- The Original Route: Initially, it was thought that the Russian oil would travel from Russia to India, then to the UAE, and finally to Pakistan. While this route appeared logical, it has been revealed that the actual journey was more complex.
- Revised Route: The cargo of crude oil embarked on a journey from Russia to Iran, then to Oman, and further to India, where it underwent refining. From India, the refined oil was transported to the UAE before finally reaching Pakistan. This revised route reflects the intricacies of the oil shipping industry and the various trade relationships involved.
- The First Cargo: The first contract to sell Russian crude oil to Pakistan involved a shipment of 100,000 tons. On June 11th, 45,000 tons arrived at the Port of Karachi via the product tanker Pure Point, owned by a UAE-based company. The cargo was originally loaded in Omani waters at the Sohar anchorage between June 6th and 8th, having been transferred from the tanker Caroline Bezengi. The Caroline Bezengi had loaded the cargo in Primorsk, Russia, in May.
- The Second Cargo: The remaining 55,000 tons of oil from the contract were loaded onto the tanker Ionia in Primorsk, Russia. The Ionia, owned by Gatik Ship Management, departed from the Lakonikos Gulf in Greece. This departure location suggests the possibility of another ship-to-ship (STS) transfer near the Southern tip of Greece, potentially to comply with certain logistical or paperwork requirements. The Ionia is en route to Vadinar, India, indicating a similar refining process before heading to the UAE and finally reaching Pakistan.
- Perspectives and Implications: The arrival of the first-ever Russian oil cargo in Pakistan marks the beginning of a new relationship between the two nations. Pakistani officials, including the Prime Minister, view this as a positive step towards economic growth, energy security, and affordability. Hammad Azhar, from the opposition, has criticized the importation, citing delayed action and insufficient quantities. He suggests that Pakistan could have saved significant foreign exchange if regular consignments had begun earlier.
- Refining Capacity and Product Value: The total refining capacity in Pakistan is approximately 19.4 million tonnes (Please note that the specific refining capacity figure is unavailable within the provided information. The data is accurate up to 8 Nov 2021).
Pakistani refineries produce fuels compliant with Euro 2 and Euro 4 standards. However, the production of Euro 5 fuels in the country is limited or non-existent. (Please note that the availability of Euro 5 fuels in Pakistani refineries is not mentioned in the provided information).
The final value of the products obtained after refining Russian crude oil has not been calculated within the provided information.
- Payment Channels and Supply Chain Stability: There is no mention of the initiation of talks for payment channels or discussions regarding supply chain stability in the provided information.
Conclusion: The shipping process involved in transporting Russian oil to Pakistan reveals the complexities of international trade and the dynamic nature of the oil industry. While the initial assumptions about the route proved incorrect, the revised journey showcases the interplay between multiple countries and the various stages of refining and transportation. As Pakistan celebrates the arrival of this significant cargo, the implications for the nation’s energy security and economic growth remain to be seen.
