Pakistan mulling purchase of cheaper oil, gas from Iran: petroleum minister

LAHORE: Petroleum Minister Ali Pervaiz Malik on Sunday said that Pakistan was “considering” purchasing cheaper Iranian oil and gas. The option of sourcing Iranian crude oil supplies has again become available to Pakistan after a temporary easing of US sanctions on Tehran. By availing this opportunity, Pakistan could source discounted crude and refine it locally to produce higher-value petroleum products. Sourcing crude oil from Iran could generate import cost savings of $170-340 million ...

By [email protected] (Amjad Mahmood)