KARACHI: Pakistan has suspended the import of crude oil from Russia after the refining process yielded more furnace oil than petrol, JEE News reported on Sunday, citing sources in the energy sector.
Additionally, sources claimed that the Pakistan refinery refused to process more Russian oil, as it received less gasoline with 20 percent more furnace oil than Arabian crude.
He added that the benefits of Russian crude oil imports are limited, with a large volume of low-cost furnace oil exports.
Some sources also claimed that Russian oil has reduced the production of kerosene and jet fuel for ships, which is not beneficial for the country.
Besides, according to industry sources, despite the insistence of former Minister of State for Petroleum Mossadegh Malik, Pakistan Refinery has given up refining Russian oil for now.
Two crude oil ships from Russia arrived at Karachi port on June 11 and 26, after which no Russian oil ship came to Pakistan.
The issue of oil imports from Russia has gained great political and diplomatic importance over the past year.
Pakistan kept the exact price of Russian oil and its arrival a secret. The first shipment arrived at Karachi Port on the evening of June 11, containing about 45,000 tons of cargo. The second vessel, carrying about 56,000 tonnes of crude oil, anchored at Karachi port on June 26.
According to experts, if the prices of Brent crude oil and Arab Light Sea crude oil increase further and the price of Russian oil does not increase, then only in that case the purchase of Russian oil can be beneficial for Pakistan.
But experts believe that the chances of such a situation are limited. He said that another possibility to resume the purchase of crude oil from Russia is that it [Russia] should create a special price concession for Pakistan.
