On April 20, the Pakistani Oil Minister stated that according to a new agreement between Pakistan and Russia, Pakistan has placed the first order of discounted crude oil to Russia, and a batch of cargoes will be docked at the port of Karachi in May.
According to the agreement, Pakistan will only buy crude oil and not refined fuel, and if the first deal goes through smoothly, the import volume is expected to reach 100,000 barrels per day.
Pakistan Refinery Limited will be the first refinery to refine Russian crude and other refineries will join after trial runs, he said.
Russia’s energy minister previously led a delegation to Islamabad in January to hold talks on the deal.
After the talks, he said that oil exports to Pakistan may start after March.