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ISLAMABAD, 1st December (PTI) Pakistani delegation held talks with Russian counterparts to demand 30-40% discount on crude oil, a request rejected by Moscow, which says it cannot offer anything at the moment as all volumes are committed , according to media reports on Thursday.
The delegation, comprising Petroleum State Minister Musadiq Malik, Petroleum Minister Mohammad Mahmood, the Joint Secretary and officials from Pakistan’s embassy in Moscow, demanded discounts for Wednesday’s talks in Moscow, The News reported.
The newspaper, citing its sources, said the talks did not lead to convincing conclusions, but the Russian side promised to consider Pakistan’s request and share its decision later through diplomatic channels.
The newspaper said Russia could supply crude at the right time and at the prices it offers to its large client countries, which are reliable and sound economies. All of the volume so far has been committed with big buyers, sources said.
The Russian side has demanded that Pakistan first honor its commitment to the flagship project of the much-touted Pakistan Gas Pipeline (PSGP) from Karachi to Lahore.
An official Pakistani delegation departed for Moscow on Nov. 29 for a three-day visit to meet with Russian authorities to explore the possibility of importing crude oil at a discount, payment methods and transportation costs.
Citing sources from the industry ministry, the newspaper said Russian crude could be processed at refineries in Pakistan, and a private refinery had used Russian crude to deliver finished products in the past.
The United States has made it clear that it has no objection to Pakistan’s import of Russian crude, saying Washington currently has no sanctions against Russia’s energy exports to other countries.
“We recognize the pressure on governments to ensure affordable fuel supplies,” the paper quoted a State Department official as saying.
“We have become very clear that when it comes to energy imports, each country has to make its own choices based on its own circumstances,” the official added.
However, the spokesman warned that Russia’s actions in Ukraine and Europe showed it was not a reliable energy supplier, adding that the United States continued to encourage measures to reduce long-term dependence on Russian energy supplies.
Ahead of the talks with Russia, Finance Minister Ishakhdar had said the delegation would hold talks with Russian oil authorities for a potential import deal.
In the past few months, Russia became India’s top oil supplier in October, surpassing traditional suppliers Saudi Arabia and Iraq.
China’s energy-hungry economy is one of the biggest customers of Russian oil and gas. Purchases by Chinese importers more than doubled from a year ago, to $10.2 billion in October, as Chinese importers took advantage of discounts offered by Moscow.
(This is an unedited and auto-generated story from a Syndicated News feed, the content body may not have been modified or edited by LatestLY staff)
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