Russia refuses to discount Pakistan crude oil

ISLAMABAD, Pakistan - Russia refused to give Pakistan a 30-40 percent discount on Russian crude oil, claiming all volumes were already committed, according to the press on Thursday.

During talks in Moscow, the Pakistan delegation, which included State Minister for Petroleum Musadik Malik, a joint secretary, and officials from the Pakistan Embassy in Moscow, requested a discount.

The talks ended without a clear conclusion, but the Russian side promised to take a look at Pakistan's request and share its views later via diplomatic channels.

Russia can offer crude at the rates it currently offers to its large client countries, which have reliable and sound economies, at a suitable time, according to sources. They stated that all volumes are now committed to large buyers.

The Russian side requested that Pakistan first honor its commitment to the Pakistan Stream Gas Pipeline, which will run from Karachi to Lahore, Punjab.

Russian crude oil can be processed in Pakistani refineries, and a private refinery has used Russian crude oil to deliver finished products, according to sources in the industrial ministry.