Pakistan Receives Initial Consignment of Russian Oil, Projecting Significant Decline in Petroleum Prices

Today marks the beginning of the oil transmission process from Russia to Pakistan, and it is expected to bring about a significant reduction in petroleum product prices, estimated to range between 30 to 40 rupees. The Ministry of Petroleum has stated that the introduction of Russian oil will contribute to a decrease in petrol prices across Pakistan. The market can anticipate the arrival of Russian oil within the next two weeks, with the initial shipment of 45,000 tons to be refined by Pakistan Refinery Limited (PRL). Parco will also play a role in the refining process of the Russian oil.

Sources indicate that the positive effects of the relief provided by Russian oil are likely to be visible by July 1st, with the possibility of a decrease in petroleum product prices by 30 to 40 rupees. Energy Minister Malik has confirmed the arrival of the first vessel from Russia, which is expected to take approximately three days to unload.

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