Pakistan turns to US Oil as Hormuz Crisis exposes Gulf supply risks
Pakistan’s Cnergyico is increasing purchases of US crude as disruptions in the Gulf and Hormuz highlight supply-route risk. The company is evaluating more US spot and long-term shipments with suppliers including Vitol. Karachi refinery imported about 8.1 million barrels of US crude this year. Pakistan’s payments for US oil rose $914 million to $3.27 billion in FY, with Cnergyico accounting for about 80%. Cnergyico is also planning a $1.2 billion upgrade to reach ~200,000 bpd.
