Cnergyico | Pakistan

Vitol and Cnergyico, Pakistan’s largest oil refiner, have delivered the country’s biggest single shipment of very low sulphur fuel oil (VLSFO) for ship refuelling, the global trading firm said in a statement late Monday. The move will enable large vessels refuelling in Pakistan to now sail longer routes from east to west without needing to stop elsewhere, while also giving the country a stronger local supply of environmentally compliant marine fuel. This shipment came from Cnergyico’s first large-scale batch of fuel that meets International Maritime Organisation (IMO) low-sulphur rules. The company began producing it after importing its first US crude oil cargoes earlier this year. Vitol delivered the VLSFO to a vessel owned and operated by shipping major MSC at Port Qasim, using a Singapore-flagged bunker barge Marine Ista that has the capacity to supply 6,800 metric tons of marine fuel in a single delivery. It was also the first barge to load fuel directly from the Karachi Port Trust’s Oil Pier rather than ...

Pakistan’s largest refiner Cnergyico will import 1 million barrels of oil from Vitol in October, its Vice Chairman Usama Qureshi told Reuters on Friday, marking the country’s first-ever purchase of US crude following a landmark trade deal. The West Texas Intermediate light crude cargo will be loaded from Houston this month and is expected to arrive in Karachi in the second half of October, Qureshi said. “This is a test spot cargo under our umbrella term agreement with Vitol. If it is commercially viable and available, we could import at least one cargo per month,” he said, adding that the shipment was not meant for resale. The deal follows months of multiple negotiations, which first began in April, he said, after US President Donald Trump threatened to impose 29pc tariffs on imports from Pakistan. On Thursday, Pakistan hailed a trade deal struck with the US, its top export market, and said the agreement would increase investments. The White House said on Thursday the US will charge a 19pc tariff on imports f...