Russian crude oil import not suspended, successfully processed: PRL
Business
The company says negotiations for another spot deal are in progress
KARACHI (Web Desk) - The Pakistan Refinery Limited (PRL) has contradicted a news report that Russian crude oil import was put on suspension owing to processing issues.
The company, on the other hand, announced that the negotiations for another spot deal are in progress.
In a clarification note, PRL chief executive Zahid Mir said the Russian crude was successfully processed and the spot deal was technically and commercially feasible.
Last week, a section of media reported that because of refining issues at the refinery, the import of Russian crude oil had been suspended.
Mir said the company would process the Russian crude oil again when available at favourable commercial terms, asserting that negotiations for another spot deal were in progress.
Two crude oil ships from Russia had arrived at the Karachi Port on June 11 and 26.
