Pakistan’s first shipment of U.S. crude oil, chartered by Cnergyico, docked at the company’s Single Point Mooring (SPM) facility in Hub, Balochistan today (Wednesday).
In a statement, Cnergyico said this marked an historic day for Pakistan’s energy sector, as MT Pegasus docks at the SPM with 1 million barrels of U.S. WTI crude oil. It said MT Pegasus was loaded with U.S. crude in Houston on Sept. 14.
The crude shipment follows a trade deal between Islamabad and Washington, under which Pakistan’s exports to the U.S. face tariffs of 19%, among the lowest in the region. Cnergyico noted that the import boosts bilateral trade in line with the trade deal inked between the two countries earlier this year.
According to Cnergyico, a second cargo of 1 million barrels of crude oil from the U.S. is expected to reach Pakistan by mid-November, while a third cargo is planned for 2026 as part of a long-term strategy.