KARACHI: Russia has offered to supply blended crude oil to Pakistan as the country’s refining sector is unable to process crude oil of one specification.
The Russian side made an offer during a virtual meeting between officials on Thursday. The offer is part of a supply of 100,000 barrels per day of crude oil.
On behalf of Pakistan, under the leadership of Minister of State for Petroleum, Dr. Mossadegh Malik, senior officials of the Petroleum Division and representatives of the oil sector were included, while on the Russian side, senior officials of the Ministry of Energy and related departments were included.
Sources familiar with the proceedings of the meeting told JEE News that Pakistani officials told their Russian counterparts that the country needed investment in crude oil, petroleum products, gas and infrastructure.
The Russian side told Pakistani officials that they are ready to work with them and will consider it further when the Russian delegation visits Pakistan in the third week of January 2023.
He further said that Russia will supply one lakh barrels of crude oil per day to Pakistan. However, Pakistani officials told them that the country’s refineries are hydro-skimming refineries and process light crude oil. He added that they would be more interested in light crude oil so that it can be processed efficiently.
Russian officials said that if Pakistani refineries were not capable of processing single crude oil, they could supply them with blended crude oil.
Sources say that further talks will take place when Russian officials visit Pakistan next month.
A Pakistani delegation visited Russia in late November to discuss the supply of oil and gas at subsidized rates.
After returning from Russia, Malik addressed a news conference and said that Russia has agreed to supply crude oil. However, the prices and payment mechanism are yet to be finalised, for which Russian officials will visit Pakistan next month.
