Pakistan and Russia are engaged in discussions over a possible oil-sector agreement, Finance Minister Muhammad Aurangzeb said in remarks published by RIA news agency on Tuesday.
Speaking in an interview, Aurangzeb highlighted Russia’s expertise in energy-related fields, including exploration, production and refining, expressing Pakistan’s interest in cooperation across these areas. “All of these areas are Russia’s strengths, and we would be very happy if Russia agreed on an agreement in this sector with Pakistan,” he said. He added that the matter is currently under consideration by the energy ministries of both countries.
The talks build on earlier discussions, as Russian Energy Minister Sergei Tsivilev said in November that Russia had also explored the possibility of upgrading a refinery in Pakistan with the involvement of Russian companies.
Pakistan has intensified engagement with Russia in recent years, as Moscow seeks alternative energy markets following Western sanctions over the Ukraine conflict, while Islamabad aims to reduce its energy import costs. Pakistan began importing Russian crude oil in 2023. Aurangzeb also noted that both sides are examining the possibility of establishing another steel plant in Pakistan, according to RIA.
