Pakistan Refinery Limited (PRL) will likely submit a report about the viability of Russian crude imports to the government in two weeks’ time.
According to a report published in a national daily, the report will discuss the quality, yields, and commercial viability of oil imported from Russia. PRL is currently refining the imported Russian crude and will later submit a report to the Petroleum Division regarding refining cost and margins of the refinery have been worked out.
Once the report has been analyzed by the Petroleum Division and other relevant functionaries, only then the government will decide whether to opt for a government-to-government deal with Russia for the import of oil.
According to an official, half of the 100,000-tonne Russian crude would be exported as furnace oil at just 75 percent of the crude cost as URAL crude is heavier than the crude of Saudi Aramco and ADNOC, which Pakistani refineries use. The refining process of Russian crude will also result in 50 percent furnace oil.
Interestingly, it will likely take PRL almost two months to refine the imported Russian crude as the refinery first blends Russian URAL with crude from Saudi Aramco and then refines the blended crude.
Pakistan has for now received, 45,000 tonnes of Russian crude which is being refined by PRL. The second and final shipment of 55,000 tonnes is set to arrive at the end of the month.
