PRL to Import First Ever Cargo of Nigerian Crude Oil in September

Pakistan Refinery Ltd (PRL) will import its first-ever cargo of Nigerian Bonny Light crude from Vitol in September, Reuters reported. The 500,000-barrel light-sweet crude shipment will load later this month and is expected to arrive in Karachi by late September. The deal marks Pakistan’s first known purchase of Bonny Light, valued for its high gasoline and diesel yields. Pakistani refiners, like others in Asia, have recently turned to alternatives such as US West Texas Intermediate and Kazakh CPC Blend as Middle Eastern oil prices rise. Pakistan last imported Nigerian crude in 2014, when it purchased Yoho crude, according to Kpler data.