Tue. Jun 6th, 2023

Russia’s refusal to give 30 to 40 percent discount on crude oil to Pakistan

Islamabad (Daily Pakistan Online) Russia has refused to give 30 to 40 percent discount on Russian crude oil to Pakistan, saying that it cannot give anything at present.

According to English newspaper The News, the Pakistani delegation, which included Minister of State for Petroleum Mossadegh Malik, the Joint Secretary and officials from the Pakistani Embassy in Moscow, requested the concession during the talks in Moscow. The talks ended inconclusively but the Russian side promised to consider Pakistan’s demand and express its views later through diplomatic channels.

Sources say that at the right time, Russia can offer crude oil to Pakistan at the same price it is providing to its major client countries, which are reliable and strong economies, but currently all supplies are to major countries. Is.

The Russian side asked Pakistan to first honor its commitment to the flagship project of the Pakistan Stream gas pipeline from Karachi to Lahore. Pakistan’s desire to change the PSGP project model was expressed during the talks. The Russian side said that the project model under the GTG arrangement has already been finalized and only some clauses of the shareholding agreement remain to be finalised.

Pakistan’s official delegation left for Moscow on November 29 on a three-day visit to discuss with Russian officials the possibility of subsidized crude oil import, payment methods and shipment cost. According to sources in the Ministry of Industries, Russian crude oil can be processed in Pakistan’s refineries and in the past a private refinery used Russian crude oil to supply finished products.

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