Pakistan ‘considers' buying cheap oil and gas from Iran
Make us preferred on Google A senior commander view shows a military team of South Pars Gas field in Asalouyeh Seaport, north of Persian Gulf, Iran
An illustrative image related to: Pakistan ‘considers' buying cheap oil and gas from Iran, highlighting key aspects of the story. | Image source: Geo News (Pakistan)
Pakistan ‘considers' buying cheap oil and gas from Iran
Make us preferred on Google A senior commander view shows a military team of South Pars Gas field in Asalouyeh Seaport, north of Persian Gulf, Iran November 19, 2015. — Reuters RLNG connections to be restored soon, announces secretary. Govt passed on more assistance support than global price reduction: Malik Cameras installed at textile mills to address FBR concerns. Federal Secretary for Petroleum Ali Pervez Malik stated on Sunday that Pakistan was considering purchasing cheap oil and gas from Iran following the end of the Iran-US conflict and the end of restrictions on Tehran.
Speaking to the press in Lahore, the secretary stated that petroleum product prices had touched Rs460 per litre in April at the height of the Iran-US dispute, but global prices had since come down significantly.
Washington and Tehran signed the "Islamabad Memorandum of Understanding" in Switzerland’s Burgenstock on June 17, largely mediated by Pakistan.
Under the pact, the United States undertook to immediately issue economic penalties waivers through the Treasury Division for the export of Iranian crude oil, petroleum products and derivatives, along with all related services, including banking transactions, insurance and transportation, until economic penalties are terminated.
Malik stated Premier Shehbaz Sharif had immediately passed on the benefit to the general, adding that the assistance support provided to consumers was even greater than the reduction seen in global markets. "We gave the individuals more benefits than what the global market offered," he stated.
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