Pakistan Diversifies Oil Supply Amid Strait of Hormuz Crisis

News Desk 

Karachi: In a strategic response to the ongoing conflict in the Middle East, Pakistan has begun importing crude oil via the Red Sea, bypassing the Strait of Hormuz, which has been severely disrupted due to the US-Israeli war with Iran, sources confirmed on Wednesday.

A vessel from the Pakistan National Shipping Corporation (PNSC) arrived at Saudi Arabia’s Yanbu port and is scheduled to sail to Karachi on Thursday with 73,000 tonnes of crude oil. Meanwhile, the PNSC ship Shalamar has successfully loaded oil at Fujairah port and is en route to Karachi.

Shipping experts say the Strait of Hormuz, a key global oil transit route, has effectively ground to a halt since the conflict began more than a week ago, blocking the export of roughly 20% of the world’s oil and liquefied natural gas.

The disruptions have stranded two PNSC vessels near Karachi and at a charter port, highlighting the challenges facing energy imports.

The international supply crunch has pushed oil prices to levels not seen since 2022, prompting Pakistan’s federal government to raise petrol and diesel prices by Rs55 per litre.

Petrol now costs Rs321.17 per litre, up from Rs266.17, while diesel has increased to Rs335.86 per litre from Rs280.86.

Meanwhile, Port Qasim continues to receive petrol shipments, with four vessels docking on Tuesday. Around 37,000 tonnes of petrol have already been offloaded, and another 50,000 tonnes are in the process of being transferred.

Analysts say Pakistan’s Red Sea route imports reflect a growing need for energy security amid geopolitical volatility in the Middle East, offering a temporary lifeline as global oil flows remain under threat.