Pakistan to receive first batch of Russian crude oil in June

May 29, 2023 (MLN): The first Russian Crude Oil ship with 100,000 tonnes of oil is expected to hit the Pakistani port by the first week of June.

The ship has reached Oman port, where a smaller ship will take the oil to Port Qasim, Karachi, in around 10 days in two batches of 50,000 tonnes each.

Musadik Malik, State Minister for Energy told the media that “Russian cargo carrying 100,000 tons Urals will reach at Oman port on May 26-27 where oil in small vessels will be transported to Pakistan in seven to 10 days.”

Pakistan Refinery Limited (PRL) will process all the URAL crude from Russia by blending it with the crude oil imported from UAE and Saudi Aramco.

This is in reference to the deal between Islamabad and Moscow earlier in April, when Pakistan placed its first order for Russian crude oil, with a total of 750,000 barrels.

A senior official of the Energy Ministry told the media that “Pakistan will pay the price of crude most probably in China’s currency—Yuan and the Bank of China may play its role for transactions,” as The news reported.

Copyright Mettis Link News