Tag: crude
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Russian oil imports expected to reduce fuel prices slowly, says Musadik Malik
At the Pakistan Energy Conference 2023, Minister of State for Petroleum, Musadik Malik, reassured the nation that the arrival of cheap oil from Russia would eventually lead to a decline in fuel prices. However, he cautioned that an immediate decrease should not be expected until a continuous supply of oil from Moscow is established.
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International petrol, diesel prices drop, but no relief for Pakistanis
The government has decided not to reduce the prices of diesel and petrol for local consumers, despite a significant decrease in their international prices. This decision is intended to offset previous exchange losses and raise taxation. On February 28, 2023, the average fortnightly prices of petrol and diesel in the global market will be used…
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Russia agrees to supply blended crude oil to Pakistan, rates to be finalised next month
Next month, a delegation from Moscow will visit Islamabad to talk about the potential sale of Russian oil.
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Pakistan to get 20,000 tonnes of additional gas from Azerbaijan
In order to meet domestic demand, Pakistan will import an additional 20,000 tonnes of gas from Azerbaijan in the next two months, according to Minister of State for Petroleum Musadik Malik. The Russian Petroleum Minister will visit Pakistan next month to strike a deal for the purchase of Russian crude oil, the minister said in…
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Pakistan is not ‘pursuing or receiving’ any discounted energy from Russia: FM Bilawal Bhutto
Pakistan is not “pursuing or receiving” any discounted energy from Russia, according to Foreign Minister Bilawal Bhutto Zardari, who is in the US for a seven-day visit. Earlier, State Minister for Petroleum Musadik Malik had announced that Russia had decided to provide crude oil, petrol, and diesel to Pakistan at lesser rates. He had stated that specific…
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Govt slashes petrol price by Rs10 to Rs214.80 per litre
The federal government on Thursday announced a reduction in the price of petroleum products by up to Rs10. Finance Minister Ishaq Dar said that the price of high-speed diesel (HSD) will be decreased by Rs7.5, petrol by Rs10, kerosene oil by Rs10, and light diesel oil (LDO) by Rs10. After the reduction, the new price…
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Experts predict reduction in prices of petrol, diesel
According to oil price forecasts from energy experts, the price of petrol is likely to go down by Rs7.50 per litre, while the price of High-Speed Diesel (HSD) may be reduced by Rs12.37 per litre for the rest of this month. However, there won’t be a reduction in the price of petrol and high-speed diesel…
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Russia agrees to provide petrol and diesel to Pakistan at discounted rates
State Minister for Petroleum Musadik Malik announced on Monday that Russia has agreed to supply Pakistan with cheap petrol, diesel, and crude oil. Malik said he wanted to congratulate the public for a fruitful trip to Russia, calling it “more successful than our expectations,” during a news conference in Islamabad. According to The News, the…
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Russia refuses to give Pakistan 30–40% discount on crude oil
It appears that talks with Russia came to an end without any conclusion since Moscow has refused to offer Pakistan a 30–40 per cent discount on crude oil, claiming that all volumes were committed. During the negotiations, the Pakistani group, which included State Minister for Petroleum Musadik Malik, the joint secretary, and representatives of the…
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Pakistan seeks to import 1.5 million tonnes of petrol from UAE at a negotiated price
In an attempt to begin the process of signing an intergovernmental agreement (IGA), Pakistan will write to the United Arab Emirates this week. The country is looking for a government-to-government contract to import 1.5 million tonnes of gasoline annually. According to The News, Pakistan would import 1.5 million tonnes of motor spirit (Mogas) over a…