KARACHI: Pakistan is set to import crude oil from the United States for the first time in its history.
Synergico, one of Pakistan’s leading refineries, will import one million barrels of crude oil from the US-based energy trading company Vitol this October.
According to British media, Synergico Vice Chairman Usama Qureshi said the shipment of West Texas Intermediate (WTI) light crude would be loaded from Houston this month and is expected to arrive at Karachi port by mid-October.
“This is a test spot cargo under our comprehensive agreement with Vitol,” said Qureshi. “If this turns out to be commercially viable and readily available, we could bring in at least one cargo every month. This shipment is not meant for resale,” he clarified.
The deal was struck after months of back-and-forth negotiations that kicked off in April, following US President Donald Trump’s warning to impose 29 per cent tariffs on Pakistani imports. The threat rang alarm bells in Islamabad and prompted the action.
In response, Pakistan’s Finance Ministry and Ministry of Petroleum directed local refineries to explore the option of importing oil from the US. While Vitol has not yet commented on the development, the move is being seen as a big step forward in Pakistan-US trade relations.
Though a close ally of China, Pakistan has been warming up to Washington in recent months. Islamabad credited the US diplomatic efforts in easing recent Pakistan-India tensions and even nominated President Trump for the Nobel Peace Prize.
Pakistan welcomed the trade deal with the US, which remains the country’s largest export market. Officials believe this agreement will pave the way for greater investment and deeper economic ties.
Oil is Pakistan’s single biggest import. During the financial year ending June 30, 2025, the country imported oil worth $11.3 billion, accounting for roughly one-fifth of its total import bill.
