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Deal will see Pakistan buy crude oil only, not refined fuels
Pakistan has placed its first order for discounted Russian crude oil under a new deal struck between Islamabad and Moscow, the country's petroleum minister said, with one cargo to dock at Karachi port in May.
The deal will see Pakistan buy crude oil only, not refined fuels, and imports are expected to reach 100,000 barrels per day if the first transaction goes through smoothly, Minister Musadik Malik told Reuters on Wednesday night.
"Our orders are in, we have placed that already," he said.
"Yes it is true that we will be getting only crude, not refined oil," Malik said.
He said Pakistan Refinery Limited (PRL) will initially refine the Russian crude, with other refineries to be included later after a trial run.
Russian Energy Minister Nikolay Shulginov led a delegation to Islamabad in January to hold talks on the deal, after which he said oil exports to Pakistan could begin after March.
Earlier this month, Malik had said that talks between Islamabad and Moscow are underway for the import of oil, adding that Pakistan will begin importing Russian crude oil at discounted rate from this month.
He said this while addressing petroleum dealers and businessmen and industrialists in Karachi at the PSO House. The minister’s statement came days after he claimed that Pakistan would place its first order for Russian crude oil next month, adding that the two countries have agreed on a lot of matters.
Pakistan has placed its first order for discounted Russian crude oil under a new deal struck between Islamabad and Moscow, the country's petroleum minister said, with one cargo to dock at Karachi port in May.
The deal will see Pakistan buy crude oil only, not refined fuels, and imports are expected to reach 100,000 barrels per day if the first transaction goes through smoothly, Minister Musadik Malik told Reuters on Wednesday night.
"Our orders are in, we have placed that already," he said.
"Yes it is true that we will be getting only crude, not refined oil," Malik said.
He said Pakistan Refinery Limited (PRL) will initially refine the Russian crude, with other refineries to be included later after a trial run.
Russian Energy Minister Nikolay Shulginov led a delegation to Islamabad in January to hold talks on the deal, after which he said oil exports to Pakistan could begin after March.
Earlier this month, Malik had said that talks between Islamabad and Moscow are underway for the import of oil, adding that Pakistan will begin importing Russian crude oil at discounted rate from this month.
He said this while addressing petroleum dealers and businessmen and industrialists in Karachi at the PSO House. The minister’s statement came days after he claimed that Pakistan would place its first order for Russian crude oil next month, adding that the two countries have agreed on a lot of matters.
Pakistan buys its first cargo of Russian oil | The Express Tribune
Islamabad wants purchases to reach 100,000 bpd
tribune.com.pk