According to Dr. Musadik Malik, Minister of State for Petroleum, Oman will receive its first cargo of 100,000 tonnes of crude oil on May 27. Smaller ships will be used to transport it from there to Pakistan.
Due to Pakistani ports' restricted ability to handle ships carrying more than 50,000 tonnes of cargo, it was decided to anchor the ship in an Omani port.
Dr. Musadik Malik emphasised that Pakistan has the lowest energy consumption per capita in South Asia and that the nation needs 20 million tonnes of fuel annually.
He raised concern over the forecasted 34.33 million tonnes of petroleum demand by 2032. The minister emphasised the necessity to build a refinery with a capacity of 300,000 to 400,000 barrels in order to meet this rising demand.
Dr. Musadik Malik also emphasised the significance of domestic crude oil storage for the nation's energy industry.
It is noteworthy that, in accordance with a new agreement between Islamabad and Moscow, which was finalised on April 20, Pakistan just placed its first order for discounted Russian crude oil.
According to Dr. Musadik Malik, Pakistan's Refinery Limited (PRL) would initially refine the Russian crude oil; following a test run, other refineries will be added to the process.
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