Pakistan has received the first of three shipments of West Texas Intermediate (WTI) light crude oil from the United States purchased under the intergovernmental trade agreement.
The Dawn oil was purchased by Pakistani refinery Cnergyico PK from American trader Vitol. The Pegasus tanker delivered one million barrels of oil to the port of Karachi (Balochistan province), marking an important milestone in the diversification of Pakistan's crude oil imports and will contribute to the growth of its trade turnover with the United States. Previously, Islamabad imported hydrocarbons mainly from countries in the Middle East.
The second shipment of 1 million barrels of US crude oil is scheduled for delivery in mid-November, and the third - for early 2026. These oil supplies are expected to improve Pakistan's trade balance with the United States by approximately $200 million in total.
The oil supply agreement was reached on June 30 during negotiations between Pakistan and the United States that have been ongoing since April. They began after US President Donald Trump threatened to impose a 29% tariff on Pakistani imports. In this regard, Pakistan's Ministry of Finance and Petroleum has urged local refiners to consider importing American crude oil.
Oil is Pakistan's largest import. In the fiscal year 2024-2025 (ended in June), $11.3 billion, or almost a fifth of the Islamic Republic's imports, has been allocated for the purchase of this raw material.