Pakistan's Minister for Petroleum Musadik Malik said that Russia would supply discounted oil on Friday, contradicting the country's Foreign Minister Bilawal Bhutto Zardari who said that Islamabad is not pursuing cheaper energy supplies.
In an interview with PBS Newshour, Bhutto Zardari said that Pakistan’s infrastructure is not made for Russian oil, "though the country could engage with the country on cheap energy in the future.”
However, confirming reports that Islamabad is in talks with Moscow on Russian oil supplies, the Pakistani petroleum minister said that Pakistani refineries are pretty suited for light crude oil of Russian origin.
“Before leaving for Russia, we met [officials of these] refineries. Pakistan Refinery Ltd informed us that it can use up to 50 percent light crude oil of Russian origin,” Malik said during a press conference in Islamabad.
Russia also said it would provide refined products — petrol and diesel, he added.
Local media reported that a Russian delegation would visit Islamabad in January to formally announce the decision on energy supply to the south Asian country reeling from a severe foreign exchange crisis.
Pakistan’s foreign exchange reserves plummeted to around $6 billion, threatening the country with default on foreign debt.
Russian President Vladimir Putin and Pakistan PM Shahbaz Sharif held a wide range of discussions in Uzbekistan on the sidelines of the Shanghai Cooperation Organisation (SCO) summit.
During the talks held in September, the two leaders discussed matters related to oil, gas and wheat supplies to Pakistan from Russia.