Pakistan is poised to initiate negotiations for the acquisition ofadditional discounted Russian oil in the near future, with authoritiesharboring optimism about securing a long-lasting agreement.
According to sources within the energy ministry, a Pakistani delegation isscheduled to embark on a trip to Russia on October 9. During this visit,the delegation aims to engage in discussions regarding the potentialestablishment of enduring contracts encompassing both oil and gastransactions.
In this forthcoming negotiation, Pakistan is anticipated to propose apricing point of $60 per barrel for Russian oil. This proposition will becrafted with meticulous consideration of price ceilings that have beenenforced by the United States and various other nations.
Should an accord materialize from these discussions, Pakistan could realizesubstantial cost savings, estimated at approximately Rs10,000 per barrel,in its oil imports. This substantial reduction translates to an approximatedifference of Rs60 per litre, signifying a potentially transformativeeconomic benefit for the nation.
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In summary, Pakistan is preparing to commence talks aimed at procuring morediscounted Russian oil with the aim of solidifying a long-term partnership.The delegation’s trip to Russia on October 9 will facilitate negotiationsconcerning both oil and gas transactions. The proposed price point of $60per barrel for Russian oil will be influenced by global price constraints.If successful, this agreement could lead to significant cost savings forPakistan’s oil imports, with the potential to reshape the nation’s economiclandscape.
