Mon, 06 Feb 2023

Pakistan can process Russian crude oil: Demands 30-40% discount

Khalid Umar Malik
02 Dec 2022, 01:44 GMT+10

ISLAMABAD, Pakistan - Russia refused to give Pakistan a 30-40 percent discount on Russian crude oil, claiming that all volumes were already committed, according to the press on Thursday.

During talks in Moscow, the Pakistan delegation, which included State Minister for Petroleum Musadik Malik, a joint secretary, and officials from the Pakistan Embassy in Moscow, requested a discount.

The talks ended without a clear conclusion, but the Russian side promised to consider Pakistan's request and share its opinions later via diplomatic channels.

According to sources, Russia can offer crude at the rates it currently offers to its large client countries, which have reliable and sound economies, at a suitable time. They stated that all volumes are now committed to large buyers.

The Russian side requested that Pakistan first honor its commitment to the Pakistan Stream Gas Pipeline, which will run from Karachi to Lahore, Punjab.

According to sources in the industrial ministry, Russian crude oil can be processed in Pakistani refineries, and one private refinery has previously used Russian crude oil to deliver finished products.

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