Pakistan Refinery Plans First Nigerian Bonny Light Oil Import

Pakistan Refinery Limited (PRL) is set to import its first shipment of Nigerian Bonny Light crude oil from Vitol in September, marking a strategic shift in Pakistan's crude oil sourcing away from its traditional Middle Eastern suppliers like Saudi Arabia and the UAE. This 500,000-barrel cargo of light-sweet crude is expected to arrive in Karachi by late September and offers a cheaper alternative amid rising Middle Eastern crude prices. The move follows Pakistan's first deal to import U.S. crude, also supplied by Vitol, scheduled to arrive in October, reflecting a broader trend among Asian refiners to diversify crude sources by including U.S. West Texas Intermediate and Kazakh CPC Blend. Bonny Light crude is valued for its high gasoline and diesel yields, making it attractive for Pakistan’s refining needs. Oil remains Pakistan's largest import, with crude and petroleum products totaling $11.3 billion in the fiscal year ending June 30, 2025, accounting for nearly a fifth of the country’s total import bill. This diversification effort underscores Pakistan's response to the increasing costs of Middle Eastern oil and its intent to secure more cost-effective energy supplies.