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Is Pakistan in talks with Russia again to buy another oil cargo?

10:59 PM | 14 Aug, 2023
Is Pakistan in talks with Russia again to buy another oil cargo?
Source: Social media

KARACHI – Pakistan is engaged in negotiations with Russia to import another cargo of oil after successful processing of the first-ever oil cargo imported in June this year. 

An official of the Pakistan Refinery Limited (PRL) confirmed the development, saying negotiations are under way to purchase another spot cargo. 

In June this year, Pakistan imported 100,000 tons of Russian crude oil under a government to government (G2G) agreement as Islamabad was exploring import of energy at cheaper rates. 

The development comes days after reports suggested that Pakistan has suspended Russian crude oil purchases because the local refineries failed to extract as much petrol and diesel from the Russian crude as they extract from the Gulf crude.

Media reports quoting sources said that financial benefit to the Pakistan Refinery Limited from this import was somewhere between Rs0.50 and Rs1 per litre, which is too little to make any difference.

Import of Russian oil has not made any major difference so far as shipment did not lead to a drop in rates. In contrast, the outgoing government jacked up petrol and diesel rates by up to Rs20 per litre from August 1.

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Pakistani rupee maintains momentum against US dollar, Euro, Riyal; check forex rates here

Pakistani rupee continues to show resistance against US dollar in the open market on Monday amid positive economic indicators.

Dollar Rate in Pakistan Today

On first working day of the week, the US dollar in open market stands at 284 for buying and 287.15 for selling.

Euro price moves up to 310.71 for buying and 311.31 for selling. British Pound rate stands at 357.55 for buying, and 358.2 for selling after marginal increase.

UAE Dirham AED stands at 77.55 whereas the Saudi Riyal also witnessed slight fall and new price stands at 75.94.

Today's currency exchange rates in Pakistan - 27 November 2022

Currency Symbol Buying Selling
US Dollar ‎USD 284 287.15
Euro EUR 310.71 311.31
UK Pound Sterling GBP 357.55 358.2
U.A.E Dirham AED 77.55 77.7
Saudi Riyal SAR 75.94 76.09
Australian Dollar AUD 186.85 187.35
Bahrain Dinar BHD 751.53 759.53
Canadian Dollar CAD 208 208.5
China Yuan CNY 39.8 39.9
Danish Krone DKK 41.79 41.89
Hong Kong Dollar HKD 36.52 36.62
Indian Rupee INR 3.39 3.5
Japanese Yen JPY 1.89 1.92
Kuwaiti Dinar KWD 916.38 925.38
Malaysian Ringgit MYR 60.38 60.98
New Zealand Dollar NZD 170.9 172.9
Norwegians Krone NOK 26.25 26.55
Omani Riyal OMR 734.05 742.05
Qatari Riyal ‎QAR 77.63 78.33
Singapore Dollar SGD 212.2 212.7
Swedish Korona SEK 27.08 27.18
Swiss Franc CHF 322.39 322.89
Thai Bhat THB 8 8.04

Gold rates in Pakistan move up; Check today’s gold rates 27 November 2023

KARACHI – Gold rates in Pakistan continue to climb higher on Monday amid surge in global trend.

Gold Rates in Pakistan Today - 27 November 2023

On Monday, the price of 24-karat gold stands at Rs215,500 per tola, and 10 gram costs Rs184,750 per tola.

Single tola of 22 Karat Gold price stands at Rs198,550, 21 karat rate for per tola is Rs189, 525 and 18k gold rate stands at Rs162,450.00 for 1 tola.

In the international market, the price of bullion hovers around $2010 per ounce with incrrease of around $8.

Today Gold Rate in Pakistan

City Gold Silver
Lahore PKR 215,500 PKR 2,610
Karachi PKR 215,500 PKR 2,610
Islamabad PKR 215,500 PKR 2,610
Peshawar PKR 215,500 PKR 2,610
Quetta PKR 215,500 PKR 2,610
Sialkot PKR 215,500 PKR 2,610
Attock PKR 215,500 PKR 2,610
Gujranwala PKR 215,500 PKR 2,610
Jehlum PKR 215,500 PKR 2,610
Multan PKR 215,500 PKR 2,610
Bahawalpur PKR 215,500 PKR 2,610
Gujrat PKR 215,500 PKR 2,610
Nawabshah PKR 215,500 PKR 2,610
Chakwal PKR 215,500 PKR 2,610
Hyderabad PKR 215,500 PKR 2,610
Nowshehra PKR 215,500 PKR 2,610
Sargodha PKR 215,500 PKR 2,610
Faisalabad PKR 215,500 PKR 2,610
Mirpur PKR 215,500 PKR 2,610

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