Pak, Iran to hold talks on IPI

Islamabad, Jan 2 (PTI) Pakistan and Iran will hold
another round of talks here within a month on a proposed gas
pipeline project involving the two countries and India,
including on the sale of oil on deferred payment basis to
Islamabad.

"Talks will be held in the next three to four weeks in
Islamabad" on the Iran-Pakistan-India (IPI) gas pipeline
project, an official in the Petroleum and Natural Resources
Ministry told the state-run APP news agency today.

"The upcoming negotiations are aimed at evolving
consensus on the gas price fixation formula," he said.

An Iranian delegation led by the country's Oil Minister
will visit here to discuss matters related to the supply of
oil and gas to Pakistan. The Adviser to the Prime Minister on
Petroleum, Asim Hussain, will lead the Pakistani side in the
dialogue.

Iran has agreed to provide 50,000 barrels of crude oil a
day on deferred payments for 90 days.

Besides, Pakistan has requested Iran to extend the
facility of providing crude oil against deferred payments for
a two-year period. The Iranian President has said the
government will consider this request.

Pakistan has the facility to process 70,000 barrels of
Iranian crude oil a day. The Pakistan Refinery (PRL) currently
imports 10,000 barrels of crude oil a day from Iran, while
Tehran has already revised the contract to allow the export of
30,000 barrels per day with payments being deferred for 90
days.

This new arrangement is effective from January 1.
Pakistan's crude oil requirement is around 202,000 barrels a
day. PTI RHL
SAK