Karachi: The import of crude oil from Russia has been suspended after more furnace oil was produced than petrol during the refining process, according to sources in the energy sector, media reported on Sunday.
The issue had gained political and diplomatic importance as Pakistan has always kept the exact price of Russian oil and its arrival secret, it reported.
According to industry sources, the Pakistan Refinery has given up refining all the Russian oil for now despite the insistence of former state minister Musadik Malik.
Advertisements
As per media, Sources claimed that the Pakistan Refinery had refused to process more Russian oil, as less petrol was being produced from it with 20 percent more furnace oil compared to the Arabian crude oil.
It is evident as only two crude oil ships from Russia had arrived at the Karachi Port on June 11 and 26, after which no Russian oil ship had come to Pakistan.
According to experts, if the prices of Brent crude oil and Arab Light Sea crude oil increase further and the price of Russian oil does not increase, only in such cases the purchase of Russian oil could be beneficial for Pakistan. But chances for such a situation are limited, the experts believe, media reported.
Advertisements
Next Story:
-
BRS Celebrates 23rd Foundation Day Across Telangana
BRS celebrated its 23rd Foundation Day across the State, today, the party, founded as Telangana Rashtra Samithi by K.Chandrashekhar Rao and others who were strong sympathisers for the separate Telangana state in the year 2001, was renamed as BRS by transforming into a national party in 2022.
-
Youth Booked For Women Harassment In Kacheguda
A youth was booked for allegedly harassing a woman on a popular social networking platform on the pretext of love in Kacheguda on Saturday.
-
CM Revanth Meets CPM Leaders
Ahead of the Lok Sabha elections, Chief Minister Revanth Reddy sought the support of the CPM State unit for the Congress party in Bhongir and other parliamentary constituencies in the state.
-
Sameer Waliullah Calls on People to Vote Thoughtfully in Lok Sabha Elections 2024
Hyderabad DCC President Mohammed Sameer Waliullah called on the people of Hyderabad to vote thoughtfully in the upcoming general elections.
-
ISRO Employee Held For Job Fraud at Kacheguda
An ISRO employee was arrested on charges of cheating a job aspirant to the tune of Rs. 20 lakhs promising a job in the organization at Kacheguda on Friday.
Now you can get the latest stories from Hydnow every day. Click the link to subscribe. Click to follow Hydnow’s Facebook page and Twitter and Instagram