Petroleum division seeks recommendations for importing crude oil from Russia

In a major development towards importing crude oil from Russia, the Department of Energy has requested recommendations from local refineries regarding the option of importing crude oil from Russia.

The Ministry of Energy (Petroleum Division), in a very immediate letter to the Managing Directors of local refineries, including Pak-Arab Refinery Limited, National Refinery Limited, Pakistan Refinery Limited and Byco Petroleum Pakistan Limited, requested to provide a detailed analysis regarding possibility of importing crude oil from Russia with recommendations.

According to the letter from the Ministry of Energy (Petroleum Division), the four local refineries are invited to submit the technical suitability of crude oil grades given the configuration and performance of each refinery (Vol%), quantity and quality of the crude in question to be required by the refinery, transportation/freight analysis for imports from Russia versus normal imports from the Middle East based on cost benefit analysis , the method of payment and the existing improvement commitment of the Arab Gulf region with regard to futures contracts.

It is pertinent to mention that former Prime Minister Imran Khan, after his ousting, repeatedly repeated a mantra that his government planned to import cheaper oil and wheat from Russia, but they were sent through an American conspiracy.

However, there is reportedly no documentary evidence in the oil division of Russia’s supply of cheap LNG, crude oil and POL products, as former Prime Minister Imran Khan has repeatedly claimed. Even Minister of State for Petroleum Musadik Malik, while rejecting the former Prime Minister’s claim that he was getting cheap oil from Russia, repeatedly stated that no such document was available in the oil division to prove Khan’s claim.

About Jean R. Manzer

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