Russian crude oil arrived in Karachi on Sunday, opening new doors of cooperative trade relations between Pakistan and Russia.
PM Shehbaz announced on Twitter that he had fulfilled another promise to the nation and that it was a transformative day, marking the prosperous journey ahead.
Pakistan received crude oil at a discounted rate of up to $18 per barrel. Following the Platts crude oil prices, this means a discount of $16-18 per barrel as per reports.
Oil to be Discharged from 12th June
The shipment reached Pakistan via Oman and left Russia over a month ago. The discharge of the oil would be processed by the Pakistan Refinery Limited (PRL), and discharge would begin on Monday, 12th June (today)
Through Oman, the cargo of 100,000 metric tons reached Pakistan. It was split into two at Oman because the Karachi port couldn’t handle a shipment of this size. Therefore, two smaller ships, carrying 50,000 metric tons of oil each, were sent to Karachi.
As per reports, the shipment is a test case to examine the quality and ratio of refined products. A detailed report would be sent to the federal government for long-term commercial oil deals in the future.
One Step Towards Prosperity
The PM took to his Twitter stating that the country is moving one step at a time towards prosperity, energy security and affordability, and economic growth.
Shehbaz Sharif also commended those who became a part of this great endeavor and contributed towards making this milestone a reality.