Despite no exclusive discount from Russia for ‘Urals’ crude oil purchase, Petroleum Minister Musadik Malik affirms that the deal is still significantly advantageous for Pakistan due to increased furnace oil yield and reduced import costs.
Russia’s Energy Minister, Nikolai Shulginov, confirmed the commencement of oil exports to Pakistan but clarified that the pricing is standard for all buyers.
Read: Russian Energy Minister Denies Special Discount on Oil for Pakistan
Russia has agreed to accept payments in Chinese currency, a detail that Prime Minister Shehbaz Sharif emphasized when he announced the arrival of the first oil cargo from Russia in Karachi.
Shulginov also mentioned potential barter supplies between the two nations, though no final decision has been taken. Discussions on pricing for long-term liquefied natural gas exports to Pakistan are ongoing, with the current focus on spot supplies due to high prices.
