According to sources, Russia had offered export of 100,000 barrels of crude oil. In response, Russia offered to export blended crude oil so that refineries could process it, but it did not provide any fuel specifications. However, some officials pointed out that Russia had booked sweet and light crude oil for export to some other countries. Secondly, payments for Russian crude in dollar are a major stumbling block, which needs to be removed. Even Pakistan LNG Limited (PLL) floated a tender for LNG import over a six-year period, but no bidder turned up.

Source: The Express Tribune January 18, 2023 08:27 UTC