(MENAFN) Once arch-competitors Russia and Pakistan are presently scrambling to ride out the latter's surging oil and gas requests, a move greeted with warnings by local analysts.
Pakistan's State Minister for Petroleum Mussadiq Malik informed a press meeting on Thursday in the capital Islamabad that Russia had accepted to supply oil to Pakistan at lower rates to reach Islamabad's surging local and manufacturing energy requirements.
From March forwards, he also stated that Pakistan would acquire oil from Moscow at a lower price as “all the formalities” with regard to the tow sided deal would be completed by then.
Pakistan, as said by him, would buy crude oil, petrol, as well as diesel from Russia.
Islamabad is going to also sign long-term deals with Moscow for the obtaining of gas, he sustained.
The two parties reached the understanding following a sequence of two sided trips in latest months, with the most recent tour of Islamabad by a top Russian delegation ruled by Energy Minister Nikolay Shulginov in the prior week.
MENAFN30012023000045014228ID1105493624
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.