Russia ready to trade blended crude to Pakistan:
Russia ready to trade blended crude to Pakistan
KARACHI: Russia is set to provide blended crude oil to Pakistan as the country’s refining sector is not able to process crude oil of one specification. The offer is a part of the 100,000 barrels per day crude oil supply. Pakistan told that the country needed crude oil, petroleum products, gas and investment in infrastructure.
The Russian side made an offer during a virtual meeting held between the authorities on Thursday. The Minister of State for Petroleum Dr Musadik Malik led the Pakistani side. The senior officials of the Petroleum Division and representatives from Pakistan’s oil sector were art of the meeting group. The Russian side consisted of senior officials of the energy ministry and relevant departments.
The Russian authorities said that they were ready to work Pakistan and deliberate further upon the proposal when a delegation from Russia would visit Pakistan in the third week of January 2023.The Russian side also added that it would supply 100,000 barrels of crude oil to Pakistan daily.
While Pakistani authorities shared that country’s refineries were hydro-skimming refineries and capable of processed light crude oil. They said if the Pakistani refineries are not capable of processing one type of crude they can provide blended crude. They also added that they would be more interested in light crude oil to process it efficiently.
The fuel negotiations were happening between the two sides since last month.