Pakistan oil refineries to sign upgradation deals worth $6bn

Pakistan’s five major oil refineries are set to sign agreements under the Brownfield Refinery Upgradation Policy early next month. This initiative is expected to attract approximately $6 billion in investment into the country’s refining sector.

Federal Minister for Petroleum Ali Pervaiz Malik met with the management of Pak-Arab Refinery Company Limited (PARCO), Pakistan Refinery Limited (PRL), National Refinery Limited (NRL), Cnergyico, and Attock Refinery Limited (ARL) to review the policy and refinery performance. The upgrades aim to modernize the sector, enabling domestic production of Euro-5 compliant fuels.

By increasing local production of petrol and diesel, the government intends to strengthen national energy security, reduce reliance on expensive imports, and potentially lower domestic fuel costs. The Minister assured industry leaders that the government would continue to facilitate the resolution of implementation-related issues to ensure the long-term sustainability of the sector.