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Pakistan, Russia discussing long-term oil supply agreement

Pakistani Petroleum Minister Ali Pervaiz said it is important to assess everything, solve logistical and technological issues

ST. PETERSBURG, June 20. /TASS/. Pakistan and Russia are discussing the possibility of concluding a long-term agreement on oil supplies, Pakistani Petroleum Minister Ali Pervaiz told TASS, adding that there are logistical and technological issues.

"Negotiations are definitely underway. However, we need to assess everything and solve logistical and technological issues," he said on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

Firstly, the characteristics of Russian Urals oil differ from those of the Persian Gulf oil grades, which are mainly used by refineries in Pakistan, the minister said. "We need to determine the ratio of oil blend grades for switching to Russian oil," he noted.

Secondly, it takes more time to supply oil from Russia, the official added. "There are difficulties with time of delivery as oil from Russia flows from the whole continent, with supplies taking more time," he said.

The St. Petersburg International Economic Forum (SPIEF) is taking place on June 18-21. This year, the event is held under the theme "Shared Values: The Foundation of Growth in a Multipolar World." The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, the Drug Security Forum, and the Roscongress Urban Hub discussion platform. The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its information partner.

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