Pakistan starts receiving oil on deferred payments from Saudi Arabia | GNN HD News GNN - Pakistan's Largest News Portal

Pakistan starts receiving oil on deferred payments from Saudi Arabia

Pakistan starts receiving oil on deferred payments from Saudi Arabia
Islamabad: Pakistan on Monday started receiving oil from Saudi Arabia on deferred payments, the Kingdom’s Embassy in Islamabad stated in a press release.

“Pakistan will start receiving monthly oil supplies worth $275 million from Saudi Arabia with effect of July 1, 2019,” the embassy said a notification. “These supplies will continue over the next three years, with a total value of $9.9 billion,” read the statement.

Pakistan and Saudi Arabia signed a financing agreement for the import of petroleum products, crude oil and LNG on February 17 during the Saudi crown prince’s Islamabad visit earlier this year.