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Pakistan Readies for First Russian Urals Cargo

OIL

Pakistan is set to receive 750,000 bbls of Russian Urals in early June – its first ever commercial scale purchase of Russian oil that could pave the way for more consistent volumes in the future.

  • Pakistan signed an agreement to purchase 750,000 barrels of Urals crude for delivery into an Omani port in May and Islamabad arranged for it to be brought to Karachi's Qasim port in small batches in the first half of June.
  • The price of the Urals has not been disclosed by Pakistani Petroleum Minister Musadik Malik.
  • Islamabad's plan to import more cargoes from Russia would hinge on rigorous assessments of the crude's yield of different distillation cuts and refining economics according to Platts sources.
  • Pakistani plants cannot process heavier and more sour grades like Urals with maximum middle distillate production yield efficiency they added.

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