Pakistani’s largest refiner Cnergyico will import 1 million barrels of oil in October since Vitol, his vice -chairman Usama Qureshi told Reuters on Friday on Friday, describing the first purchase of the American raw agreement.
Western Texas Intermediate Light will be loaded from Houston this month and is expected to arrive in Karachi in the second half of October, Qureshi said.
“It is the cost of the test spot within our umbrella term agreement with Vitol. If it is commercially viable and available, we could import at least one cost per month,” he said, adding that the shipment is not intended for further sale.
The agreement follows the months of more negotiations that began for the first time in April, when US President Donald Trump threatened to save 29% of duties on imports from Pakistan.
Qureshi said that the Ministry of Finance and Oil Pakistan encouraged local refineries to explore American raw imports after the tariff.
Vitolution did not answer immediately to a comment sent outside office hours.
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On Thursday, Pakistan welcomed a business agreement with the US, his best export market. Pakistan stated that the agreement will lead to lower tariffs and increased investments without setting the level of duties to be selected for Pakistan’s consignments.
Pakistan warms up to Trump after he threatened the tariffs. He scored an American diplomatic intervention for the end of recent hostility with neighboring India and nominated Trump for the Nobel Peace Prize.
Oil is the largest import item in Pakistan and its shipments were awarded at $ 11.3 billion in June 30, 2025, which represents almost one fifth of the total import law in the country.
The import agreement will help Pakistan diversify its raw resources and reduce relying to suppliers in the Middle East, which represent almost all its oil imports.
“The gross refining margin is at the same level as the degree of Persian Gulf and no mixing or refinery is required,” Qureshi said.
Cnergyico can process 156,000 barrels of oil a day and run a single one -point anchor terminal in near Karachi, allowing him to manage large tankers unlike other refiners in Pakistan.
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The company plans to install a second offshore terminal that allows larger or more frequent shipments, and to upgrade its refinery in the next five to six years, Qureshi said.
The refiner, which works with an average refinery rate, 30-35% due to lukewarm local demand, is a bet on growing demand for oil products.
“We expect running rates to increase because domestic demand is strengthening and local production is preferred to imported fuels,” Qureshi said.
Trump said on Wednesday that the US also cooperates with Pakistan to develop “massive oil reserves” of the South Asian country without providing further details.
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