$430m US crude deal struck

Pakistan has found an alternative oil supply route as a $430 million US crude deal by the private sector has helped reduce reliance on the Hormuz route and narrow the trade gap. In a notable private sector development with broader economic implications, Cnergyico Pk has executed a commercial transaction for the import of six million barrels of US West Texas Intermediate (WTI) crude valuing at around $430 million. The deal, one of the largest private sector crude oil import arrangements between Pakistan and the US, reflects a gradual shift towards diversified energy sourcing at a time of heightened geopolitical and balance-of-payments pressures. The transaction expands energy trade between Pakistan and the US while contributing to a reduction in trade deficit through market-based private investment. Importantly, the deal has been concluded without sovereign guarantees or government financing, limiting exposure for the public exchequer and aligning with broader efforts to reduce reliance on state-backed external funding.