Alam is that Pakistani companies are exporting abroad by incurring losses on this furnace oil. In such a situation, Russian oil can become a cause of trouble for Pakistan. It is being told that Russia has given this oil to Pakistan at 16 to 18 dollars cheaper. Pakistan has imported this oil from Russia for the first time. 45 thousand tonnes of crude oil has just arrived from Russia. Pakistan has made this payment for this oil in Chinese currency Yuan. Pakistan hopes that paying in yuan will give it relief to maintain foreign exchange reserves but experts say it is not beneficial.
How Russian oil can become a headache for Pakistan
Pakistan had to buy yuan only by selling dollars. Pakistan’s Petroleum Minister claims that the oil prices in Pakistan will come down due to continuous arrival of Russian oil. Although experts are rejecting this claim. They say that less furnace oil is produced in the oil coming from the Gulf countries, Saudi Arabia and UAE, but it is more in Russian oil. 50 percent furnace oil will be produced from Russian oil. Pakistan does not need this furnace oil and now it has become a big challenge to sell this oil. Pakistan is already selling this oil at a loss.
Pakistan’s oil experts say that even though the arrival of Russian oil is being celebrated, but it does not see any reduction in the prices of oil, especially petrol and diesel, in the near future. In such a situation, this Russian oil is not going to be very beneficial for Pakistan commercially. That too when Pakistan has spent a lot of money on renting it. In contrast, Saudi oil produces 50 per cent high speed diesel and only 25 per cent furnace oil, he said.