Refusal of Pakistani refineries to refine Russian oil
The reason for not refining Russian crude oil by local refineries was also given
Refusal of Pakistani refineries to refine Russian oil, the reason for not refining Russian crude oil by local refineries was also given. According to the details, Pakistani refineries refused to refine Russian crude oil. Local refineries have described Russian oil as expensive. According to the refinery authorities, if Russian oil is found at cheap prices, it is beneficial to refine it. Due to the cheapness of furnace oil in the international markets, Russian oil is not usable. Furnace oil is produced more from Russian oil. The price has dropped from $80 per barrel to $60, in which case our refineries cannot process Russian oil.
Refinery authorities also informed the Ministry of Petroleum about this situation, it has been suggested that Russian oil should not be imported in the current situation.
It should be noted here that a long-term oil purchase agreement was concluded between Pakistan and Russia in October this year. It was stated that 9 million metric tons of oil will be imported annually under the commercial oil purchase agreement with Russia.
The duration of the contract will be 2 years. Regarding the agreement, it was said by the supervising energy minister Muhammad Ali that it is expected that Russian crude oil will be cheaper by 10 to 15 dollars per barrel from the market. Oil will be bought from Russia at a price of up to 60 dollars. However, now the local refineries of Pakistan have refused to refine Russian crude oil and have suggested to the government that Russian oil should not be imported.
