A report that was released today claims that the Russian government made the offer on Thursday during a virtual conference of their respective governments.
Senior officials from the Petroleum Division and industry representatives 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 pertinent departments made up the Russian side.
The Pakistani government told its Russian colleagues that their nation needs crude oil, petroleum products, gas, and infrastructure investment, according to sources with knowledge of the meeting’s events.
When a group from Russia visits Pakistan in the third week of January 2023, the Russian side informed the Pakistani authorities that they will further discuss their willingness to collaborate with them.
They added that Russia would provide Pakistan with 100,000 barrels of crude oil per day. They were informed by Pakistani authorities, nevertheless, that the nation’s refineries handled light crude oil and used hydro-skimming technology. They continued by saying that light crude oil would be more appealing since it would be easier to refine.
In the event that Pakistani refineries are unable to handle a particular crude oil, the Russian authorities indicated they will be able to supply them with mixed crude oil.
More conversation, according to the sources, will take place when Russian officials visit Pakistan next month.
At the end of November, a delegation from Pakistan travelled to Russia to have discussions over the delivery of gas and oil at reduced prices. Following his return from Russia, Dr Musadik Malik said during a press conference that Russia has consented to provide crude oil. The Russian authorities would visit Pakistan next month to finalise the prices and methods of payment, but they had not yet done so.