AIRLINK 73.00 Decreased By ▼ -2.16 (-2.87%)
BOP 5.35 Decreased By ▼ -0.10 (-1.83%)
CNERGY 4.31 Decreased By ▼ -0.08 (-1.82%)
DFML 28.55 Increased By ▲ 0.91 (3.29%)
DGKC 74.29 Increased By ▲ 2.29 (3.18%)
FCCL 20.35 Increased By ▲ 0.06 (0.3%)
FFBL 30.90 Decreased By ▼ -0.15 (-0.48%)
FFL 10.06 Increased By ▲ 0.09 (0.9%)
GGL 10.39 Increased By ▲ 0.12 (1.17%)
HBL 115.97 Increased By ▲ 0.97 (0.84%)
HUBC 132.20 Increased By ▲ 0.75 (0.57%)
HUMNL 6.68 Decreased By ▼ -0.19 (-2.77%)
KEL 4.03 Decreased By ▼ -0.17 (-4.05%)
KOSM 4.60 Decreased By ▼ -0.17 (-3.56%)
MLCF 38.54 Increased By ▲ 1.46 (3.94%)
OGDC 133.85 Decreased By ▼ -1.60 (-1.18%)
PAEL 23.83 Increased By ▲ 0.43 (1.84%)
PIAA 27.13 Decreased By ▼ -0.18 (-0.66%)
PIBTL 6.76 Increased By ▲ 0.16 (2.42%)
PPL 112.80 Decreased By ▼ -0.36 (-0.32%)
PRL 28.16 Decreased By ▼ -0.59 (-2.05%)
PTC 14.89 Decreased By ▼ -0.61 (-3.94%)
SEARL 56.42 Decreased By ▼ -0.91 (-1.59%)
SNGP 65.80 Decreased By ▼ -1.19 (-1.78%)
SSGC 11.01 Decreased By ▼ -0.16 (-1.43%)
TELE 9.02 Decreased By ▼ -0.12 (-1.31%)
TPLP 11.90 Decreased By ▼ -0.15 (-1.24%)
TRG 69.10 Decreased By ▼ -1.29 (-1.83%)
UNITY 23.71 Increased By ▲ 0.06 (0.25%)
WTL 1.33 Decreased By ▼ -0.01 (-0.75%)
BR100 7,434 Decreased By -20.9 (-0.28%)
BR30 24,206 Decreased By -44.4 (-0.18%)
KSE100 71,359 Decreased By -74.1 (-0.1%)
KSE30 23,567 Increased By 0.5 (0%)

A Russian oil vessel ‘Clyde Noble’ carrying crude oil reached Karachi on Tuesday and is currently anchored at the Karachi Port, reported Aaj News.

“As soon as the berthing plan of the ship is finalised, the work of bringing it to the oil pier will start,” said the report.

In June, the first cargo carrying over 45,000 metric tons of Russian crude oil, arranged under a new deal struck between Islamabad and Moscow earlier this year, arrived in Karachi.

Pakistan paid for its first government-to-government import of discounted Russian crude in Chinese currency, Petroleum Minister Musadik Malik told Reuters back then.

Malik said that the purchase, Pakistan’s first government-to-government (G2G) deal with Russia, consisted of 100,000 tonnes. Pakistan made the purchase back in April.

Days ago, Malik negated stories on social media that Russian crude oil arrived in Pakistan from India. He said it was Russian crude which would be refined by Pakistan Refinery Limited (PRL).

The Russian crude will first be refined by the PRL in a trial run. The Pak-Arab Refinery (Parco) and private refineries would also start receiving the shipments, he said.

The PRL experts confirmed that this fuel could be used after blending with Arabian light crude: 30-35 percent Russian fuel could be mixed with the Arabian light crude, which meant that this fuel could account for one-third of Pakistan’s fuel needs.

Oil and energy make up the largest portion of Pakistan’s import bill and the country is struggling with a balance of payments crises due to dwindling foreign reserves.

Meanwhile, the South Asian nation has also struggled to procure liquefied natural gas (LNG) from the international market because of high spot prices, adding to its ongoing energy woes.

Pakistan LNG Limited (PLL), a government subsidiary that procures LNG from the international market, did not receive offers for six cargoes on a delivered-ex-ship (DES) basis for October and December delivery to Port Qasim.

With dwindling local gas reserves, the country has been rationing supplies to residential and commercial consumers.

Comments

Comments are closed.

Johnny Walker Jun 27, 2023 03:26pm
Russian crude sold and destined to India was "probably" diverted. Russian crude to India is transported in large ships of 100,000 tons or more capacity, which Indian ports can handle. Russia requested India to forego this one cargo only, which India agreed. A Dubai agency was involved in the transaction. That is why this cargo on-route to India had to be decanted onto smaller vessels in Oman as Pakistani ports cannot handle this large tonnage. End products are going to be much more expensive than Arab crude.
thumb_up Recommended (0)
Tulukan Mairandi Jun 27, 2023 04:00pm
This is a total farce. The cargo was meant for India, and is very "heavy" grade in a massive tanker only suitable for refining in specialized Indian refineries / offloading in Indian ports. The landed cost in Pakistan is already $90 a barrel. This will be the last we hear of "Russian oil".
thumb_up Recommended (0)
Tulukan Mairandi Jun 27, 2023 04:16pm
@Johnny Walker, Pakistan will be better off buying refined petroleum from India. Super cheap, Europe is snapping it up. But Pakistan is not known to be very smart. They shoot their own feet for Kashmir.
thumb_up Recommended (0)
imdad kolori Jun 27, 2023 04:35pm
its not discounted , the only thing discounted are the amount of brain cells in this govt and this minister
thumb_up Recommended (0)
Johnny Walker Jun 27, 2023 04:54pm
@Tulukan Mairandi, Pak will readily buy if commission is available via Dubai Iqama.
thumb_up Recommended (0)
Builders Jun 27, 2023 09:36pm
I should perhaps quit. This place is now littered with Indian media warriors. Good luck!
thumb_up Recommended (0)
Az_Iz Jun 27, 2023 11:37pm
The ‘grade’ issue of the crude is not a new topic. It has appeared in past articles , and is dealt with , already.
thumb_up Recommended (0)