“Mir reported that the company will refine Russian crude oil, when it will be available on favorable commercial terms, asserting that discussions about another spot deal are in process,” as quoted by the Geo Group.
The representative of Pakistan Refinery Limited also rebuffed claims that Pakistan's imports of Russian oil were put on hold because of refinery challenges. Last week, Pakistani media reported that the country had suspended imports of Russian crude. The reason was that during the refining process, Russian crude oil produced more fuel oil and less gasoline than crude oil from Saudi Arabia.
“The Russian crude oil was successfully refined and the spot transaction was technically and commercially viable,” Zahid Mir stated.
In April this year, Pakistan placed an order for 100, 000 tons of Russian crude oil, which came as a follow-up to months if bilateral talks on oil deliveries. Two crude oil vessels arrived in Karachi on June 11 and 26, respectively. After that, however, there was a pause in the supplies.
The total crude supplies of Russian oil to Pakistan are estimated to be 101,000 tons of crude oil. Russian oil is supplied to Pakistan Refinery Limited, where the Russian crude is blended with Arabian light oil.