Pakistan is exploring the possibility of importing cheaper oil and gas from Iran as part of efforts to reduce energy costs and provide relief to consumers, according to Petroleum Minister Ali Pervaiz Malik. The development comes amid reports of a temporary easing of certain US sanctions on Tehran, opening a potential window for energy trade discussions.
Speaking to the media in Lahore, the minister said the government is actively evaluating policy options aimed at lowering petroleum prices in the domestic market. He added that reducing the financial burden of energy imports remains a key priority as Pakistan continues to face pressure from rising global fuel costs.
The renewed interest in Iranian crude oil imports reflects Pakistan’s broader strategy to diversify its energy sources and secure more cost-effective supply arrangements. Officials believe that sourcing discounted crude oil could help stabilize domestic fuel prices while improving overall energy security.
If implemented, the plan could allow Pakistan to import Iranian crude and refine it locally into higher-value petroleum products such as diesel, petrol, and other fuels. This approach may also support domestic refining capacity and reduce dependency on more expensive international suppliers.
Industry estimates suggest that importing Iranian oil could generate significant savings for Pakistan. Analysts indicate that if 10 to 20 percent of the country’s total petroleum requirements are met through discounted Iranian supplies, including freight advantages, the country could save between $170 million and $340 million in import costs.
However, energy analysts also note that any potential agreement would depend on international diplomatic conditions, particularly the status of sanctions and compliance with global trade frameworks. Pakistan would need to carefully balance economic benefits with geopolitical considerations before moving forward.
The government has reiterated that all possible energy procurement options are being reviewed to ensure affordability and stability in the domestic market. Officials maintain that any future agreements will be structured to prioritize national economic interests while ensuring compliance with applicable international regulations.
As Pakistan continues to navigate global energy challenges, the prospect of importing Iranian oil highlights the country’s search for sustainable and cost-effective energy solutions. The final decision will depend on diplomatic developments, market conditions, and long-term economic feasibility.
