SINGAPORE/KARACHI: Pakistan’s annual fuel oil exports hit an all-time high this year and are expected to trend steady to higher next year, as higher domestic taxes deterred purchases while power plants are switching to cleaner alternatives, industry sources said.
The uptick in Pakistan’s fuel oil exports has added to supply in Asia, weighing further on prices in a market that is already well-supplied, traders and analysts said.
Fuel oil exports from Pakistan reached a fresh high this year, shipping data from Kpler and LSEG showed.
Exports so far this year have breached 1.4 million metric tons (about 8.9 million barrels), up over 16 percent from the full-year volume in 2024, the data from Kpler showed, with most of these exports ending up in Southeast Asia and the Middle East. LSEG data showed exports at 1.33 million tons so far in 2025, up from 1.11 million tons last year.
The cargoes were mostly high-sulfur fuel oil (HSFO) and added mainly to marine fuel supply, while some volumes went to refineries as feedstock, market sources said.
