Pakistan, Russia in Talks on Oil Sector Cooperation Agreement
Islamabad: Pakistan and Russia are holding discussions on a potential cooperation agreement in the oil sector, signaling deepening energy ties between the two countries. Federal Finance Minister Muhammad Aurangzeb, speaking to a Russian news agency, said that the energy ministries of both nations are engaged in negotiations over a possible agreement. He noted that Russia…
Islamabad: Pakistan and Russia are holding discussions on a potential cooperation agreement in the oil sector, signaling deepening energy ties between the two countries.
Federal Finance Minister Muhammad Aurangzeb, speaking to a Russian news agency, said that the energy ministries of both nations are engaged in negotiations over a possible agreement. He noted that Russia possesses significant expertise in oil exploration, production, and refining, adding that Pakistan would welcome cooperation in these areas.
Aurangzeb also said that Pakistan and Russia are considering the establishment of another steel plant in Pakistan as part of broader industrial cooperation.
According to international media reports, Pakistan began importing Russian crude oil in 2023 as part of efforts to diversify its energy sources.
Earlier, Russian Energy Minister Sergei Tsivilev said in November that Russian companies were in talks with Pakistan regarding the upgrading of a refinery in the country, foreign media reported.
