Pakistani delegation will visit Russia to negotiate oil imports – Kommersant
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A delegation from Pakistan led by the head of the Ministry of Energy, Muhammad Ali, will visit Russia from October 10 to 12 to participate in a conference on energy cooperation between the two countries. The Pakistani side plans to negotiate with the Russian Federation on a long-term contract for the import of Russian oil, a local newspaper reports. The News with reference to sources.
The publication’s interlocutors clarify that with the help of Russian supplies, Pakistan plans to diversify energy sources and cope with high prices for petroleum products. According to sources, the Pakistani delegation plans to discuss long-term supplies of Russian oil, LNG, as well as the North-South gas pipeline project (Pakistan Stream).
The News notes that representatives of Pakistan and the Russian Federation will discuss energy issues for the first time since the first shipment of Russian oil arrived in Pakistan in June of this year. After this, deliveries stopped, the newspaper reports.
“Over the past two and a half months, not a single new order has been placed for the import of Russian oil, since local oil refineries have not shown interest in importing Urals oil,” the publication’s interlocutor said.
A batch of Russian oil for Pakistan was purchased by Pakistan Refinery Limited (PRL) in June. During the refining process, PRL was able to obtain 60% of heating oil, 10% of gasoline and about 10-15% of diesel fuel from Russian oil. According to sources, oil imports from the Russian Federation did not lead to lower prices for end consumers in Pakistan, but they were commercially beneficial for PRL. According to the publication’s interlocutors, Russian oil can affect prices on the domestic market only if all Pakistani refineries begin to regularly import it.
12 June Pakistan Oil Minister Musadiq Malik reported, that in Karachi, Pakistan, they began to unload the first shipment of Russian crude oil that arrived at a discount under a new agreement concluded between Moscow and Islamabad. Pakistan paid for this cargo in Chinese yuan. Mr. Malik did not disclose the details of the transaction.
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