Minister heads to Russia for oil, gas talks

Published November 29, 2022
Minister of State for Petroleum Musadiq Malik speaks during a press conference in Islamabad. — APP/File
Minister of State for Petroleum Musadiq Malik speaks during a press conference in Islamabad. — APP/File

ISLAMABAD: Pakistan’s junior oil minister and the petroleum secretary have flown to Russia for talks on issues including oil and gas supplies, two people close to the matter told Reuters on condition of anonymity.

The trip comes as the South Asian nation struggles to meet domestic gas supply needs as winter approaches while battling to contain a current account deficit swelled by energy payments, mostly for oil.

Junior oil minister Musadik Malik did not immediately respond to a request for comment on Monday.

The sources provided no further details, such as the exact agenda, who the Pakistani officials would meet in Russia or when the talks will take place. Pakistan Finance Minister Ishaq Dar last month said that the country is considering buying discounted Russian oil, pointing out that neighbour India has been purchasing oil from Moscow and Islamabad also has a right to explore the possibility.

Pakistan has been unable to procure Liquified Natural Gas (LNG) from the international market because spot pri­ces remain out of its range and shipments under long-term deals remain insufficient to match rising demand.

Published in Dawn, November 29th, 2022

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Military option
Updated 21 Nov, 2024

Military option

While restoring peace is essential, addressing Balochistan’s socioeconomic deprivation is equally important.
HIV/AIDS disaster
21 Nov, 2024

HIV/AIDS disaster

A TORTUROUS sense of déjà vu is attached to the latest health fiasco at Multan’s Nishtar Hospital. The largest...
Dubious pardon
21 Nov, 2024

Dubious pardon

IT is disturbing how a crime as grave as custodial death has culminated in an out-of-court ‘settlement’. The...
Islamabad protest
Updated 20 Nov, 2024

Islamabad protest

As Nov 24 draws nearer, both the PTI and the Islamabad administration must remain wary and keep within the limits of reason and the law.
PIA uncertainty
20 Nov, 2024

PIA uncertainty

THE failed attempt to privatise the national flag carrier late last month has led to a fierce debate around the...
T20 disappointment
20 Nov, 2024

T20 disappointment

AFTER experiencing the historic high of the One-day International series triumph against Australia, Pakistan came...