Islamabad seeks to increase LPG purchases and explore discounted Iranian crude after U.S. eases petroleum sanctions restrictions.
Pakistan will increase liquefied petroleum gas imports from Iran and is considering cheaper crude oil supplies from Tehran, according to its petroleum minister. The move follows a U.S. decision to waive sanctions on Iranian petroleum, enabling Islamabad to explore alternative energy sources amid regional supply constraints.
The country has maintained close ties with Iran during the Middle East crisis, facilitating safe passage for Qatari LNG carriers bound for Pakistan. Analysts note the potential cost savings from Iranian oil could ease Pakistan’s energy import burden, though geopolitical risks remain.
No immediate market reaction was reported, but traders are monitoring the impact on regional oil and LPG pricing dynamics.