Pakistan Halts Russian Crude Oil Imports Due to Refining Imbalance

In a notable development, Pakistan Halts Russian Crude Oil Imports from Russia, attributing the move to an imbalance observed during the refining process. Sources within the energy sector have reported that the production of furnace oil exceeded that of petrol, prompting this decision. The situation has garnered political and diplomatic attention, mainly due to the secrecy surrounding the price and arrival of Russian oil in Pakistan.

Industry insiders revealed that despite former state minister Musadik Malik’s insistence, the Pakistan Refinery has chosen to discontinue refining Russian oil for the time being. This decision stems from the fact that the processing of Russian oil yielded a higher proportion of furnace oil compared to Arabian crude oil, resulting in less petrol production.

Recent data shows that only two shipments of crude oil from Russia arrived at the Karachi Port on June 11 and 26. Subsequently, there have been no further deliveries of Russian oil to Pakistan.

Experts weigh in on the situation, suggesting that the viability of purchasing Russian oil may only arise if the prices of Brent crude oil and Arab Light Sea crude oil continue to rise, and the price of Russian oil remains stable. However, such a scenario is deemed unlikely by industry observers. As Pakistan navigates these complex considerations, the decision to suspend Russian crude oil imports reflects the country’s ongoing efforts to strike a balance in its energy sector.

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