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Pakistan Receives First Discounted Russian Crude Cargo

OIL

Pakistan has received its first discounted crude cargo from Russia according to Pakistan Prime Minister Shehbaz Sharif on Sunday.

  • "Glad to announce that the first Russian discounted crude oil cargo has arrived in Karachi and will begin oil discharge tomorrow," Sharif said on twitter.
  • "This is the first ever Russian oil cargo to Pakistan and the beginning of a new relationship between Pakistan and Russian Federation," he added.
  • The cargo is expected to start the beginning of a new longer-term trade as Pakistan seeks cheaper energy supplies after struggling to compete on global markets over the last year and has faced a payment crisis.
  • It is not clear what payment method is being used to facilitate the trade.
Energy BulletsCommodities
Energy BulletsCommodities

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