Copyright thedailycpec
Pakistan has received its first-ever shipment of crude oil from the United States, marking a major milestone in bilateral economic cooperation under the recently signed Pakistan-US trade agreement. The oil tanker MT Pegasus arrived at Cnergyico’s Single Point Mooring (SPM) facility in Hub, Balochistan, on Wednesday, carrying one million barrels of West Texas Intermediate (WTI) crude. The vessel departed from Houston, Texas, on September 14, completing its transoceanic voyage before making history as the largest oil tanker ever to dock at a Pakistani port. Cnergyico, Pakistan’s largest vertically integrated oil company, completed the import under the framework of the new trade deal signed between Islamabad and Washington on July 31, 2025. The agreement aims to expand economic collaboration, enhance market access, and attract investment in key sectors such as energy, minerals, information technology, and digital finance. According to the Ministry of Finance, the agreement provides for tariff reductions on Pakistani exports to the United States and sets the foundation for deeper economic engagement between the two nations. It also outlines cooperation in developing Pakistan’s vast natural and mineral resources, particularly its untapped oil reserves. Announcing the deal earlier, U.S. President Donald Trump wrote 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. We are in the process of choosing the oil company that will lead this partnership.” Following the arrival of MT Pegasus, Cnergyico confirmed that a second U.S. crude oil shipment is expected to reach Pakistan in mid-November, while a third consignment is being planned for 2026. Industry observers see this import as a strategic step toward diversifying Pakistan’s crude oil sources and strengthening its energy security. The move also reflects growing U.S. engagement in Pakistan’s economic development, with both sides emphasising mutual growth through trade rather than aid. The arrival of MT Pegasus represents more than just a commercial transaction. It marks the beginning of a new chapter in Pakistan-U.S. relations, with the potential to reshape Pakistan’s energy landscape and broaden its international partnerships.
