Malik played down concerns about the financial viability and localrefineries’ ability to process Russian crude. He said, “We’ve runiterations of various product mixes, and in no scenario will the refiningof this crude make a loss.” “We are very sure it will be commerciallyviable,” he added.
Malik said it will be mixed with around 60-70% Arabian light crude forrefining. He said, “No adjustments (were) needed at the refinery to refinethe Russian crude.”‘Looking to target one-third of Pakistan’s total oil imports from Russia’
Energy imports make up the majority of the Pakistan’s external payments.Islamabad imported 154,000 bpd of oil in 2022, around the same as theprevious year, data from analytics firm Kpler showed. “We’re looking totarget one-third of our total oil imports at the Russian crude,” Malik said.
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The crude was predominantly to Pakistan supplied by the world’s topexporter Saudi Arabia and then the United Arab Emirates.