In the coming days, the first shipment of Russian oil will reach Pakistan through small boats, with 100,000 tons of crude oil set to anchor at Oman Port by the end of the month, according to a Pakistani minister.
Minister of State for Petroleum, Dr. Musadik Malik, stated on Wednesday that the initial shipment of 100,000 tons of crude oil from Russia would arrive at Oman Port, from where it would be gradually transported to Pakistani ports using smaller ships.
Speaking informally to the media, Dr. Musadik explained that the decision to anchor the oil shipment at Oman Port was due to logistical issues. To overcome this challenge, employing smaller ships for the onward journey was considered the most practical and efficient solution.
Dr. Musadik highlighted that the annual demand for petrol and diesel in Pakistan stood at 20 million tons, while local production only accounted for 10 to 11 million tons annually. However, he noted that the consumption of furnace oil had significantly decreased over time.
As a result, the minister stressed the urgent need for a deep conversion refinery with a capacity of three to four million barrels. Without such measures, projections indicate that by 2032, the demand for petrol and diesel alone could reach 33 to 34 million tons, resulting in a shortfall of approximately 22 million tons that would need to be imported.
Dr. Musadik stated that the government was ready to collaborate with international investors in establishing the necessary infrastructure because crude oil storage in the country was crucial for ensuring energy security.
He also mentioned that the government had introduced the greenfield refining policy in the petroleum sector, as Pakistan’s per capita energy consumption was the lowest in South Asia.