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Sharif and Putin’s discussion on crude oil cooperation

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It has been reported that Pakistan may potentially secure a beneficial crude oil deal with Russia, if the Prime Minister of Pakistan, Shehbaz Sharif, reaches out to the President of Russia, Vladimir Putin.

Pakistan is interested in procuring around 100,000 barrels per day of Russian crude oil, and if the nation’s refineries are able to effectively synchronize with the blended Russian crude oil, then the quantity of crude oil imported from Russia could be increased accordingly.

Discussions between the two countries are currently taking place in order to finalize a Memorandum of Understanding or protocol for energy trade, which may be signed at the conclusion of three-day talks.

However, Moscow has communicated to Islamabad that they will only announce the price of Russian crude oil for Pakistan once a formal agreement for energy trade has been signed, which would demonstrate the seriousness of the Government of Pakistan towards the energy trade.

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