PM Shehbaz Sharif announces arrival of first Russian discounted oil delivery in Karachi.
PM Shehbaz
Shahbaz Sharif has declared that the first shipment of cheap Russian oil has arrived in Karachi.”I have fulfilled another of my promises to the nation,” the prime minister continues.A ship carrying Russian oil arrived in Karachi for the first time ever on Sunday, according to a report.the PM used Twitter to declare that he had kept another campaign promise. Oil discharge will begin tomorrow in Karachi after the arrival of the first discounted Russian crude oil delivery. The Prime Minister referred to it as a “transformative day” for the nation.Islamabad and Moscow reaffirmed their commitment to one another in April by signing a new agreement that allowed Pakistan to buy Russian crude oil at a reduced price.
Russian oil tanker
The 183-meter long Russian oil tanker Pure Point with a load of 45,000 metric tonnes of oil arrived at birth number 2 at the port.He went on to say, “We are moving one step at a time towards prosperity, economic growth, energy security, and affordability.”He claimed that this shipment marked the beginning of a new era of cooperation between Pakistan and Russia by sending the first Russian oil cargo to Pakistan.I applaud everyone who stuck with “this national endeavour” and helped make Russian oil import a reality, he said.Initially, Pakistan predicted that the Russian ship would arrive in Oman on May 27–28.The News reported on June 6 that an official said a Russian cargo ship carrying 100,000 tonnes of crude oil arrived at the Omani port of Duqm on June 7.
Ural crude
“The vessel, which was loaded with Ural crude on April 21 at a Russian port, was delayed for 10 days due to technical reasons,” the spokesman explained.After waiting in queue for 12 days, it finally made it through Egypt’s Suez Canal on May 17.On June 20th, Port Qasim will receive the final 50,000 metric tonnes of Russian crude. Officials have given their word that the shipment of Russian crude oil will make it to its destination without a hitch. The person said the holdup is due to complications with transporting Russian crude oil.”The delay in the arrival of the cargo will not increase the transportation cost as it is already settled with the Russians,” he said. However, the country will suffer if the price of crude oil falls in the meantime.
Pakistan Refinery Limited
Pakistan Refinery Limited (PRL) will process the trial shipment of Russian crude oil by combining it with crude oil from the United Arab Emirates and Saudi Aramco.PRL is responsible for providing the government with an evaluation of the oil’s purity, productivity, and marketability. The government can use the test load to calculate transportation expenses, refinery costs, and refinery margins.Byco Petroleum, PRL, National Refinery Limited, Pak Arab Refinery Limited, and the rest of the refineries in Pakistan import over 70% of the crude oil they use in their operations. Local refineries like Attock Refinery Limited produce and refine the remaining 30%.With oil prices on the rise around the world, Pakistan is taking this step to diversify its oil imports.
