Pakistan’s July base oils imports rise

Pakistan’s base oils imports stayed volatile in July even amid signs of steadier flows compared with the start of the year.

Base oils imports of close to 19,000t in July rose from 14,000t the previous month, provisional customs data showed.

The volume almost tripled from year-earlier levels, following a slump in June shipments.

The pick-up in supplies lifted total imports to more than 61,000t in the three months to July.

The volume was similar to year-earlier levels.

It contrasted with a 40pc fall in Pakistan’s base oils imports in the first four months of the year from year-earlier levels.

Steadier base oils imports coincided with signs of improving domestic lube demand in July.

South Korea accounted for more than 70pc of Pakistan’s imports in July for a second month.

The share was typically closer to 60pc in the first four months of the year and closer to 50pc of the total in 2022.