Pakistan Refiner Cnergyico Expands US Crude Imports Amid Hormuz Disruption
Cnergyico has imported 8.1 million barrels of US crude in nine months as Pakistan weighs financing support and longer-term supply deals.
9 Articles
9 Articles
Pakistan refiner Cnergyico expands US crude imports amid Hormuz disruption
Pakistan refiner Cnergyico expands US crude imports amid Hormuz
KARACHI: Pakistan’s largest refiner Cnergyico is buying more US crude as Islamabad seeks to diversify the country’s energy supplies after disruption caused by the Iran war exposed its dependence on Gulf routes. Pakistan also wants to increase imports from the US to help narrow its trade surplus and secure reductions in trade tariffs imposed by President Donald Trump.
With the supply of Middle Eastern crude oil cut off due to the blockade of the Strait of Hormuz resulting from the war between the U.S. and Iran, the proportion of U.S. crude oil in the total crude imported into Korea during the first half of this year exceeded 20% for the first time in history. According to the Korea Petroleum Association and the Korea National Oil Corporation on the 17th, Korea's crude oil imports in the first half of the year…
(Seoul = Yonhap News) Reporter Cho Seong-heum = It was found that the proportion of U.S. crude oil imports exceeded the 20% range for the first time in the first half of this year.
Pakistan’s Cnergyico Turns to US Crude Amid Gulf Supply Risks - Pakistan Observer
Pakistan’s largest oil refiner, Cnergyico, is increasing its purchases of United States crude to diversify energy supplies amid Gulf shipping routes disruptions. Cnergyico, which began importing US crude last year, is weighing additional spot purchases alongside longer-term agreements with Vitol and other suppliers. According to the media reports, Vice Chairman Usama Qureshi said the company would base its decisions on pricing, reliability and s…
[Digital Daily Reporter Choi Min-ji] Instability in the Middle East has altered the landscape of crude oil supply and demand for the domestic refining industry. In the first half of this year, the proportion of crude oil imports from the Middle East fell to the low 60% range, while imports from the United States surpassed 20% for the first time. According to the Korea Petroleum Association and the Korea National Oil Corporation on the 17th, dom…
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