Pakistan did not want to pay above the price ceiling for Russian oil
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Pakistan refused to buy one hundred thousand tons of Russian Urals oil at a price exceeding $60 per barrel.
The decision was made after analyzing the results of processing a trial batch of this variety. Pakistan Refinery Limited received only 10% of diesel fuel and the same amount of gasoline. 60% came from fuel oil, which had to be sold abroad at a loss of a quarter of the cost of Brent oil.
The information is published by the local publication The News, whose journalists cite a high official of the Ministry of Energy of Pakistan. The South Asian state wants the Russian Federation to sell it higher quality oil – for example, Siberian Light Oil or Sokol, but at a discount of $35 per barrel.
Let us remind you that the ceiling of sixty US dollars was set by the G7 – an informal international club uniting Great Britain, Germany, Italy, Canada, France, Japan and the USA.
According to the latest data, a barrel of Urals costs $74 – in fact, a quarter above the ceiling. A barrel of benchmark Brent is valued at $93.7.
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