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Pakistan to Raise LPG Imports from Iran and Consider Crude Purchases

Pakistani Minister of Petroleum Ali Pervaiz Malik said the country will increase liquefied petroleum gas imports from Iran and is evaluating cheaper crude oil supplies. The steps follow a U.S. sanctions waiver on Iranian petroleum sales that runs until August 21.

Jun 29, 11:30 AM(15 days ago)·1m read1 source

Pakistan to Raise LPG Imports from Iran and Consider Crude Purchases

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Pakistan will increase its imports of liquefied petroleum gas from Iran and is considering purchases of cheaper crude oil from the Islamic Republic, Pakistani Minister of Petroleum Ali Pervaiz Malik said. OilPrice.com reported the statements on June 29. The United States has waived sanctions on Iranian petroleum sales until August 21.

-Iran negotiations and negotiated directly with Iran for safe passage of LNG carriers from Qatar during the recent Middle East crisis. Malik described the relationship with Iran as one of brotherhood and close neighborliness. He added that discounted crude purchases could generate savings of between $170 million and $340 million on Pakistan’s oil import bill if up to 20 percent of petroleum purchases are made below international benchmarks.

Pakistan’s state LNG importer is urgently seeking an emergency cargo for delivery this week as traffic through the Strait of Hormuz remains volatile.

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