According to the news agency, a Russian oil ship named “Clyde Noble” carrying crude oil arrived in Karachi on Tuesday and is still anchored there.
“As soon as the berthing plan of the ship is finalized, the work of bringing it to the oil pier will start,” said the report.
In accordance with a new agreement reached between Islamabad and Moscow earlier this year, the first cargo carrying more than 45,000 metric tons of discounted Russian crude oil arrived in Karachi in June.
According to Petroleum Minister Musadik Malik, Pakistan imported discounted Russian oil for the first time using Chinese cash.
Musadik Malk stated that the transaction, which was Pakistan’s first G2G agreement with Russia, involved 100,000 tons. In April, Pakistan made the deal.
Malik recently refuted social media rumors that Russian oil had reached in Pakistan via India. He claimed that Pakistan Refinery Limited (PRL) will process Russian crude.
Refining of Russian Crude Oil
The PRL will first do a test refinement of the Russian crude. He added that private refineries and the Pak-Arab Refinery (Parco) would also begin accepting the shipments.
The PRL experts affirmed that after blending with Arabian light crude, this gasoline could be used. The Arabian light crude could be blended with 30-35 percent Russian fuel, which indicated that this fuel could supply one-third of Pakistan’s fuel requirements.
Pakistan’s import bill is largely made up of oil and energy, and the nation is currently experiencing a balance of payments crisis as a result of its declining foreign reserves.
In addition to its current energy problems, the South Asian country has had difficulty obtaining liquefied natural gas (LNG) from the global market due to high spot prices.
Six delivered-ex-ship (DES) containers for delivery to Port Qasim in October and December did not receive any offers from Pakistan LNG Limited (PLL), a government-owned company that buys LNG from the international market.
The nation has been restricting supplies to residential and commercial customers due to declining local gas reserves.
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