Pakistan Refiner Cnergyico Increases US Oil Imports Amid Hormuz Disruption.

Pakistan’s largest oil refiner, Cnergyico, is increasing its purchases of US crude oil as disruptions around the Strait of Hormuz expose the country’s dependence on Gulf-based oil supplies.

Cnergyico, which began importing US crude last year, imported around 8.1 million barrels worth approximately $750 million during the nine months of the last fiscal year. The purchases accounted for a significant portion of the increase in Pakistan’s import payments to the United States.

The refiner is now considering further expanding US crude purchases as Pakistan seeks to diversify its energy sources and reduce risks associated with disruptions along Gulf shipping routes.

Cnergyico Vice Chairman Usama Qureshi said the company was evaluating both long-term supply arrangements and spot purchases, with decisions depending on pricing and reliability.

The company could also benefit from access to a proposed US EXIM Bank trade-finance facility, which would allow deferred payments to US crude exporters and potentially support larger purchases.

The shift towards US crude comes as Islamabad encourages greater imports of American energy products as part of efforts to strengthen bilateral trade ties, reduce the trade deficit and potentially secure tariff concessions from Washington.

Cnergyico is also undertaking a $1.2 billion refinery upgrade, which includes plans for a second offshore mooring. The additional facility is expected to improve the refinery’s storage and export capabilities while allowing the company to handle larger vessels and potentially reduce freight costs.

The refiner is further planning to adopt Euro V fuel standards as part of its modernisation programme.

Pakistan’s increased interest in US crude highlights the broader impact of disruptions around the Strait of Hormuz, a key route for global energy shipments. For the country, diversifying crude sources could help reduce exposure to regional shipping risks and improve energy security.

The development also marks a significant shift in Pakistan’s crude procurement strategy, with US oil emerging as an increasingly important alternative to traditional Gulf supplies.