Pakistan Refinery Limited (PRL) will import its first shipment of Nigerian Bonny Light crude oil in September. The 500,000-barrel cargo will arrive in Karachi by late September. This move reflects a shift as Asian refiners look for cheaper alternatives to Middle Eastern oil. The exact price of the shipment is not yet known. Both PRL and Vitol have not commented on the deal publicly.
This purchase follows Pakistan’s first deal to import U.S. crude oil, supplied by Vitol, through Cnergyico. That shipment is scheduled to arrive in October. Until recently, Pakistan mainly imported crude oil from Saudi Arabia and the United Arab Emirates. However, rising costs in the Middle East have pushed Pakistan to explore other sources. These include U.S. West Texas Intermediate and Kazakh CPC Blend.
In 2014, Pakistan imported Nigerian Yoho crude oil, but this is the first known purchase of Nigerian Bonny Light. Bonny Light is popular because it produces high yields of gasoline and diesel. Its light and sweet qualities make it valuable to refiners. The move shows Pakistan’s efforts to diversify its crude oil sources and reduce costs.
Oil remains Pakistan’s largest import, costing $11.3 billion in the fiscal year ending June 2025. This amount makes up nearly one-fifth of the country’s total imports. The growing demand for oil pushes Pakistan to find more cost-effective supply options. Refiners aim to balance quality and price amid global oil market changes.
The trend among Asian refiners to seek alternatives signals a changing oil landscape. Pakistan’s strategy may set a precedent for other countries in the region. By importing Bonny Light and U.S. crude, Pakistan hopes to strengthen its energy security. This diversification can help stabilize the country’s import costs in the future.