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 Crew members check the deck of the Russian oil cargo Pure Point, carrying crude oil, anchored at a port in Karachi, Pakistan June 13, 2023. — Reuters
Almost three months after Islamabad and Washington inked the trade agreement, Pakistan\“s energy industry received its first-ever supply of US crude oil on Wednesday, totalling one million barrels.
The ship left Houston, Texas, on September 14 and arrived at Cnergyico\“s Single Point Mooring （SPM） facility in Hub, Balochistan after completing its transoceanic journey. Advertisement
Carrying one million barrels of West Texas Intermediate （WTI） crude, MT Pegasus is the largest oil tanker ever to dock at a Pakistani port.
Cnergyico completed this historic import under the new Pakistan-US trade agreement aimed at strengthening bilateral economic cooperation.
Following the successful delivery, Cnergyico announced that a second US crude oil cargo is expected to arrive in mid-November, with a third shipment planned for 2026.
The arrival of MT Pegasus not only marks a new chapter in Pakistan-US trade relations but also sets a record in Pakistan’s maritime and energy history as the largest crude oil vessel ever received by a Pakistani port.
It is to be noted here that Pakistan and the US finalised the trade agreement on July 31, 2025, to deepen economic ties between Islamabad and Washington.
The development was shared by US President Donald Trump himself on his Truth Social account.
“We have just concluded a Deal with the Country of Pakistan, whereby Pakistan and the United States will work together on developing their massive Oil Reserves,“ Trump wrote on July 31 this year.
“We are in the process of choosing the Oil Company that will lead this Partnership.“
According to the Ministry of Finance, the purpose of the deal is to boost bilateral trade, improve market access, attract investment, and strengthen cooperation in areas of mutual interest.
“Under the agreement, there will be a reduction in tariffs, particularly on Pakistani exports to the US, and a fresh start in economic cooperation between the two countries,” the Ministry of Finance official statement had read.
“The two sides will focus on energy, minerals, information technology, cryptocurrency, and other key areas, the statement added. |
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发表于 2025-11-7 06:49:30