Government opens consultation on procuring Russian Oil

June 29, 2022 (MLN): The coalition govt has began consultation on procuring Russian oil and fuel at significantly more cost-effective rates than at present available in the global market.

In this regard, the Petroleum Division has prepared a letter to the head of four main oil refineries – Pak-Arab, Nationwide Refinery, Pakistan Refinery Limited (PRL) and Byco Petroleum.

As for every the letter, the petroleum division has requested oil refineries about the value of the acquisition of petroleum items from Russia. In addition, the ministry also asked refineries about the amount and quality of oil that can be acquired from Russia.

The ministry has also sought cost and gain evaluation-dependent specifics of Transportation/freight prices for imports from Russia in comparison with typical imports from the Center East.

 “What will be the approach of payment for crude oil obtained from Russia”, the ministry requested the oil refineries in a letter.

What’s more, the present motivation of upliftment from the Arab Gulf area with respect to Time period Contracts has also been asked for.

Resources claimed that officials of the Petroleum Division have held independent casual conferences with heads of oil refineries. The coalition authorities will hold a meeting with 4 key refineries today (Wednesday), ARY documented.

Meanwhile, it is important to mention that previous key minister Imran Khan and his cabinet had been all set to purchase oil at 30% less costly prices as opposed to other suppliers. However, his federal government was ousted from electric power because of to Russia’s stop by.

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Posted on: 2022-06-29T12:35:53+05:00

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