Balochistan coast: Pakistan receives first-ever US crude oil shipment

KARACHI: Pakistan on Wednesday received its first-ever shipment of US crude with the cargo arriving at Cnergyico’s offshore terminal, marking a new chapter in Pak-US trade relations. The cargo arrived aboard the Suezmax vessel MT Pegasus and docked at Cnergyico’s Single Point Mooring (SPM) port situated on the coast of Balochistan.

In August, it was reported that Cnergyico will import 1 million barrels of oil from Vitol this month.

“The arrival of Pakistan’s first-ever US crude oil cargo marks an important milestone for the country’s energy sector and for Cnergyico,” Vice Chairman of Cnergyico Pk Limited Usama Qureshi told Dawn.com. “This first shipment will be followed by another in mid-November and a third in January 2026,” he stated, adding that collectively, “these three cargoes are expected to improve Pakistan’s trade balance with the United States by around USD200 million”.

Cnergyico seals import deal: Pakistan to get first US oil shipment

Qureshi said the SPM facility, the country’s only offshore crude handling terminal, can efficiently receive large vessels, reduce logistics costs, and enhance refinery operations.

“These imports not only diversify Pakistan’s crude supply but also strengthen bilateral trade ties and contribute to the country’s long-term energy security,” the vice chairman added.

In September, Cnergyico had ordered a second shipment of US crude after finding its debut purchase commercially viable, according to its vice chairman, paving the way for more imports.

In 2023, Cnergyico had imported the country’s first private-sector shipment of Russian crude oil, taking advantage of Moscow’s discounts on its oil exports. Follow Dawn Business on X, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Copyright Business Recorder, 2025