CNERGYICO, the largest oil refinery in Pakistan, will import 1 million barrels of crude oil from Vitol-the very first American oil purchase in the country in October.
The largest refinery Cergyico from Pakistan will import 1 million oil from Vitol in October, said Vice-chairman Usama Qureshi from Cergyico, on Friday, the very first purchase of the country of the American crude oil after a historical trade agreement.
The West Texas Intermediate Light Crude Cargo will be loaded from Houston this month and is expected to arrive in Karachi in the second half of October, he said.
“This is a test spot freight under our umbrella agreement with Vitol. If it is commercially viable and available, we could import at least one freight per month,” Qureshi told Reuters, adding that Vitol was the long -term trading partner.
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The deal follows months of negotiations that started for the first time in April, he said, after the US President Donald Trump threatened to impose 29% rates at the import from Pakistan.
Qureshi said that the financial and petroleum ministeries of Pakistan have encouraged local refineries to explore American rough import after the announcement of April in April.
Vitol did not immediately respond to a request for comment sent outside office hours.
American crude oil helps Pakistan to diversify beyond Gulf
On Thursday, Pakistan greeted a trade agreement with the United States, the best export market, and said that the agreement would increase the investments. The White House said on Thursday that the US would charge a rate of 19% on the input from Pakistan.
An important ally of China, Pakistan, has approached Trump after threatening the rates. It has credited the American diplomatic intervention for the termination of recent hostilities with neighboring India and nominated Trump for the Nobel Prize in Peace.
Oil is the largest import item in Pakistan and the shipments were appreciated at $ 11.3 billion a year ending on June 30, 2025, good for almost one fifth of the total import account of the country.
The import deal will help Pakistan to diversify its raw sourcing and reduce the dependence on suppliers of the East, which are good for almost all its oil imports.
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“The gross refinement margin is on the same footing with golf figures, and no blending or refinery -tweaks are required,” said Qureshi.
Cnergyico could consider buying at least 1 million barrels of American oil a month after evaluating the first shipment, given the current monthly requirement of 4.6 million barrels, he said.
“It corresponds well to the domestic market requirements. The question usually strengthens in the period from October – November,” said Qureshi.
CNERGYICO can process 156,000 barrels of crude oil a day and operates the only unit meer terminal in the country near Karachi, so that it can process in Pakistan in contrast to other refineries.
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The company plans to install a second offshore terminal to make larger or more frequent shipments possible and to upgrade the refinery in the next five to six years, Qureshi said.
The refinery, which works with an average refiner Ice rate of 30% to 35% as a result of lukewarm local demand, gambles on growing in demand for oil products.
Trump said on Wednesday that the US would also collaborate with Pakistan to develop the “massive oil reserves” of the South Asian country, without providing further details.
Published on August 1, 2025
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