Pakistan Turns to Russia and Venezuela as Middle East Oil Supplies Shrink

Pakistan’s government is looking to buy crude oil from Russia, Venezuela, and Nigeria to replace lost supply from the Middle East, Pakistan Today reports, adding that the government is also seeking LNG cargoes. Pakistan has suffered a substantial hit from the energy price surge following the start of the war between the United States and Israel, and Iran, seeing record-high fuel import price premiums and a gas crunch that has led to blackouts. To address the problem, the government in Islamabad is turning to alternative suppliers of both…