Federal Budget

First ship of discounted Russian oil docks at Karachi port: PM Shehbaz

First ship of discounted Russian oil docks at Karachi port: PM Shehbaz

Pakistan

Ship carrying 45,142 metric tons oil arrives at Karachi port

KARACHI (Web Desk) - First Russian cargo ship successfully anchored at Karachi port, carrying a substantial load of 45,142 metric tons of crude oil.

Prime Minister Shehbaz Sharif on Sunday announced that the first cargo of discounted crude from Russia arrived in Pakistan, adding that the discharge of oil will commence tomorrow (June 12).

Taking to Twitter, the prime minister wrote, “I have fulfilled another of my promises to the nation. Glad to announce that the first Russian discounted crude oil cargo has arrived in Karachi and will begin oil discharge tomorrow.”
 

The premier said, “Today is a transformative day. We are moving one step at a time toward prosperity, economic growth, energy security, and affordability.”

He stated that the arrival of the first-ever Russian oil cargo in Pakistan was the beginning of a “new relationship between Pakistan and the Russian Federation”.
 

This development signifies well for Pakistan's energy needs and it marks an important milestone in the country's efforts to strengthen its trade and economic ties with Russia.

Earlier in May, Pakistan and Russia established a naval link with the arrival of a Pakistani ship laden with 26,000 tonnes of goods in St. Petersburg, which marked the beginning of regular trade and maritime activities between the two countries. This latest development is a testament to the growing trade and economic partnership between Pakistan and Russia. 

Minister of State for Petroleum Musadik Malik had confirmed that a first order was placed for Russian oil and would arrive within a month in Pakistan, which will then assess how much to import in the future.

“Based upon the results, we’ll move forward and see for what part of our portfolio we can use Russian energy,” he added.