Musadik sees diversified energy future

Facing a deep economic crisis, Pakistan has started to buy Russian oil, but the country’s petroleum minister says the future lies in diversified, especially green, energy. Musadik Malik was visiting the United States for talks with corporations as well as with the government, which has led global efforts to choke off Russia’s oil exports that help fund its invasion of Ukraine. Mr Malik confirmed that a first order was placed for Russian oil and would arrive within a month in Pakistan, which will then assess how much to import in the future. “Based upon the results, we’ll move forward and see for what part of our portfolio we can use Russian energy,” he told AFP. Asked if Pakistan will pursue more Russian imports, he said, “If today we get cheaper sources of energy, we’ll go there.” Pakistan, the world’s fifth most populous country, faces chronic energy shortages and imports 84 per cent of its petroleum products, overwhelmingly from Gulf Arab allies Saudi Arabia and the United Arab Emirates. Mr Malik said Pakistan had been fully transparent and that its initial dealings with Moscow were far less than those of other countries — notably China and India, whose enthusiastic buying of Russian oil has cast a shadow over New Delhi’s warming relationship with Washington.