Govt Mulls Importing One-Third Of Crude Oil Demand From Russia

[FOOLS_NIGHTMARE]

We aim to establish a similar energy corridor with Central Asia as we do with the Gulf nations’​

State Minister for Petroleum Mussadik Malik has said that the government is planning to buy one-third of Pakistan’s total crude oil demand from Russia.

The government has negotiated a comprehensive energy security deal with Russia, which would cover several areas of the country’s energy supply, the state minister told journalists after attending an event in Karachi.

The minister said, “We aim to establish a similar energy corridor with Central Asia as we do with the Gulf nations.”

He insisted that this would lower energy costs countrywide and aid in the growth of industrial clusters and value-added activities in the agricultural industry.

Malik declined to reveal the business transaction when questioned about the lower price of the imported Russian crude oil, citing contractual responsibilities.

He said that the government wants to import 18–20 percent of all of its crude oil from Russia in the hopes that doing so will significantly reduce the cost of petroleum products for citizens to purchase.

He added that the agreement with Russia was clearly crafted within four to five months and would ease the burden on the general public by lowering domestic oil costs.

Earlier during the occasion, Malik stated that a thorough energy security deal covering many facets of the country’s energy supply will be finished by the end of this year.

He said that it will include information on where LNG and crude oil are obtained, how they are moved around the country, and how customers are provided with them.

He said the deal would encompass energy imports from other countries as well as Russia and the Central Asian States.

The minister said that the government wants to attract fresh investment and integrate it into the global value chain. He said that Pakistan is a trustworthy nation and a gateway to Central Asia. “We want to convey to the world that Pakistan is the best place to realize Central Asia’s untapped oil and gas potential,” he added.

Malik said the government has also completed the national refinery policy, which would result in an investment of $10 billion in the refining industry. The details of the $10 billion investment plan, which will be unveiled very soon by Prime Minister Shehbaz Sharif, cannot now be divulged, he added.

Govt Mulls Importing One-Third Of Crude Oil Demand From Russia

Petroleum Minister Mussadik Malik has said that the government is planning to buy one-third of Pakistan's total crude oil demand from Russia.

www.thefridaytimes.com

 

[El Sidd]

Pakistan must provide a roadmap for fossil free power generation by 2050. The environmental cost cannot be offset by Pakistan's miserable economy.

Countries like Pakistan, Egypt and Turkey must be at the forefront of appreciable climate efforts.

 

[Hexlor]

I thought we couldn't refine Russian oil. What happened? Did Showbaz and Mister 10% snap their fingers and magically made Russian oil useable?

It's a shame these crooks couldn't bless us with their magic in 2022 when IK was securing a wheat and oil deal with Russia. PDM's delay only cost us a loss of a few Billion $, increased inflation, lower exports, industry shut down, and millions of job losses.

 

[Mav3rick]

Pakistan must provide a roadmap for fossil free power generation by 2050. The environmental cost cannot be offset by Pakistan's miserable economy.

Countries like Pakistan, Egypt and Turkey must be at the forefront of appreciable climate efforts.

Where will we get the money from to go fossil-free? Both Solar and Wind (including Hybrid) solutions are very expensive. Hydro works only when flow is favourable and Nuclear is dangerous and expensive initially.

I thought we couldn't refine Russian oil. What happened? Did Showbaz and Mister 10% snap their fingers and magically made Russian oil useable?

It's a shame these crooks couldn't bless us with their magic in 2022 when IK was securing a wheat and oil deal with Russia. PDM's delay only cost us a loss of a few Billion $, increased inflation, lower exports, industry shut down, and millions of job losses.

When people lie for political aims, they do their country a great disservice.

The myth and propaganda that Imran Khan was securing an Oil deal with Russia needs to stop now with sufficient evidence from the horse's mouth that there was no such consideration by Russia. And 1 letter of intention of interest, without a response or follow-up, does not constitute 'securing a deal'! What you should rather say is that the PDM should have picked up where IK left off and then should have followed the matter up even more strongly when India and China secured great deals.

 

[nomi007]

Pakistan must provide a roadmap for fossil free power generation by 2050. The environmental cost cannot be offset by Pakistan's miserable economy.

Countries like Pakistan, Egypt and Turkey must be at the forefront of appreciable climate efforts.

2050 tak we will be like any african country without rule of law. 4th gen of PDM will ruled on us.

 

[Hexlor]

The myth and propaganda that Imran Khan was securing an Oil deal with Russia needs to stop now with sufficient evidence from the horse's mouth that there was no such consideration by Russia. And 1 letter of intention of interest, without a response or follow-up, does not constitute 'securing a deal'! What you should rather say is that the PDM should have picked up where IK left off and then should have followed the matter up even more strongly when India and China secured great deals.

Does it occur to you that the deal was off precisely because PDM took over? Unless you believe multi-billion dollar deals are done in a single day, it's PDM's fault that they couldn't secure the deal after PTI made it clear to Russia that Pakistan is interested in working with them. Also why were PDM aligned media outlets reporting that Pakistan can't use/refine Russian oil? The number of different excuses PDM was using for why this deal isn't going ahead was embarrassing. All while China and India were gobbling up and reselling Russian oil.

In December 2022 Bilawal said that Pakistan isn't "pursuing or receiving discounted Russian oil", yet here we are a year late from when PTI initiated dialogue with Russia and PDM is still mulling whether or not it should mass import from Russia. If you want to defend this utter incompetence and sabotage then go ahead.

This is why you don't overthrow a government mid-term,

 

[El Sidd]

Where will we get the money from to go fossil-free? Both Solar and Wind (including Hybrid) solutions are very expensive. Hydro works only when flow is favourable and Nuclear is dangerous and expensive initially.

Pakistan can offset some of these costs through defining a circular economy. The only cost friendly hybrid solution for Pakistan is nuclear with renewables. The environmental and healthcare expenditure of fossil fuel will break the camels back.

2050 tak we will be like any african country without rule of law. 4th gen of PDM will ruled on us.

These dynasties have more incentives than even government of Pakistan when it comes to investing in the power sector.

 

[SoulSpokesman]

@El Sidd mian,

How are timatar prices now? Your health permits you to have timatar now?

Regards

 

[nahtanbob]

petroleum crude has fallen to $68. It used to be $125 last year.

 

[SQ8]

petroleum crude has fallen to $68. It used to be $125 last year.

Do the people know or can they do jack about it?
That is all I came to say

 

[Edevelop]

I thought we couldn't refine Russian oil. What happened? Did Showbaz and Mister 10% snap their fingers and magically made Russian oil useable?

It's a shame these crooks couldn't bless us with their magic in 2022 when IK was securing a wheat and oil deal with Russia. PDM's delay only cost us a loss of a few Billion $, increased inflation, lower exports, industry shut down, and millions of job losses.

Did you forget the wheat crisis during PTI’s rule? Pakistan is one of the largest producers of wheat but they decided to import. It was a clear case of corruption. If PDM is importing some wheat it’s legitimate because floods in 2022 destroyed 2/3rd of the country’s agriculture.

What was the outcome of IK’s visit to Russia? The war started the day he went there. Had he negotiated for a deal then it would have been expensive

 

[Hexlor]

Did you forget the wheat crisis during PTI’s rule? Pakistan is one of the largest producers of wheat but they decided to import. It was a clear case of corruption.

Please present the evidence you have that Pakistan was importing wheat due to corruption.

I think you might be talking about this:

KARACHI: (PTI) Sindh Assembly Parliamentary Leader Bilal Ghaffar, while expressing concern over the disappearance of Rs8 billion worth of wheat from provincial warehouses, said 1.631 million tonnes had disappeared from under the nose of the food department.

"However, the administration and the Sindh government are unaware of this missing grain," Ghaffar quipped sarcastically. He said that wheat worth Rs800 million was rotting in the warehouses, but the poor were not allowed to get the commodity. "Prior to this scandal, 600,000 sacks of wheat were lost from nine districts of Sindh and influential people had also closed the anti-corruption inquiry." He added that in 2019-20, a scandal of theft of wheat worth Rs8 billion also came to light. "Wheat thefts are being caught in Sindh, but the thieves are not being caught."

PTI lawmaker baffled by ‘missing wheat’ from govt warehouses | The Express Tribune

Ghaffar says staple grain disappeared under Sindh govt's nose

tribune.com.pk

If PDM is importing some wheat it’s legitimate because floods in 2022 destroyed 2/3rd of the country’s agriculture.

But according to PDM, we have had the highest wheat production in 10 years despite the floods.

LAHORE: The wheat production this year topped 27.5 million metric tons, the highest in the last 10 years, despite the challenges posed by heavy rains and floods last year, the Prime Minister’s Office said in a statement on Sunday.

PM hails ‘bumper’ wheat crop | The Express Tribune

Grain production tops 2.75 million tons

tribune.com.pk

Your leaders keep contradicting you. Nothing to be upset about considering the entire concept of PDM is a contradiction.

What was the outcome of IK’s visit to Russia?

We will never know, and you know why that is? It's because PDM decided 50% inflation should be the norm, exports, imports, GDP, FDI, PKR, reserves, all of that must decline for the sake of Pakistan.

 

[Samlee]

Pakistan Should Extend A Pipeline from China's Existing System To Pakistan So Pakistan Can Get Gas From Power of Siberia Pipeline