Karachi, September 28, 2025 (Agencies): Pakistan has broadened its crude oil import portfolio with a second order of U.S. crude, signaling a shift from its heavy reliance on Middle Eastern supplies.
Cnergyico, the country’s largest oil refiner, has secured 1 million barrels of U.S. West Texas Light (WTL) crude for November delivery through global trading firm Vitol, Vice Chairman Usama Qureshi confirmed on Sunday. The deal, priced against Dubai benchmarks, follows Pakistan’s first-ever U.S. crude purchase in August, when a test shipment was booked for October arrival in Karachi. The inaugural cargo, carried by the Suezmax vessel Pegasus, is currently en route and expected to dock later this month.
Qureshi said the latest deal is part of a broader supply arrangement with Vitol, which provides access to a mix of U.S., Middle Eastern, Kazakh, and West African crude grades. He noted that refining margins for U.S. barrels had proven slightly stronger than Gulf grades, making the decision an economic one. If this trend continues, Cnergyico could secure up to 1 million barrels of U.S. crude each month.
Pakistan has traditionally depended on Middle Eastern imports, averaging 170,000 barrels per day of crude between January and August 2025, according to Vortexa data. However, shifting market dynamics—including softening premiums for Abu Dhabi’s Murban crude and competitive pricing for West African grades—are prompting refiners to explore diversification.
The move also comes after an August trade agreement between Washington and Islamabad, which facilitated U.S. energy exports to Pakistan in exchange for reduced tariffs on Pakistani goods. The deal aligns with President Donald Trump’s push to expand U.S. oil exports globally.
Analysts caution that while U.S. crude is currently cost-effective, potential increases in freight rates and firmer U.S. crude premiums could limit Pakistan’s imports in the future. Still, Cnergyico is well-positioned, operating the country’s only offshore terminal capable of receiving large crude carriers, and is pursuing capacity upgrades to meet rising demand.