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Pakistan urges Russia for 30-40% discount on crude oil

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ISLAMABAD: Russia refused to give Pakistan a 30-40% discount on Russian crude oil, saying that it could not offer anything right now as all volumes were committed, A private news agency on Thursday. 

The Pakistan delegation — comprising of State Minister for Petroleum Musadik Malik, joint secretary and officials of the Pakistan Embassy in Moscow — asked for a discount during talks in Moscow.

The talks ended with no cogent conclusion but the Russian side promised to consider Pakistan’s demand and to share its mind later on through diplomatic channels.

However, sources said that Russia can offer crude at the rates it is providing to its large client countries, which are reliable and sound economies, at a suitable time. Right now all volumes are committed with big buyers, they said.

The Russian side asked Pakistan to first honour its commitment to the flagship project of the Pakistan Stream Gas Pipeline to be laid down from Karachi to Lahore, Punjab. 

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