Pakistan has placed its first order for discounted Russian crude oil. One cargo is scheduled to arrive at Karachi port in May, according to a new agreement between Islamabad and Moscow.
Minister Musadik Malik told Reuters on Wednesday evening that according to the agreement, Pakistan will only purchase crude oil and not processed fuels, and if the first transaction goes without a hitch, imports might exceed 100,000 barrels per day.
He declared, “Our orders are in; we already placed that.”
In answer to a question about whether the information from the sources was accurate, Malik responded, “Yes, it is true that we will only receive crude oil, not refined oil.”
He stated that Pakistan Refinery Limited (PRL) will refine the Russian crude initially, with the addition of other refineries later following a test run.
The Russian Energy Minister Nikolay Shulginov stated that oil deliveries to Pakistan might start in March following negotiations on the agreement in Islamabad in January.
At the time, Shulginov said that Pakistan would pay for its purchases of crude oil using the currencies of friendly nations.
He had stated, “We have agreed that the payments will be made in the currencies of friendly countries,” during a joint news conference with Pakistan’s Minister of Economic Affairs, Ayaz Sadiq, in January.
Malik has previously stated that Pakistan will begin receiving crude oil from Russia by the end of this month.
Additionally, he promised that Karachi’s household gas users would have a sufficient supply of gas during Sehri and Iftar.
