement from the Petroleum Ministry.

Assuring "full" support in this regard, the ambassador said Riyadh will stand firmly with Pakistan to meet any emergency requirements.

Malik said Pakistan is closely monitoring the evolving situation on a daily basis, as the majority of Pakistan’s energy supplies transit through the Strait of Hormuz.

He said Saudi Arabian sources had assured security of supplies through the port of Yanbu, which could help meet energy requirements.

Amid the escalation, Iran closed the Strait of Hormuz on Feb. 28.

The closure of the Strait, linking the Persian Gulf to the Gulf of Oman and the Arabian Sea, has emerged as the most critical development affecting global energy markets.

As a result, an estimated 20 million barrels per day (bpd) of crude oil and petroleum products have been prevented from reaching international markets, pushing regional exporters to urgently search for alternative export routes.

In a related development, Finance Minister Muhammad Aurangzeb said on Wednesday that there is no fuel shortage in Pakistan, despite the country's emergency-like situation caused by the US-Israel war with Iran.

The minister, however, cautioned about global oil stocks and suggested conserving fuel as a preventive measure.

“We are not going for rationing of fuel, as there is no fuel shortage in the country, but things could become serious if the war drags on,” Aurangzeb said while briefing the Senate Standing Committee on Finance.