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Pakistan Sets Sights on Russian Crude: Fuelling Energy Dreams

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KARACHI: While Pakistan eagerly awaits the arrival of its shipment of budget-friendly Russian crude oil, State Minister for Petroleum, Mussadik Malik, expressed the coalition government’s ambitious goal of procuring one-third of the nation’s entire crude oil needs from Russia. This significant development was reported by The News on Friday.

During a press interaction after attending an event in the city, the state minister unveiled the government’s successful conclusion of a comprehensive energy security agreement with Russia, which encompasses various facets of energy supply within the country.Mallik emphasized, “We aspire to establish an energy corridor with Central Asia akin to the one we have with Gulf countries.”

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He further elaborated, stating that such a corridor would lead to a reduction in energy costs across the nation, ultimately fostering the growth of industrial clusters and adding value to the agricultural sector.

When questioned about the discounted price of the imported Russian crude oil, Malik tactfully refrained from divulging the specifics of the commercial deal, citing contractual obligations.In a subtle dig at former prime minister Imran Khan, the minister affirmed that the government prioritizes practical actions over empty rhetoric that may undermine national interests.Furthermore, the minister disclosed that the government’s primary objective is to secure 18-20% of its total crude oil imports from Russia, with the anticipation that this strategic move will significantly mitigate petroleum product prices for domestic consumers.

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