2nd Shipment of Russian Crude Oil Arrives at Karachi Port
KARACHI: Another cargo of 55,000 tonnes of Russian crude oil, offered at a discounted rate, has reached the Karachi port on Tuesday, marking the second shipment under the agreement between Islamabad and Moscow.
Arrival of the Russian Crude Oil Cargo
As the ship’s berthing plan is being finalized, the vessel, named ‘Clyde Noble,’ is anticipated to dock at the oil pier. According to prior reports from sources, the vessel, carrying Urals oil, was en route to the port of Karachi in the Arabian Sea.
Delayed Arrival and Reason
Originally scheduled to arrive on June 20, the second cargo encountered a one-week delay due to limited storage capacity in the Pakistan Refinery Limited (PRL) tanks. PRL, the first domestic refinery to receive crude oil from Russia through the government-led deal, experienced a shortage of space, causing the delay.
Pakistan’s First Cargo and the Deal
Pakistan received its initial shipment of Russian crude oil on June 12, when a tanker carrying 45,000 tonnes of crude oil successfully docked at the Karachi port. The government’s order for 100,000 tonnes of Russian crude oil, placed in April, marked the beginning of this significant agreement after extensive negotiations between the two countries.
Transportation Challenges
The first oil tanker, carrying 100,000 metric tonnes of crude oil, arrived at an Omani port before being transported to Pakistan. Due to the limitations of the Pakistani port, smaller ships were chosen to transport the oil, as heavy vessels carrying more than 50,000 tonnes could not be accommodated.
Journey Delays
The loaded vessel, initially departing from a Russian port on April 21, faced a 10-day delay due to technical issues. Subsequently, it reached Egypt’s Suez Canal on May 17, where it had to wait for 12 days in a lengthy queue to cross the canal.
Impact on Pakistan’s Oil Industry
Pakistan, heavily reliant on oil imports, imports 70% of its crude oil. Major refineries such as PRL, National Refinery Limited, Pak Arab Refinery Limited, and Byco Petroleum refine the imported oil, while the remaining 30% is locally produced and refined by Attock Refinery Limited. PRL is currently blending the Russian crude oil with Arabian crude to produce essential petroleum products, fulfilling the demand in the market.
Key Details
- Discounted shipment of 55,000 tonnes of Russian crude oil arrives at Karachi port, marking the second cargo under the deal between Islamabad and Moscow.
- Pakistan Refinery Limited (PRL) faced a delay in receiving the shipment due to limited storage space, but is now blending the Russian crude oil with Arabian crude to produce essential petroleum products.
- Pakistan imports 70% of its crude oil, and the arrival of Russian crude oil is expected to have a significant impact on the country’s oil industry, which is primarily reliant on major refineries like PRL.
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