Business
Pakistan suspends Russian crude oil imports: sources
The sources claimed that Pakistan had bought over 100,000 tons of crude oil from Russia.
Islamabad: Pakistan has suspended its import of crude oil from Russia after the refining process yielded more furnace oil than petrol.
In addition, the sources indicated that Pakistan Refinery had turned down more Russian oil because it produced 20% more furnace oil and less gasoline than Arabian crude oil.
According to sources in the energy sector, it is stated that the quantity of jet fuel and diesel extracted from Russian oil was relatively low, resulting in less beneficial outcomes for the country.
The sources claimed that Pakistan had bought over 100,000 tons of crude oil from Russia, however Pakistan Refinery has denied these assertions.
A higher export of furnace oil at a lower price offset the benefits of importing Russian crude oil, they continued.
As per reports, Russian oil produced less kerosene and jet fuel for ships, which was bad for the country as a whole.
Russian crude oil was successfully imported, according to sources in the energy sector, and it will be processed once again when it becomes available under "favorable trade terms."
Earlier, on June 11 and 26, two Russian crude oil ships arrived at the Karachi Port; thereafter, no more Russian crude oil ships visited Pakistan.