Russia and Pakistan are reportedly exploring potential cooperation in offshore oil and gas exploration and refining, following intergovernmental meetings held this week in Moscow.
The discussions also covered the potential for Russia to supply Pakistan with crude oil and grains, news agency Interfax reported, citing Russia’s Deputy Energy Minister Roman Marshavin.
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“A protocol of the working group has been agreed upon, and all agreements are reflected in it. Stable supplies of Russian oil to Pakistan are ongoing, and all technical and financial issues are being promptly resolved by the sides. Work is under way to increase these supplies and diversify the range of products,” he said.
“Yesterday, we received a rather interesting proposal from Pakistan regarding oil and gas exploration on the shelf, enhancing oil recovery at mature fields and in oil refining. Russian companies are ready to study these proposals. We will continue the discussion with our partners,” the new agency quoted Marshavin as saying.
These talks are part of a broader effort to strengthen energy ties between the two nations.
Since 2022, Russia has begun regular oil supplies to Pakistan after the EU imposed an embargo on Russian energy products, prompting Moscow to seek new markets for its fuel.
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By GlobalDataMarshavin said: “There are stable deliveries of Russian oil to Pakistan… Work is under way to increase such deliveries and diversify commodity groups.”
Pakistan’s Petroleum Minister Musadik Malik confirmed that the country has resumed negotiations with Russia over crude oil supply.
However, he dismissed reports suggesting Pakistan was finalising a deal to import one cargo of Russian crude oil per month, starting in January.
This month Russia lifted its gasoline export ban for producers but extended restrictions for independent traders and resellers until January 2025.
The ban remains for most non-producer exporters, with exceptions for countries in the Eurasian Economic Union and those with inter-governmental agreements, like Mongolia.
