Pakistani PM announces arrival of first batch of oil from Russia

The first batch of Russian oil has arrived in a port city in southern Pakistan, and its unloading will begin on Monday, June 12, Prime Minister Shehbaz Sharif said on Twitter.

“I am pleased to announce that the first discounted Russian crude oil shipment has arrived in Karachi and will be unloaded tomorrow. We are step by step moving towards prosperity, economic growth, energy security and affordability. This is the first ever supply of Russian oil to Pakistan and the beginning of a new relationship between Pakistan and the Russian Federation,” he wrote.

The fact that Russia had agreed with Pakistan on oil supplies became known in January. The Pakistani side then noted that it plans to buy more than 35% of the total volume of oil imports from Russia. In 2021, Pakistan imported 8.8 million tons of oil, which means that we are talking about the supply of more than 3 million tons of Russian raw materials.

In April, Pakistan placed its first discounted oil order from Russia as part of agreements reached in January, Energy Minister Musadiq Masood Malik told Reuters. Then he said that the first tanker should arrive in early May. If everything “goes smoothly”, then the import of raw materials will amount to 100,000 bpd, the minister stressed. Initially, the Pakistani company Refinery Limited (PRL) will process Russian oil, later other refineries will join this process.

According to the Federal Customs Service for 2021, Russia supplied Pakistan with 11,600 tons of oil products per year. Oil supplies in 2020 and 2021 from Russia to Pakistan was not.