Pakistan and Iran would hold another round of dialogue with regard to proposed Iran-Pakistan-India (IPI) gas pipeline project and provision of oil on deferred payment to Pakistan, official sources in Ministry of Petroleum said here. "Talks will be held in next three to four weeks in Islamabad," an official in the Ministry of Petroleum and Natural Resources told APP here on Friday.
Iranian delegation led by its Oil Minister would visit Pakistan to discuss matters pertaining to supply of oil and gas to Pakistan, while Adviser to the Prime Minister on Petroleum Dr Asim Hussain would lead Pakistani side in the dialogue. "The upcoming negotiations are aimed at evolving consensus on gas price fixation formula," he added.
Iran has agreed to provide 50,000 barrels crude oil per day on deferred payment for 90 days. Besides, Pakistan has requested Iran to extend the crude oil facility on deferred payment for a period two-year, for which Iranian President has already given assurance to consider the request.
Pakistan has the facility to process 70,000 barrels Iranian crude oil per day. Pakistan Refinery (PRL) is currently importing 10,000 barrels crude oil per day from Iran, while Iran has already revised the contract to allow export of 30,000 barrels per day on 90 days deferred payment, effective from January 1, 2009. Pakistan's crude oil requirement is around 202,000 barrels per day.