KARACHI: Pakistan`slargest oilrefiner Cnergyico has ordered a second shipment of US crude after finding its debut purchase commercially viable, its vice chairman said on Wednesday, paving the way for more imports.
Vitol will deliver a 1 million-barrel cargo of West Texas Light (WTL) crude in November under Cnergyico`s term supply arrangement with the European trader, Vice Chairman Usama Qureshi said.
`This is our second cargo, our trading team evaluated various crude for November and found WTL`s gross refining margin to be slightly better than (Gulf) crude,` Qureshi said.
`If economics remain favourable, we intend to keep importing.` The decision comes weeks after the firstever US crude cargo for Pakistan set sail from Houston on the Suezmax tanker Pegasus, chartered by Vitol, ship-tracking data from Kpler showed. The ship is due to dock in Karachi in late October.-Reuters