Pakistan is set to receive its first shipment of oil from the United States after Cnergyico, the country's largest refiner, secured a landmark import deal with Vitol. The initial cargo of West Texas Intermediate light crude will be loaded in Houston and is expected to arrive in Karachi in October. This move marks a significant step in diversifying Pakistan's crude oil sources, reducing its heavy reliance on Middle Eastern suppliers. Cnergyico has indicated that regular imports from the United States could follow if the arrangement proves commercially viable, and the company is planning refinery upgrades to accommodate anticipated growth in demand. The deal comes amid evolving trade relations between Pakistan and the United States, with both countries expressing optimism about increased investment and cooperation in the energy sector.

Original article source: https://www.dailymail.co.uk/wires/reuters/article-14960813/Pakistan-US-oil-shipment-Cnergyico-seals-import-deal.html
Source Id: 8795198039