Iran offers 80,000 bpd oil on deferred payment

Islamabad—In a welcoming development Iran has offered to supply 80,000 barrels of crude oil per day (BPD) to Pakistan on deferred payment along with credit line of $ 250 million for laying the portion of pipeline of IP gas project in Pakistan ’s territory.

Dr Asim Hussain told this to the media persons here on Tuesday. He said, Pakistan had asked for $ 500 million credit for materializing the IP project on time, but Iran facing economic sanctions by US has committed to give $ 250 million loan to complete the mega project.

The IP gas line project is scheduled to be operational by December 31, 2014.

The Special Assistant said that his ministry had sought opinion from central bank of Pakistan over the lucrative offer of Iran to provide 80,000 barrels of crude oil on three month deferred payment as the government wants foreign exchange forward cover by State Bank of Pakistan against the import of oil from Iran.

Meanwhile Iraq has also offered Pakistan crude oil supply on deferred payment and to this effect he may go to Iraq by mid of March to negotiate the import of oil.

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Posted on February 29, 2012, in Iran, Pakistan and tagged , , . Bookmark the permalink. Leave a comment.

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