Pakistan to receive first shipment of Russian crude oil in coming days

The initial shipment of 100,000 tons of crude oil for Pakistan is expected to reach Oman Port by the end of the month, from where it will be transported to Pakistani ports using smaller ships, according to Minister of State for Petroleum, Dr. Musadik Malik.

The imminent arrival of the first shipment of Russian oil in Pakistan marks a significant step towards addressing the country’s energy needs.

Speaking informally to the media, Dr. Musadik explained that the decision to anchor the oil shipment at Oman Port was primarily driven by logistical considerations. The use of smaller ships for the onward journey was deemed the most practical and efficient solution to overcome these challenges.

Highlighting the country’s energy needs, Dr. Musadik emphasized that Pakistan’s annual demand for petrol and diesel currently stands at 20 million tons. However, local production can only meet around 10 to 11 million tons annually. While there has been a significant decrease in the consumption of furnace oil over time, the demand for petrol and diesel continues to rise.

To address the increasing demand for petroleum products, the minister stressed the urgent need for a deep conversion refinery with a capacity of three to four million barrels. Such a facility would help bridge the supply-demand gap and ensure energy security for the nation. Without the establishment of additional refineries, projections indicate that by 2032, the demand for petrol and diesel alone could reach a staggering 33 to 34 million tons, resulting in a shortfall of approximately 22 million tons that would need to be imported.

Recognizing the importance of infrastructure development, Dr. Musadik stated that the government is ready to collaborate with international investors to establish the necessary facilities for crude oil storage. This collaboration would not only help meet the country’s energy requirements but also create opportunities for economic growth and job creation.

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