Cnergyico, Pakistan’s largest oil refiner, recently made a landmark purchase of CPC Blend, marking the country’s first import of this specific oil grade. CPC Blend, a light crude from Kazakhstan and Russia, is exported via Russia’s Black Sea port and is primarily used for producing gasoline and petrochemicals. Its higher gasoline yield and lower fuel oil output compared to Russian Urals crude makes it particularly suitable for refining in Pakistan.
This move follows Cnergyico’s earlier purchase of Russian Urals oil in 2023, which was Pakistan’s first private-sector acquisition of Russian crude. Historically, Pakistan has relied heavily on crude from Saudi Arabia and the UAE, but Cnergyico has adopted a more flexible approach, diversifying its feedstock by incorporating oil from Russia and the UAE.
The significance of this import lies in its potential to enhance Pakistan’s refining efficiency and reduce dependence on traditional oil suppliers. By tapping into the CPC Blend, Cnergyico can produce more gasoline, which is crucial for meeting domestic demand in Pakistan’s growing energy market. Additionally, the use of the country’s only floating liquid port, the Single Point Mooring (SPM) buoy near Karachi, allows efficient offloading and transport of crude oil to Cnergyico’s refinery.
This diversification of oil sources and infrastructure use signals a strategic shift in Pakistan’s energy supply chain, aiming for greater flexibility, cost efficiency, and energy security.
