Islamabad (Commerce Desk): A major development has emerged in Pakistan’s energy sector as Cnergyico Pakistan Limited has signed a $430 million commercial agreement to import 6 million barrels of West Texas Intermediate (WTI) crude oil from the United States. This deal is being described as the largest-ever private-sector crude oil import agreement between Pakistan and the US.
Under the agreement, 3 million barrels of crude oil have already been processed at Cnergyico’s refinery, while the remaining three cargoes—each consisting of one million barrels—are scheduled to arrive in Pakistan during February and March 2026. This initiative is expected to ensure a steady and reliable supply of crude oil in the coming months.
Notably, the deal was finalized without any government guarantees or financial support, meaning it places no additional burden on the national exchequer. Experts believe the agreement will also help reduce Pakistan’s trade deficit through private-sector-led imports.
Energy analysts say that importing crude oil from the United States is a significant step toward diversifying Pakistan’s energy sources. The move is expected to reduce reliance on the Middle East, particularly the Strait of Hormuz, which is considered a sensitive global oil transit route due to ongoing geopolitical tensions.
Cnergyico’s Single Buoy Mooring (SBM) facility has played a key role in enabling this diversification. It is Pakistan’s only deep-sea crude oil handling system, allowing direct unloading from Very Large Crude Carriers (VLCCs) through an underwater pipeline connected to the refinery.
This infrastructure makes it possible to import oil from distant regions such as the United States and Africa, significantly reducing port congestion, freight costs, and delays.
Cnergyico Vice Chairman Osama Qureshi stated that the private sector can play a vital role in stabilizing the national economy. According to him, crude oil imports from the US will not only help lower the trade deficit but also protect Pakistan’s economy from external shocks by diversifying energy supply sources.
