Pakistan has begun importing crude oil through the Red Sea after the closure of the Strait of Hormuz disrupted shipments following the conflict in West Asia.
A tanker operated by the Pakistan National Shipping Corporation (PNSC) has reached Yanbu Port in Saudi Arabia and is expected to depart for Karachi on Thursday carrying 73,000 tonnes of crude oil, shipping sources told Geo News.
Another PNSC vessel, Shalamar, has also loaded oil from Port of Fujairah in the United Arab Emirates and is now sailing towards Karachi.
Officials said the security situation around the Strait of Hormuz has disrupted several voyages. Two PNSC ships are currently stranded, one near Karachi and another at a charter port, because of the instability in the region.
The disruption follows the outbreak of war between the US, Israel and Iran, which has severely affected energy shipments through the Strait of Hormuz, one of the world’s most critical oil transit routes.
Shipping through the narrow waterway has largely stalled since the conflict began more than a week ago, blocking the movement of roughly 20% of global oil and liquefied natural gas supplies and pushing energy prices to their highest levels since 2022.
The surge in international oil prices has also driven up domestic fuel costs in Pakistan. The federal government recently increased petrol and diesel prices by PKR55 per litre.
Petrol now costs PKR321.17 per litre, up from PKR266.17, while diesel prices have risen to PKR335.86 per litre from PKR280.86.
Meanwhile, officials confirmed that four petrol-laden vessels arrived at Port Qasim on Tuesday.
Around 37,000 tonnes of petrol have already been offloaded, while another 50,000 tonnes shipment is currently being transferred.
