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First-ever consignment of russian oil reaching in pakistan next week: Musadik Malik

First-ever consignment of Russian oil reaching Pakistan next week: Musadik Malik

ISLAMABAD: The first-ever consignment of Russian oil is reaching Pakistan next week.

Minister of State for Petroleum Musadik Malik disclosed this on Wednesday. He said that the oil tanker is carrying 0.1 million tons of cheap oil from Russia.

Minister of State said that the crude oil vessel from Russia is scheduled to arrive in Oman on May 27-28. From there, the oil will be transported to Pakistan through smaller oil tankers.

Musadik Malik said that the Russian oil will help Pakistan government to give more relief by reducing oil prices in the country.

Speaking at a press conference in Islamabad today, Minister of State Malik also highlighted the approval of Pakistan’s new greenfield oil refining policy. He said that the policy has potential to attract investment and foster economic growth.

Furthermore, Malik shared details about the country’s energy security goals, including the LPG Airmix policy. It aims to supply LPG to areas without gas through private sector.

Musadik Malik underscored Pakistan’s annual demand for petrol and diesel, which currently stands at 20 to 21 million tonnes.

He pointed out that the local refineries are meeting 50% of the country’s oil requirements. He also said that the demand of furnace oil is decreasing.

By 2032, Pakistan anticipates an annual consumption of petrol and diesel reaching 33 million tonnes.

Javed Mahmood
Written By

I am an experienced writer, analyst, and author. My exposure in English journalism spans more than 28 years. In the past, I have been working with daily The Muslim (Lahore Bureau), daily Business Recorder (Lahore/Islamabad Bureaus), Daily Times, Islamabad, daily The Nation (Lahore and Karachi). With daily The Nation, I have served as Resident Editor, Karachi. Since 2009, I have been working as a Freelance Writer/Editor for American organizations.

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