Musadik Malik, the state minister for petroleum, announced on Monday that Russia has chosen to offer Pakistan reduced crude oil, gasoline, and diesel.
Finance Minister Ishaq Dar stated earlier this month that Islamabad intends to join into the petroleum import agreement with Moscow on conditions identical to those decided by New Delhi, despite the United States’ resistance to Pakistan’s purchase of Russian oil. According to two individuals familiar with the situation who spoke to Reuters on the condition of anonymity, Malik and the petroleum secretary travelled to Russia last week for talks on topics such as the supply of gas and oil.
Russia has decided to provide Pakistan crude at discounted rates this is the oil that refineries use to produce diesel and petrol. Russia will also give petrol and diesel to Pakistan at reduced prices, he stated.
He said that all issues in the energy industry will be handled with discounted Russian petroleum.
Malik said that due to “international pressure,” Russia had run out of liquefied natural gas (LNG) and had set up a meeting between the delegation and private businesses. He said that discussions had started with the Russian businesses.
According to Malik, the Russian government is establishing plants to generate LNG. He also asked Pakistan to start negotiations on long-term contracts for 20252026.
He asserted that discussions for two gas pipelines had begun and that Russia was interested in supplying Pakistan with pipeline gas. The ministry announced that a Russian intergovernmental group led by the nation’s energy minister would visit Pakistan in January of the following year.
According to Malik, the demand for gas has surged since last year while the supply from Pakistani wells is declining 810% annually.
The minister went on to say that despite the rise in demand, “gas delivery continues, and firms also have tight directives to assure gas supply,” He added that the gas provision was greater than the previous year and was continually being reviewed.