Due to Pakistan’s inability to refine crude oil of one standard, Russia has offered to supply Pakistan with blended crude oil.
During a virtual meeting between the authorities on Thursday, the Russian side made an offer. The offer represents a portion of the daily supply of 100,000 barrels of crude oil.
Senior officials from the Petroleum Division and representatives from the oil industry made up the Pakistani side, which was chaired by State Minister for Petroleum Dr. Musadik Malik, while senior officials from the Russian energy ministry and pertinent departments made up the Russian side.
According to sources with knowledge of the meeting’s activities, Pakistani officials told their Russian colleagues that their nation required crude oil, petroleum products, gas, and infrastructure investment.
When a delegation from Russia visited Pakistan in the third week of January 2023, the Russian side informed the Pakistani authorities that they were prepared to collaborate with them and would further consider the matter then.
They added that Russia would provide Pakistan with 100,000 barrels of crude oil per day. They were informed by Pakistani authorities, nevertheless, that the nation’s refineries handled light crude oil and used hydro-skimming technology. They continued by saying that light crude oil would be more appealing since it would be easier to refine.
If the Pakistani refineries are unable to process one crude oil, the Russian authorities suggested they can supply them with blended crude oil.
The sources said that more discussion would be held when the Russian authorities would visit Pakistan next month.
At the end of November, a delegation from Pakistan traveled to Russia to have discussions about the delivery of gas and oil at a reduced price.
Malik announced at a press conference following his return from Russia that Russia has consented to provide crude oil. The Russian authorities would visit Pakistan next month to finalize the prices and methods of payment, but they had not yet done so.