{"id":17188,"date":"2023-06-17T16:59:12","date_gmt":"2023-06-17T11:59:12","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=17188"},"modified":"2023-06-17T16:59:12","modified_gmt":"2023-06-17T11:59:12","slug":"pakistan-given-no-special-discount-on-oil-russian-minister","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/pakistan-given-no-special-discount-on-oil-russian-minister\/","title":{"rendered":"Pakistan given no special discount on oil: Russian minister"},"content":{"rendered":"<p>Russian Energy Minister Nikolai Shulginov has said his country is not giving Pakistan oil at a special discount.<\/p>\n<p>&#8220;Oil deliveries to Pakistan have begun. There is no special discount; for Pakistan, it is the same as for other buyers,&#8221;\u00a0<i>Voice of America (VoA)\u00a0<\/i>reported citing Russian state media.<\/p>\n<p>Speaking to reporters on the sidelines of an international economic conference in St Petersburg, the Russian minister confirmed on Friday that the country had started exporting oil to Pakistan.<\/p>\n<p>He also said they had agreed to accept Chinese currency as payment. However, he denied claims that Pakistan had received exclusive discounts on the deal.<\/p>\n<p>&#8220;We agreed that the payment would be made in the currencies of friendly countries,&#8221; Shulginov said.<\/p>\n<p>Furthermore, he confirmed that while the issue of barter supplies had been discussed, no decision had been made yet.<\/p>\n<p>Pakistan passed a special order earlier this month to allow barter trade with Afghanistan, Iran, and Russia for certain items \u2014 including petroleum, LNG, coal, minerals, metals, wheat, pulses, and other food items.<\/p>\n<p>Regarding this trade, the Russian minister said that the two countries had yet to reach an understanding on the prices for the export of liquefied natural gas to Pakistan.<\/p>\n<p>He noted: &#8220;The discussion is about long-term contracts, but so far, we are talking about spot supplies, and spot gas prices are now high.&#8221;<\/p>\n<p>Prime Minister Shehbaz Sharif had earlier touted the import of Russian oil as an achievement.<\/p>\n<p>On Sunday, PM Shehbaz took to Twitter to announce that the first &#8220;Russian discounted crude oil cargo&#8221; had arrived and had been offloaded at a port in Karachi.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I have fulfilled another of my promises to the nation. Glad to announce that the first Russian discounted crude oil cargo has arrived in Karachi and will begin oil discharge tomorrow. <\/p>\n<p>Today is a transformative day. We are moving one step at a time toward prosperity, economic\u2026<\/p>\n<p>&mdash; Shehbaz Sharif (@CMShehbaz) <a href=\"https:\/\/twitter.com\/CMShehbaz\/status\/1667915539241398272?ref_src=twsrc%5Etfw\">June 11, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>He further wrote: &#8220;Today is a transformative day. We are moving one step at a time toward prosperity, economic growth and energy security &amp; affordability. This is the first ever Russian oil cargo to Pakistan and the beginning of a new relationship between Pakistan and Russian Federation.&#8221;<\/p>\n<p>Petroleum Minister Musadik Malik later revealed that the payments for the oil had been made in yuan.<\/p>\n<p>Malik recently told the media that Pakistan had purchased 100,000 metric tonnes of Russian crude oil, and the payment was made in Chinese yuan.<\/p>\n<p>He further added that in the upcoming weeks, there would be a reduction in local oil prices.<\/p>\n<p>However, he did not disclose the commercial details of the deal, including pricing or the discount that Pakistan received.<\/p>\n<p>Pakistan imports 70% of its crude oil, which the PRL, National Refinery Limited, Pak Arab Refinery Limited, and Byco Petroleum refine.<\/p>\n<p>The remaining 30% is locally produced and refined by the local refineries, including Attock Refinery Limited.<\/p>\n<p>The move to import oil from Russia comes as Pakistan is looking to diversify its sources of oil imports amid rising global prices.<\/p>\n<p>Russia is a major producer of crude oil and has offered the country discounted oil prices. The payment for the Russian crude will be made in Yuan through the Bank of China.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Russian Energy Minister Nikolai Shulginov has said his country is not giving Pakistan oil at a special discount. &#8220;Oil deliveries to Pakistan have begun. There is no special discount; for Pakistan, it is the same as for other buyers,&#8221;\u00a0Voice of America (VoA)\u00a0reported citing Russian state media. Speaking to reporters on the sidelines of an international [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":8794,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,2],"tags":[7470,389,5747,6296,138,367],"class_list":["post-17188","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-pakistan","tag-russian-oil","tag-afghanistan","tag-lng","tag-musadik-malik","tag-pakistan","tag-shehbaz-sharif"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/17188","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=17188"}],"version-history":[{"count":0,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/17188\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/8794"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=17188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=17188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=17188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}