PRL Denies Reports of Agreement for Import of Crude Oil from Russia

Pakistan Refinery Limited (PSX: PRL) Wednesday clarified that no agreements or commitments have been made by PRL to import crude oil from Russia.  In a notice to the Pakistan Stock Exchange (PSX), PRL addressed recent news reports suggesting that it has agreed to import Russian crude oil at discounted rates.  “We remain committed to transparency and will keep our stakeholders informed of any developments directly through our official channels,” it added.  Separately, Petroleum Minister Musadik Malik also clarified on Wednesday that no agreement has been signed regarding the purchase of crude oil from Russia.  Talking to the media, the minister said that recent discussions surrounding the procurement of crude oil from Russia did not result in a formal agreement.