Russia agrees to supply blended crude oil to Pakistan, rates to be finalised next month

A delegation from Moscow will visit Islamabad in January 2023 to talk about the potential sale of Russian oil.

Officials from Russia and Pakistan met via video link to discuss purchasing crude oil and petroleum products from Moscow, according to government sources.

Musadik Malik, Pakistan’s State Minister for Petroleum, and the Secretary for Petroleum took part in the online meeting.

Due to Pakistan’s inability to refine crude oil of a single specification, Russia has offered to supply Pakistan with blended crude oil. The offer represents a portion of the daily supply of 100,000 barrels of crude oil.

Senior officials from the Petroleum Division and representatives from the oil industry made up the Pakistani side, which was chaired by State Minister for Petroleum Dr Musadik Malik, while senior officials from the Russian energy ministry and relevant departments constituted the Russian side.

The Pakistani government informed its Russian counterparts that their nation needs crude oil, petroleum products, gas, and infrastructure investment, according to sources with knowledge of the meeting’s activities.

According to The News, when a delegation from Russia visits Pakistan, the Russian side stated that they will further consider their intentions to collaborate with the Pakistani authorities.