Pakistan's Strategic Shift: Importing Nigerian Bonny Light Crude

Pakistan Refinery Limited will import its first cargo of Nigerian Bonny Light crude from Vitol in September, as Pakistan looks to diversify sources away from Middle Eastern oil due to rising costs. This marks a strategic shift in Pakistan's crude import strategy, with significant focus on cost-effective alternatives.

In a strategic move to diversify its crude oil sources, Pakistan Refinery Limited is set to import its first cargo of Nigerian Bonny Light crude from Vitol in September, according to sources familiar with the matter. The shift comes as Asian refiners seek more cost-effective alternatives to Middle Eastern oil.

The 500,000-barrel light-sweet crude cargo is anticipated to be loaded this month and arrive in Karachi by late September, though pricing details remain undisclosed. Neither Vitol nor PRL has commented on the deal.

This purchase follows Pakistan's recent decision to import U.S. crude from Vitol, scheduled for arrival in October, and highlights the nation's pivot from its traditional Middle Eastern crude suppliers, primarily Saudi Arabia and the UAE, to diverse sources such as U.S. West Texas Intermediate and Kazakh CPC Blend.

(With inputs from agencies.)