The Minister of State for Petroleum, Musadik Malik, has stated that the importation of Russian oil into Pakistan will not result in a decrease in fuel prices, contrary to popular expectations. Minister Malik made this announcement in response to inquiries regarding the potential impact of Russian oil on fuel prices in the country.
While addressing the matter, Minister Malik clarified that the introduction of Russian oil would not lead to a reduction in fuel prices across Pakistan. However, he did mention that if there is a substantial increase in the volume of Russian oil cargo, it could potentially contribute to a decrease in prices.
It has been reported that the first shipment of Russian oil is expected to arrive in Pakistan within the next two weeks. Minister Malik emphasized the government’s commitment to sourcing affordable oil from around the world in order to meet the country’s energy needs.
Additionally, Minister Malik shared that efforts are underway to explore oil and gas reserves in the sea, with exploration activities having recently resumed. The government is also considering the reopening of closed gas wells to ensure an uninterrupted gas supply and prevent potential shortages across the country.
The minister acknowledged the significance of reopening these wells, as it would play a crucial role in maintaining a steady gas supply and addressing any potential challenges that may arise in the future.
