KARACHI: The Pakistani government is scheduled to discuss a long-term program for the import of discounted crude oil from Russia with the administration in Moscow next week, officials confirmed on Friday, as the South Asian state seeks to diversify its energy supplies at cheaper rates.
A Pakistani delegation, headed by the interim energy minister, Muhammad Ali, will attend the Russian Energy Week 2023 on October 11-13 at the Manege Central Exhibition Hall in the Russian capital.
Pakistan has already started imported crude oil and liquefied natural gas (LNG) from Russia.
“The Pakistani delegation will be led by the energy minister along with the secretary petroleum to participate in energy week and exhibition,” Shahbaz Tahir Nadeem, the petroleum division spokesperson, told Arab News.
“Talks with Russia for a long-term deal [related to the oil import] are already going on and that may be discussed during the upcoming visit,” he added prudently without divulging further details.
Another petroleum division official, however, said the delegation would hold talks with Russian officials over the subject on the sidelines of the event.
The official, who declined to be named, informed the Pakistani delegation would also discuss LNG import options and the Pakistan Stream Gas Pipeline (PSGP), formerly known the North-South gas pipeline, during the meeting with the Russians.
The PSGP is a project jointly implemented by the two countries in Pakistan.
The petroleum division official informed the paperwork was being finalized by the participants with an option of asking Russians to fix the supply of discounted crude oil at $60 per barrel under the deal.
The official said both sides would also consider the progress on setting up Special Purpose Vehicle (SPV), a legal entity, agreed between them but which has not been formed yet. He added the SPV’s absence was also causing delay in the long-term deal materialization.
The collaboration between Islamabad and Moscow in the energy sector stems from a government-to-government (G2G) agreement signed earlier this year. This move by the South Asian nation is aimed at expanding its sources of energy imports while securing cost-effective options.
Under the G2G deal Pakistan has already imported 100,000 ton of crude oil in June this year which prompted then-prime minister Shehbaz Sharif to describe it as a “transformative day” for his economically struggling country.
The crude oil import was followed by a delivery of 100,000 metric tons of liquefied petroleum gas (LPG) to Pakistan by Moscow through Iran late last month.
This week Cnergyico oil refinery announced to have imported the first shipment of Russian crude oil consisting 100,000 metric ton, under private arrangement.
Pakistan plans to import 20 percent of its total oil requirement from Russia under discounted rates, according to the former energy minister, Musadik Malik, who made the announcement in May this year.
Pakistan to discuss long-term deal for discounted crude oil import from Russia next week
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Pakistan to discuss long-term deal for discounted crude oil import from Russia next week
- A senior official says Pakistan wants to explore the option of securing Russian oil supply at the fixed price of $60
- The discussions over bilateral energy sector cooperation will be held on the sidelines of an energy event in Moscow
Pakistan military says 12 militants killed in counter-terror operations in southwest
- Pakistan military says “Indian-sponsored terrorists” were killed in southwestern Kalat district on Dec. 6
- Development takes place day after military said it gunned down five militants in Balochistan’s Dera Bugti area
ISLAMABAD: Pakistani security forces killed 12 “Indian-sponsored terrorists” in the southwestern Balochistan province, the military’s media wing said on Sunday, vowing to purge “terrorism” from the country.
The security operation was carried out in Balochistan’s Kalat district on Dec. 6, the Inter-Services Public Relations (ISPR), the military’s media wing, said in a statement. It said the militants belonged to Indian proxy “Fitna al Hindustan.”
The military uses this term to describe ethnic Baloch militant groups who demand independence from Pakistan. Islamabad accuses New Delhi of arming and funding these separatist groups, charges India has always denied.
“Weapons, ammunition and explosives were also recovered from the terrorists, who remained actively involved in numerous terrorist activities in the area,” the ISPR said.
The military said that it was carrying out sanitization operations in the area to eliminate other “terrorists,” vowing it will continue with its relentless counter-terror campaign to purge militancy.
The development took place a day after the Pakistan military said it had gunned down 14 militants in the northwestern Khyber Pakhtunkhwa (KP) and Balochistan provinces.
Balochistan, Pakistan’s largest province by since yet its most backward by almost all social and economic indicators, has suffered from a bloody separatist insurgency for decades.
The most ethnic Baloch militant group that has mounted attacks against law enforcement and civilians in the area is the Balochistan Liberation Army.
These militant outfits accuse the military and federal government of denying the local Baloch population a share in the province’s mineral wealth, charges Islamabad denies.
