Pakistan’s largest oil refiner, Cnergyico, is set to make a significant move in October by importing one million barrels of crude oil from the United States.
This marks the first-ever purchase of American oil by Pakistan, following a landmark trade agreement. The shipment will be provided by global energy trader Vitol and will consist of West Texas Intermediate (WTI) light crude.
Cnergyico Vice Chairman Usama Qureshi confirmed that the oil will be loaded from Houston in October and is expected to arrive in Karachi in the second half of the month.
He stated that this initial cargo would serve as a test shipment under the company’s umbrella agreement with Vitol. If successful, Cnergyico could import at least one cargo per month from the US in the future.
The agreement comes after months of negotiations that began in April 2025, following a trade dispute between Pakistan and the United States.
The US had threatened to impose a 29% tariff on Pakistani goods, prompting Pakistan’s finance and petroleum ministries to encourage local refiners to explore US-origin crude.
This deal highlights a shift in Pakistan’s oil sourcing strategy, particularly since oil is the country’s largest import, with shipments valued at $11.3 billion in the fiscal year ending June 30, 2025. Oil imports account for nearly 20% of Pakistan’s total import bill.
Cnergyico’s Qureshi also mentioned that the refining margin for US crude is on par with Gulf grades, making it a viable option for Pakistan’s refineries.
The company currently processes 156,000 barrels of crude per day and operates the country’s only single-point mooring terminal near Karachi, which can handle large tankers.
In the coming years, Cnergyico plans to install a second offshore terminal and upgrade its refinery to meet the growing demand for oil.
Pakistan’s new trade deal with the US is seen as a positive development, promising to boost investment and improve the country’s access to energy resources. However, Vitol has yet to respond to the latest updates regarding this shipment.
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