Pakistan Seeks Non-Middle Eastern Crude Amid Strait of Hormuz Threats
Pakistan's oil processing companies are seeking alternative crude oil sources due to escalating tensions in the Middle East, particularly in the Strait of Hormuz and Red Sea. The country is exploring options from the United States, Nigeria, Singapore, and Central Asia, as Saudi Arabia's Red Sea crude exports have become unreliable.
According to a recent meeting between Pakistan's federal minister for petroleum and natural resources and industry participants, refiners have been instructed to identify new crude sources to ensure steady supplies. The minister emphasized the growing dangers to crude oil deliveries in the Middle East, citing the renewed closure of the Strait of Hormuz and threats by Iran-backed Houthi forces to obstruct the Bab el-Mandeb Strait.
Local newspaper The News reported that Pakistan Refinery Limited (PRL), Pakistan Arab Refinery Company (Parco), and National Refinery Limited (NRL) currently import crude oil from the United Arab Emirates via the Port of Fujairah, situated beyond the Strait of Hormuz. However, shipments of Saudi crude from the Red Sea terminal at Yanbu have become increasingly unreliable.