KARACHI: Pakistan Refinery Limited (PRL) rejected the reports on suspension of Russian crude oil import, saying that the there was no issue of processing the product while negotiations for another spot deal are in progress.
“The Russian crude oil was successfully processed and the spot deal was technically and commercially feasible,” Zahid Mir, chief executive of PRL, said in a written clarification.
Reports surfaced last week that due to refining issues at the refinery, the import of Russian crude oil had been suspended.
Mir said the PRL would process the Russian crude oil again when available at favorable 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, after which no Russian oil ship came to Pakistan.
The issue of importing oil from Russia has gained great political and diplomatic importance over the past year.
Pakistan kept the exact price of Russian oil and its arrival secret and the payment was made in Chinese yuan.
The first shipment reached Karachi Port on the evening of June 11, carrying about 45,000 tonnes. The second ship, with about 56,000 tonnes of crude oil, had anchored at the Karachi Port on June 26.
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