Pakistan, Russia to sign oil deal in March
- By Web Desk -
- Jan 26, 2023
ISLAMABAD: Petroleum ministry on Thursday announced to sign oil deal with Russia in March amid the fuel crisis in the country, ARY News reported.
Addressing the press conference, Petroleum Minister Musadik Malik announced that Pakistan will sign a crude oil contract with Russia in march.
He further announced that another contract with Russia for liquefied natural gas (LNG) to overcome the gas crisis will be signed next winter.
Following the Russian oil contract, Musadik Malik said that all commercial deals will be signed in March, following which Pakistan will get fuel at a discounted price.
Musadik informed that the Russian energy minister has asked its two companies to sign contracts with Pakistan, adding that at least 20,000 tonnes of LPG have been procured through Sui Southern Gas Company (SSGC) and Pakistan State Oil (PSO).
It is pertinent to mention here that, last week talks were held between Pakistan and Russian officials in Islamabad for crude oil and LNG deal.
As per details, the meeting of Pakistan, and Russian inter-governmental delegations are underway in Islamabad. The ministerial-level dialogue will be held tomorrow, the sources said.