Bunkering Services Led by Vitol
Led by Vitol, the launch marine bunkering services at Karachi Port Trust (KPT) expanding fast. Pakistan’s maritime sector with the world’s largest independent energy trader has reached to a milestone. This introduces international-standard bunker barges compliant with global maritime assurance requirements and establishes a transparent, structured bunker licensing regime. Across Karachi Port, Port Qasim, and outer anchorage areas, the Vitol is set to supply 500,000 to 600,000 metric tons of marine fuel annually. The service portfolio includes High Sulphur Fuel Oil, Very Low Sulphur Fuel Oil, and Low Sulphur Marine Gas Oil, providing visiting vessels with a full range of fuels. A major operational advancement is direct barge loading from Keamari Oil Terminals, eliminating trucking requirements and enabling large-scale deliveries. Vitol plans to expand infrastructure to handle 70 to 100 bunker operations per month and deploy additional vessels for bio-bunker deliveries by the second quarter of 2026, aligning Pakistan with evolving environmental standards in the global shipping industry. 40 to 50 percent of domestic refineries’ fuel oil output will now be channeled as bunker fuel, supporting industrial growth, energy security, and the emergence of seaports as hubs in the Blue Economy. The development to enhance operational efficiency, reduce vessel turnaround times, and strengthen the competitiveness of Pakistan’s maritime trade.
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Wafi Energy Pakistan Limited to Launch MG Motor Oil
MG JW Automobile Pakistan Pvt. Ltd. has partnered with Wafi Energy Pakistan Limited to launch MG Motor Oil in Pakistan. The launch introduces Advanced Synthetic Technology motor oils: 0W-20 SP C5 and 5W-30 SP C3. The signing ceremony was held at the MG CKD Plant in Lahore. Attendees included CEO MG Motors Pakistan, Director Lubricants Wafi Shell, and senior leadership from both companies. The oils are designed to boost engine life, improve fuel efficiency, and deliver consistent performance. They provide optimal efficiency, superior protection, and reliability for modern engines. The launch demonstrates MG’s commitment to premium after-sales service and world-class automotive solutions. The collaboration combines MG’s nationwide dealership network with Wafi Energy’s expertise in advanced lubricants. Customers across Pakistan will now have access to premium motor oils that enhance performance and engine longevity. The initiative is strengthening MG’s after-sales ecosystem, building customer trust, and supporting long-term growth in Pakistan’s automotive sector.
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M.T Lahore Inducted into PNSC Fleet
The vessel, with a deadweight tonnage of 112,051 tons, M.T Lahore, an Aframax tanker has inducted into Pakistan National Shipping Corporation (PNSC) fleet through PNSC’s subsidiary, Lahore Shipping (Pvt) Ltd. PNSC informed the exchange that the vessel has now been successfully incorporated into its operations. The latest additions form part of PNSC’s ongoing fleet expansion strategy aimed at increasing tanker capacity. Aframax-class tankers are typically used for medium-range crude oil transportation in regional and international markets.
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Pakistan to Resume Imports of Russian Crude Oil
Pakistan is considering resuming imports of Russian crude oil, in 2023, Pakistan imported 200,000 metric tons of Urals crude from Russia, with two refineries involved in the transaction. However, the imports were halted due to financial unviability and rising anti-Russian oil sentiments following the Russia-Ukraine conflict.The commercial viability of Russian crude, noting that it produces a higher proportion of furnace oil and requires blending with Middle Eastern grades to optimize the output of diesel and petrol. Gathering input from refineries and other stakeholders on the feasibility of resuming Russian crude imports and requested proposals from the oil sector covering commercial arrangements, logistics, and financing for any potential imports.
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11 Oil and Gas Blocks Awarded to Local E & P Companies
11 Oil and Gas Blocks Awarded to local exploration and production companies by the government of Pakistan in Punjab, Sindh and Baluchistan. The awarded blocks include eight in Baluchistan, two in Sindh, and one in Punjab. The successful joint venture partners include Oil and Gas Development Company Ltd (OGDCL), Pakistan Petroleum Ltd (PPL), Mari Energies Ltd (Mari Energies), Pakistan Oilfields Ltd (POL) and Prime Global Energies (Prime). Mari Energies will serve as operator for six blocks, OGDCL will operate three blocks, PPL and POL will operate one block. The minimum committed investment by the successful bidders exceeds $31 million (Rs8.66bn) over the next three years. In addition, more than Rs276m has been committed towards social welfare initiatives in the respective areas.
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Updated Framework to Enhance Rice Export
In a move to enhance export competitiveness, the Ministry of Commerce has revised the Duty and Taxes Remission for Export (DLTL) scheme. The updated framework allocates subsidies and introduces fixed rates across rice categories. The policy aims to stimulate higher export realization, industry stakeholders have expressed concerns regarding possible over-invoicing and rising domestic paddy prices, particularly in the Basmati segment where regional competitors maintain lower price points. The measure is designed to strengthen Pakistan’s position in key markets including Saudi Arabia, the UAE, the US, the EU, and the UK. The previous $1,275 per ton cap has been withdrawn, enabling exporters to claim a 9% rebate on shipments valued at $750 or above. In parallel, the Trade Development Authority of Pakistan is accelerating engagement across GCC and African markets through trade agreements, exhibitions, and targeted outreach initiatives to expand market share and reinforce long-term export growth.
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Record High Furnace Oil Export
Following the higher taxation and climate-related charges, furnace oil has become increasingly unattractive for domestic buyers, leading to domestic consumption declining drastically. Refineries including PARCO, NRL, PRL, ARL, and Cnergyico have been managing rising inventories amid weak domestic offtake. Exporting excess furnace oil has become necessary to prevent storage constraints and ensure smooth operations, Pakistan exported more than one million metric tons (MT) of furnace oil during the first seven months of the current fiscal year. Refineries exported 114,217 MT of furnace oil in January alone, the export volumes reflect a growing surplus of furnace oil in the local market, where demand has steadily declined due to fiscal measures and reduced reliance on the fuel for power generation. Higher petroleum levy on furnace oil, along with a climate support levy, making it less competitive than alternatives such as RLNG, coal, and renewable energy sources.
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US Eyes Investment Opportunities in Pakistan
The United States has expressed strong interest in expanding investments in Pakistan’s information technology, mining, minerals, and energy sectors, reflecting a shared commitment to deeper economic collaboration. Both countries agreed to actively promote bilateral trade and investment, emphasizing the importance of creating new opportunities for businesses on each side. Senior government officials and leading companies from the United States and Pakistan are expected to participate in the upcoming forum, highlighting high-level engagement and private-sector involvement. The two nations reaffirmed their dedication to strengthening economic ties and welcomed the convening of the US–Pakistan Trade and Investment Forum scheduled for March 31, 2026. They underscored the forum as a key platform for advancing partnerships and exploring new avenues of cooperation. Additionally, both sides reiterated their mutual interest in sustained dialogue and agreed to continue discussions on potential investments in major projects over the coming months, aiming to foster long-term economic growth and shared prosperity.
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