Pakistan fuel oil exports reached an all-time high in 2025, according to industry sources, and are expected to remain strong or increase further in 2026.
The rise in exports comes as higher domestic taxes reduced local consumption, while power plants are shifting to cleaner energy alternatives, such as coal and solar. This has encouraged refiners to prioritize exports over domestic sales.
Shipping data from Kpler and LSEG shows that Pakistan exported over 1.4 million metric tons of fuel oil in 2025, up more than 16% compared to 2024. Most of these shipments were directed to Southeast Asia and the Middle East. The cargoes primarily included high-sulphur fuel oil (HSFO), mainly used as marine fuel, while some volumes were supplied to refineries as feedstock.
Traders and analysts said the increased Pakistan fuel oil exports have added to Asia’s already well-supplied market, putting pressure on prices. Valerie Panopio, vice president for oil commodity markets at Rystad Energy, noted that Pakistan’s HSFO shipments contributed to excess supply in the region following the summer season.
Key exporters include Pak-Arab Refinery, Cnergyico, Attock Refinery, National Refinery, and Pakistan Refinery. Cnergyico exported approximately 247,000 tons of fuel oil in fiscal year 2024–25 and expects at least 50% growth in the current year. The company is partnering with global trading house Vitol to supply low-sulphur marine fuel from Pakistan ports.
Analysts said the rise in Pakistan fuel oil exports has helped refiners manage inventory limits and maintain steady operations. Syed Nazir Abbas Zaidi, Secretary General of Pakistan’s Oil Companies Advisory Council, stated that the trend is likely to continue in 2026, as fuel oil is no longer profitable for domestic power generation.
In other related news also read Pakistan Petrol Prices Expected To Drop This Week
Since 2023, Pakistan has transitioned from a net importer to a net exporter of fuel oil, strengthening its role in the regional energy market.
