In a bid to cut costs and broaden its oil supply sources, Pakistan Refinery Limited (PRL) will, for the first time, import Nigerian Bonny Light crude this September from global energy trader Vitol.
The 500,000-barrel cargo of light-sweet crude is scheduled to load later this month and arrive in Karachi by late September, according to industry insiders familiar with the deal. While pricing details remain under wraps, the move signals a shift in strategy for Pakistan’s refining sector.
Traditionally reliant on Saudi Arabia and the United Arab Emirates for nearly all its crude, Pakistan is now joining other Asian refiners in seeking more affordable alternatives. Recent supply tightness and rising prices from the Middle East have pushed the country to explore imports from U.S. West Texas Intermediate, Kazakh CPC Blend, and now Nigeria’s Bonny Light — renowned for its high gasoline and diesel yields.
This milestone marks Pakistan’s first Bonny Light purchase and its first Nigerian crude since 2014, when Yoho grade was imported. It follows closely on the heels of Cnergyico’s deal to bring in U.S. crude, also supplied by Vitol, set to arrive in October.
With oil accounting for nearly 20% of Pakistan’s import bill — $11.3 billion in crude and petroleum products in the fiscal year ending June 30, 2025 — diversifying suppliers could play a critical role in easing cost pressures on the economy.
