Pakistan's largest oil refiner, Cnergyico, is set to import 1 million barrels of crude oil from Vitol in October, marking the country's first-ever purchase of U.S. crude oil. This transaction follows a landmark trade deal aimed at enhancing trade and geopolitical relations between Pakistan and the United States. Usama Qureshi, Vice Chairman of Cnergyico, confirmed the deal, which represents a significant development in Pakistan's energy procurement strategy. The import deal was facilitated under a new energy pact brokered during Donald Trump's administration. Additionally, there have been reports of fuel imports from Saudi Arabia arriving in California for the first time since 2022, following refinery outages and supply disruptions in India, which created a rare arbitrage opportunity in the global fuel market.
Pakistan's largest refiner Cnergyico will import 1 million barrels of oil from Vitol in October, Cnergyico's Vice Chairman Usama Qureshi said on Friday, the country's first-ever purchase of U.S. crude following a landmark trade deal. https://t.co/oPHyaOTicL
پاکستان کی تاریخ میں پہلی بار امریکا سے خام تیل کی خریداری #ARYNews https://t.co/wASaYrQWsL
Fuel importers in California have received gasoline from Saudi Arabia's Jubail Industrial Port after maintenance at the world's largest refinery in India helped to open the rare arbitrage opportunity, data from oil analytics firm Kpler showed https://t.co/b94CIAU4cD