Pakistan makes the first purchase of Russian crude at a discount

According to a new agreement between Islamabad and Moscow, Pakistan has made its first order for discounted Russian crude oil. One shipment is scheduled to arrive at Karachi port in May.

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, Minister Musadik Malik told Reuters on Wednesday evening.

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.

According to him, Pakistan’s Refinery Limited (PRL) would process the Russian crude initially, with the addition of additional refineries subsequently following a trial run.

Following negotiations on the agreement in Islamabad in January, the Russian Energy Minister Nikolay Shulginov stated that oil deliveries to Pakistan might start in March.

(Reuters)