Picture of the ship at Karachi Port (Photo: Express)
Karachi: The first batch of crude oil imported from Russia reached Karachi port.
According to Express News, after the oil purchase agreement between the government and Russia, the first shipment of crude oil from Russia reached Karachi port today, the ship named “Pure Point” reached Karachi port.
According to the Karachi Port Trust, the ship is loaded with 45 thousand tons of crude oil, which was anchored at oil pier number two. Crude oil imported from Russia will help to meet the energy demand of Pakistan and also reduce the pressure on the foreign exchange due to import of crude oil.
The second shipment of 50,000 tons of crude oil from Russia will also reach Karachi in a week. Russian crude oil will be refined in Pakistan refinery on trial basis.
According to sources in the Ministry of Petroleum, crude oil is being purchased from Russia at an attractive discount with deferred payment facility, which will help Pakistan to get out of the energy crisis and also help stabilize foreign exchange reserves.
Pakistan’s two major refineries, Pakistan Refinery Limited, have expressed interest in meeting one-third to 50 percent of their capacity with Russian crude oil, while PARCO is importing one-third or 33 percent of Russian light crude oil from other regions. Showed interest in blending.
Pakistan’s private sector has also shown interest in meeting 80 percent of its requirement with Russian crude oil.
Meanwhile, in view of the impact of Cyclone Bapierjoy on Karachi Port, the arrival of the Russian vessel is a significant development, in view of the high alert situation and the expected storm effects. The vessel reached Karachi port at 2 o’clock on June 11 and was immediately anchored at Oil Pier No. 2.
Port sources say that the ship reached Karachi just two days before the arrival of the storm, which was anchored at the port under all emergency measures and the unloading process will be completed in the next 24 hours.
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