First cargo of discounted Russian crude oil arrives in Karachi: PM Shehbaz

[salarsikander]

Tatti Army Smuggling Oil from Iran has destroyed business - This cancer of Jernails will kill Pakistan one day

 

[farok84]

Russia Says It's Selling Oil to Pakistan Without 'Special Discount'

Statement contradicts Pakistan's claims it was receiving Russian oil at discounted price

www.voanews.com

Russia Says It's Selling Oil to Pakistan Without 'Special Discount'​

June 16, 2023 7:16 PM

• Ayaz Gul

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FILE - In this photo released by Karachi Port Trust, a Russian ship carrying oil is anchored at a port in Karachi, Pakistan, June 11, 2023.
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ISLAMABAD —
Russia confirmed Friday that it had started exporting oil to Pakistan and had agreed to accept Chinese currency as payment, clarifying that the South Asian country did not receive any exclusive discounts on the purchase deal.

Pakistani Prime Minister Shehbaz Sharif announced Sunday that the first "Russian discounted crude oil cargo" had arrived and offloaded at the port in the southern city of Karachi.
Sharif touted the shipment as "the beginning of a new relationship" between Islamabad and Moscow. His petroleum minister later revealed Pakistan had paid in yuan for the first government-to-government Russian crude oil import.

Russian Energy Minister Nikolai Shulginov said there was no reduced pricing for Pakistan.

"Oil deliveries to Pakistan have begun. There is no special discount; for Pakistan, it is the same as for other buyers," Russian state media quoted Shulginov as telling reporters on the sidelines of an international economic conference in St. Petersburg.
His remarks raised questions about official Pakistani assertions that Moscow had agreed to supply oil to Islamabad at a discounted price under a deal the two sides negotiated earlier this year.

"We agreed that the payment would be made in the currencies of friendly countries," Shulginov said when asked for a response to Pakistani assertions that the trade is taking place in Chinese currency. He also confirmed that the issue of barter supplies was also discussed, "but no decision has been made yet.”

Cash-strapped Pakistan earlier this month allowed its state and private entities to open barter trade with several countries, including Russia, in an attempt to ease pressure on Islamabad's rapidly depleting foreign exchange reserves.

Shulginov said that the two countries had not yet reached an understanding on prices for the export of liquefied natural gas to Pakistan. He noted that "the discussion is about long-term contracts, but so far, we are talking about spot supplies, and spot gas prices are now high."
Pakistan has purchased 100,000 metric tons of Russian crude oil, of which 45,000 tons arrived earlier this week, said Petroleum Minister Musadik Malik. He told the media on Monday that the payment was made in Chinese yuan and said that there would be a reduction in local oil prices in a few weeks. But Malik did not disclose details such as pricing or the discount Islamabad received, as claimed by Sharif.

https://twitter.com/x/status/1667915539241398272

However, the deal in yuan marked a significant shift in the U.S. dollar-dominated export payments policy as Pakistan faces a cash crunch and default on external debt.
Energy imports make up the majority of the country's external payments. The foreign exchange reserves held by the central bank have dipped to around $4 billion, barely enough to cover a month of controlled imports.

 

[koolio]

What a bunch of hypocrite liars, first they were saying oil recieved is discounted from Russia, now Russia has said oil sold to Pakistan is without special concessions.

In short Pakistan has gained nothing.

 

[Communism]

What a bunch of hypocrite liars, first they were saying oil recieved is discounted from Russia, now Russia has said oil sold to Pakistan is without special concessions.

In short Pakistan has gained nothing.

The only countries that got special discounts are China and India.


It's not realistic to expect the same level of discount for other countries.


Pakistan still got a discount to spot Brent and Arab oil indexes, and that's what matters.


I should note that India's special discount has eroded massively and will continue to erode, as Russia has no use for Indian Rupees, but RMB are as good as gold.

 

[farok84]

https://twitter.com/x/status/1673905991170260992

 

[PakFactor]

Thank you! I was hoping someone would lay it out. The small fine print details were laid out several weeks ago.

Pakistan to receive Russian imported oil from Oman in small ships: Musadik Malik (nation.com.pk)

Now, as to building capacity in the country and maintaining it, where will you get the money from? As I said before, there are more promises and undeliverable results, as history has shown.

I told you all this wouldn't last long. @PanzerKiel the economics just doesn't work. The issue isn’t just the pricing, we do not have capability to process Ural oil to make it beneficial, limited storage capacity, and most importantly money to buy.

Pakistan suspends import of Russian crude oil​

By
Ali Imran
Sunday, August 13, 2023

A view of the Russian oil cargo Pure Point, carrying crude oil, is seen anchored at the port in Karachi, Pakistan June 11, 2023.

• Russian oil yielded 20% more furnace oil than Arabian oil.
• Benefits of importing Russian crude oil "limited".
• May resume purchase from Russia if given "special discount".

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KARACHI: Pakistan has suspended its import of crude oil from Russia after the refining process yielded more furnace oil than petrol, The News reported Sunday, citing sources in the energy sector.
Moreover, the sources claimed that Pakistan Refinery had refused to process more Russian oil, as it yielded less petrol with 20% more furnace oil than Arabian crude oil.
They added that the benefits of importing Russian crude oil were limited, with a larger quantity of export of furnace oil at a lower price.
Some sources also claimed that Russian oil had yielded less kerosene and jet fuel for ships, which was not beneficial for the country.
Moreover, according to industry sources, Pakistan Refinery has given up refining Russian oil for now, despite the insistence of former state minister for petroleum Musadik Malik.
Two crude oil ships from Russia had arrived at the Karachi Port on June 11 and 26, after which no Russian oil ship came to Pakistan.
The issue of importing oil from Russia has gained great political and diplomatic importance over the past year.
Pakistan kept the exact price of Russian oil and its arrival secret. The first shipment reached Karachi Port on the evening of June 11, carrying about 45,000 tonnes. The second ship, with about 56,000 tonnes of crude oil, had anchored at the Karachi Port on June 26.
According to experts, if the prices of Brent crude oil and Arab Light Sea crude oil increase further and the cost of Russian oil does not increase, only then can the purchase of Russian oil be beneficial for Pakistan.
But chances for such a situation are limited, the experts believe. They said that another possibility for resuming the purchase of crude oil from Russia was that it [Russia] should create a special price discount for Pakistan.

 

[khansaheeb]

Urdu seems to be language lacking divergence.

in Hindi we simply call it- Thook ke chaatna!!!

That's an Urdu saying
Hindi is not even a language but a mongroid mix of languages.

 

[Bevvy Rosh]

That's an Urdu saying
Hindi is not even a language but a mongroid mix of languages.

You must be a pathan, cause your intelligenc level is definitely Taliban level

 

[khansaheeb]

You must be a pathan, cause your intelligenc level is definitely Taliban level

You are definitely a low caste Indian, now go and poop in the street.

 

[Bevvy Rosh]

You must be a pathan, cause your intelligenc level is definitely Taliban level

Hindi is based on Sanskrit which is the oldest language the Indo-European language group.

May be your Madarsa teacher couldn't teach you this in Tora Bora

You are definitely a low caste Indian, now go and poop in the street.

Afgans and Pakistanis are street-shitters. Which one are you?

 

[Redbeanpaste]

Urdu seems to be language lacking divergence.

in Hindi we simply call it- Thook ke chaatna!!!

Hindi and Urdu are actually the same language Hindustani. I forget what such languages are called but there is a name for it.

Urdu is Persianized Hindustani and Hindi is Sanskritized Hindustani.