AIRLINK 152.12 Decreased By ▼ -8.16 (-5.09%)
BOP 9.12 Decreased By ▼ -0.36 (-3.8%)
CNERGY 7.09 Decreased By ▼ -0.72 (-9.22%)
CPHL 82.29 Decreased By ▼ -3.82 (-4.44%)
FCCL 42.81 Decreased By ▼ -0.92 (-2.1%)
FFL 14.21 Decreased By ▼ -0.75 (-5.01%)
FLYNG 28.59 Decreased By ▼ -0.10 (-0.35%)
HUBC 131.94 Decreased By ▼ -5.18 (-3.78%)
HUMNL 12.23 Decreased By ▼ -0.22 (-1.77%)
KEL 4.00 Decreased By ▼ -0.11 (-2.68%)
KOSM 4.91 Decreased By ▼ -0.33 (-6.3%)
MLCF 67.05 Decreased By ▼ -1.87 (-2.71%)
OGDC 200.38 Decreased By ▼ -7.43 (-3.58%)
PACE 4.99 Decreased By ▼ -0.17 (-3.29%)
PAEL 41.50 Decreased By ▼ -1.70 (-3.94%)
PIAHCLA 16.22 Decreased By ▼ -0.56 (-3.34%)
PIBTL 8.42 Decreased By ▼ -0.50 (-5.61%)
POWER 13.05 Decreased By ▼ -0.43 (-3.19%)
PPL 148.60 Decreased By ▼ -8.50 (-5.41%)
PRL 27.71 Decreased By ▼ -0.88 (-3.08%)
PTC 19.46 Decreased By ▼ -1.12 (-5.44%)
SEARL 81.97 Decreased By ▼ -2.62 (-3.1%)
SSGC 37.27 Decreased By ▼ -2.06 (-5.24%)
SYM 14.38 Decreased By ▼ -0.80 (-5.27%)
TELE 6.82 Decreased By ▼ -0.21 (-2.99%)
TPLP 8.14 Decreased By ▼ -0.68 (-7.71%)
TRG 63.13 Decreased By ▼ -0.71 (-1.11%)
WAVESAPP 8.04 Decreased By ▼ -0.83 (-9.36%)
WTL 1.25 Decreased By ▼ -0.01 (-0.79%)
YOUW 3.35 Decreased By ▼ -0.19 (-5.37%)
AIRLINK 152.12 Decreased By ▼ -8.16 (-5.09%)
BOP 9.12 Decreased By ▼ -0.36 (-3.8%)
CNERGY 7.09 Decreased By ▼ -0.72 (-9.22%)
CPHL 82.29 Decreased By ▼ -3.82 (-4.44%)
FCCL 42.81 Decreased By ▼ -0.92 (-2.1%)
FFL 14.21 Decreased By ▼ -0.75 (-5.01%)
FLYNG 28.59 Decreased By ▼ -0.10 (-0.35%)
HUBC 131.94 Decreased By ▼ -5.18 (-3.78%)
HUMNL 12.23 Decreased By ▼ -0.22 (-1.77%)
KEL 4.00 Decreased By ▼ -0.11 (-2.68%)
KOSM 4.91 Decreased By ▼ -0.33 (-6.3%)
MLCF 67.05 Decreased By ▼ -1.87 (-2.71%)
OGDC 200.38 Decreased By ▼ -7.43 (-3.58%)
PACE 4.99 Decreased By ▼ -0.17 (-3.29%)
PAEL 41.50 Decreased By ▼ -1.70 (-3.94%)
PIAHCLA 16.22 Decreased By ▼ -0.56 (-3.34%)
PIBTL 8.42 Decreased By ▼ -0.50 (-5.61%)
POWER 13.05 Decreased By ▼ -0.43 (-3.19%)
PPL 148.60 Decreased By ▼ -8.50 (-5.41%)
PRL 27.71 Decreased By ▼ -0.88 (-3.08%)
PTC 19.46 Decreased By ▼ -1.12 (-5.44%)
SEARL 81.97 Decreased By ▼ -2.62 (-3.1%)
SSGC 37.27 Decreased By ▼ -2.06 (-5.24%)
SYM 14.38 Decreased By ▼ -0.80 (-5.27%)
TELE 6.82 Decreased By ▼ -0.21 (-2.99%)
TPLP 8.14 Decreased By ▼ -0.68 (-7.71%)
TRG 63.13 Decreased By ▼ -0.71 (-1.11%)
WAVESAPP 8.04 Decreased By ▼ -0.83 (-9.36%)
WTL 1.25 Decreased By ▼ -0.01 (-0.79%)
YOUW 3.35 Decreased By ▼ -0.19 (-5.37%)
BR100 11,776 Decreased By -377.8 (-3.11%)
BR30 34,410 Decreased By -1457.9 (-4.06%)
KSE100 111,327 Decreased By -3545.6 (-3.09%)
KSE30 33,993 Decreased By -1274 (-3.61%)

KARACHI: Pakistan Refinery Limited (PRL) is all set to sign a supplemental agreement with the Oil and Gas Regulatory Authority (Ogra).

This agreement will pave the way for a transformative upgrade and expansion project that will double PRL’s refining capacity, from 50,000 barrels per day (bpd) to 100,000 bpd. Crucially, the project will also enable PRL to produce EURO V standard fuel, which will save the company billions of rupees annually in penalties for non-compliance with environmental regulations.

These agreements followed the inking of a deal with the regulator, the Oil and Gas Regulatory Authority (Ogra), to access incentives outlined in the new refinery policy. The upcoming signing of the supplemental agreement will significantly enhance the incentives offered in the amended brownfield policy approved in February 2024, highlighting PRL’s proactive approach to regulatory compliance and its determination to capitalize on the incentives outlined in the new refinery policy.

The expansion undertaken by PRL represents an investment aiming at ensuring long-term sustainability, with plans to increase Motor Spirit production by more than six times, High-Speed Diesel by three times, and the eventual elimination of Furnace Oil from its product portfolio. Without these upgrades and expansion, the long-term sustainable operation of the company will remain a question mark.

In the meantime, PRL is ensuring that its existing operations remain sustainable by focusing on operational excellence. Consequently, PRL achieved and surpassed production targets for the second quarter of 2023-24, demonstrating a significant improvement in its production mix and setting new industry standards.

Copyright Business Recorder, 2024

Comments

Comments are closed.