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KARACHI/SINGAPORE: Pakistan’s largest refiner Cnergyico will import 1 million barrels of oil from Vitol in October, its Vice Chairman Usama Qureshi told Reuters on Friday, marking the country’s first-ever purchase of US crude following a landmark trade deal.

The West Texas Intermediate light crude cargo will be loaded from Houston this month and is expected to arrive in Karachi in the second half of October, Qureshi said.

“This is a test spot cargo under our umbrella term agreement with Vitol. If it is commercially viable and available, we could import at least one cargo per month,” he said, adding that the shipment was not meant for resale.

The deal follows months of multiple negotiations which first began in April, he said, after US President Donald Trump threatened to impose 29 percent tariffs on imports from Pakistan.

Qureshi said Pakistan’s finance and petroleum ministries encouraged local refineries to explore US crude imports after the April tariff announcement.

Vitol did not immediately respond to a request for comment sent outside of office hours.

On Thursday, Pakistan hailed a trade deal struck with the US, its top export market, and said the agreement would increase investments. The White House said on Thursday the US will charge a 19 percent tariff on imports from Pakistan.

A key China ally, Pakistan has been warming up to Trump after he threatened tariffs. It has credited US diplomatic intervention for ending recent hostilities with neighboring India and nominated Trump for the Nobel Peace Prize.

Oil is Pakistan’s biggest import item and its shipments were valued at $11.3 billion in the year ended June 30, 2025, accounting for nearly a fifth of the country’s total import bill.

The import deal will help Pakistan diversify its crude sourcing and reduce reliance on Middle Eastern suppliers, who account for nearly all of its oil imports.

“Gross refining margin is on par with Gulf grades, and no blending or refinery tweaks are required,” Qureshi said.

Cnergyico can process 156,000 barrels of crude per day and operates the country’s only single-point mooring terminal near Karachi, enabling it to handle large tankers unlike other refiners in Pakistan.

The company plans to install a second offshore terminal to allow larger or more frequent shipments, and to upgrade its refinery over the next five to six years, Qureshi said.

The refiner, which has been operating at an average refinery run rate of 30 percent to 35 percent due to tepid local demand, is betting on growth in demand for oil products.

“We expect run rates to rise as domestic demand strengthens and local production is prioritized over imported fuels,” Qureshi said.

Trump said on Wednesday the US would also cooperate with Pakistan to develop the South Asian country’s “massive oil reserves,” without providing further details.

ISLAMABAD: Pakistan has wrapped up its presidency of the United Nations Security Council (UNSC) for the month of July, the country’s UN mission said on Friday, after Islamabad helped refocused global attention on Gaza and the Middle East amid Israeli military actions.

Pakistan assumed the UNSC presidency at a time of a spiraling hunger crisis in Gaza due to Israel’s blockade of the territory, which did not allow any humanitarian aid to get through to war-torn Palestinian people, as well as Tel Aviv’s military actions elsewhere in the Middle East.

The South Asian country hosted an open debate at the Council and called for an immediate ceasefire and deliver of relief items to Gaza. It also backed an “inclusive” political process to stabilize a Syria rocked by clashes between the Druze minority and Bedouin clans that killed over 250 people.

Speaking at the wrap-up session, Pakistan’s envoy, Ambassador Asim Iftikhar Ahmad, expressed his deep appreciation to all UNSC members for their cooperation, collegiality and active engagement throughout his country’s presidency last month.

“Pakistan approached its presidency with a sense of humility, deep commitment to the purposes and principles of the UN Charter and focus on Council’s core mandate for maintaining international peace and security,” he was quoted as saying by Pakistan’s UN mission.

“Constructive spirit and support by the Council members went a long way in ensuring that our work remained focused, effective and inclusive.”

Pakistan’s Deputy Prime Minister Ishaq Dar pushed for “universal recognition” of the state of Palestine and its full membership at the UN at a high-level UN conference on the peaceful settlement of the Palestinian issue, which was co-chaired by ������Ƶ and France.

During its presidency, the UNSC adopted five resolutions that covered dispute resolution, Red Sea reporting, Yemen, Haiti, Central African Republic (CAR) sanctions, and the International Court of Justice (ICJ) elections, according to the Pakistani UN mission.

The country also hosted a briefing on UN–OIC cooperation, a meeting on adapting peace operations in light of major UN reviews.

Ambassador Ahmed congratulated Panama on assumption of the presidency for the month of August and assured it of Pakistan’s full support, the Pakistani mission said.