HomeBusinessEconomyPakistan not getting discounted crude oil from Russia

Pakistan not getting discounted crude oil from Russia

Given that Moscow has declined to provide Pakistan a 30–40% discount on crude oil and has asserted that all volumes have been committed, it appears that negotiations with Russia came to an end without any resolution.

The Pakistani delegation, which comprised the joint secretary, officials of the Pakistani Embassy in Moscow, and State Minister for Petroleum Musadik Malik, demanded a reduction during the negotiations.

Russia, meanwhile, has promised to study Pakistan’s request and to later express its views via diplomatic channels.

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The Pakistan Stream Gas Pipeline, which will be built from Karachi to Lahore, Punjab, was mentioned by the Russian side as an example of how Pakistan should start following its promise.

The Pakistani side made a request to change the PSGP project’s model during the negotiations. The Russian side asserted that the concept of the project under the GtG structure had already been defined and that only a few terms of the shareholder agreement needed to be finalized.

A three-day conference with Russian officials was held in Moscow on November 29 to explore the prospect of importing crude oil at a lower price as well as the method of payment and shipping expenses, according to Geo.



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