[
Cnergyico receives 1 million barrels of WTI at its offshore terminal under new trade arrangement
OCAC urged the Special Investment Facilitation Council to intervene and recommend the withdrawal of petroleum and climate support levies on furnace oil, which would help restore policy consistency and support critical sectors. PHOTO: FILE
ISLAMABAD:
The first US crude oil cargo on Wednesday landed in the country, marking a milestone in the diversification of crude imports and the opening of a new era of bilateral relations between the two countries in the oil sector.
Cnergyico PK imported one million barrels of West Texas Intermediate (WTI) crude, the first such shipment in the nation’s history. The company plans to import a total of three cargoes from the United States, one already arrived, while two more are scheduled.
The import follows the government’s trade deal with Washington, under which Cnergyico brought the US oil vessel MT Pegasus to its port in Balochistan. Pakistan has previously relied mainly on oil supplies from the Middle East.
Cnergyico said it was a historic day for the energy sector as the first-ever US crude oil cargo vessel MT Pegasus docked at its Single Point Mooring (SPM) terminal. The Suezmax-class vessel, carrying one million barrels of WTI crude, is the largest oil ship ever to berth in the country.
The Pegasus was loaded in Houston on September 14 and arrived at Cnergyico’s offshore terminal this week. The company said the completion of this landmark import would boost bilateral trade following the recent trade agreement between Islamabad and Washington.
Cnergyico said it previously set a record in FY-2017 by bringing in the largest crude oil vessel at the time to its offshore terminal. The latest shipment breaks that record.
The company confirmed that the second US crude cargo of one million barrels is expected by mid-November, while a third shipment is planned for early 2026 as part of its long-term import strategy.
Speaking to The Express Tribune, Vice Chairman Usama Qureshi said the arrival of the first-ever US crude oil cargo marked a historic milestone for both the company and the national energy sector. “This first shipment will be followed by another in mid-November and a third in January 2026. Together, these three cargoes are expected to improve Pakistan’s trade balance with the United States by around $200 million,” he said.
“By utilising our Single Point Mooring facility — the country’s only offshore crude handling terminal — Cnergyico can efficiently receive large vessels, reduce logistics costs and enhance refinery operations. These imports diversify Pakistan’s crude supply and contribute to long-term energy security,” he added.
Cnergyico operates the nation’s only Single Buoy Mooring (SBM) facility capable of handling fully laden Suezmax and Aframax vessels, giving it a clear advantage over other local ports.
Unlike Karachi Port and Port Qasim, both limited by shallow drafts and able to accommodate only partially laden Aframax tankers of up to 600,000 barrels, Cnergyico’s offshore SBM can receive up to 1.2 million barrels in a single shipment. This allows the company to handle twice the crude volume per vessel, ensuring faster turnaround and greater cost efficiency.
The SBM enables large vessels such as Suezmax tankers, of up to 200,000 deadweight tons, to discharge crude oil directly through subsea pipelines connected to Cnergyico’s refinery. This eliminates the need for lightering operations, reduces freight costs, minimises port congestion and enhances operational flexibility.
Company officials said that with the capacity to accommodate the largest crude carriers entering the country, Cnergyico’s SPM stands as the most efficient and strategically significant crude import facility in Pakistan. It plays a vital role in supporting national energy security and optimising freight logistics.
The refinery said that by bringing in the MT Pegasus, it had again set a new benchmark in crude handling, building on its record of 2017.
