Attock Refinery restarts operation of key unit

Amid improvement in the uplifting of High-Speed Diesel (HSD), Attock Refinery Limited (ATRL), a subsidiary of Attock Oil Company, has restarted operations of its main unit.

The company shared the development in its notice to the Pakistan Stock Exchange (PSX) on Wednesday.

“We wish to inform you that recently some improvement has been observed in uplifting of High-Speed Diesel (HSD). Accordingly, ATRL has restarted its main unit, however, the situation is being closely monitored with respect to product demand,” read the notice.

‘Essential maintenance’: Attock Refinery announces month-long shutdown of some units

Last month, the refinery announced the shutdown of its main crude distillation unit.

“We wish to inform you that due to high stocks of diesel we are forced to shutdown the main crude distillation unit with immediate effect,” the company announced in its notice to the bourse back then.

Attock Refinery was incorporated in Pakistan on November 8, 1978, as a private limited company and was converted into a public company on June 26, 1979. It is principally engaged in the refining of crude oil.

The company is a subsidiary of the Attock Oil Company Limited, England and its ultimate parent is Coral Holding Limited (a private limited company incorporated in Malta).

As per the company’s latest financial results, ATRL saw its profit-after-tax (PAT) declined 40%, clocking in at Rs5.5 billion for the period ended March 31, 2024.

The decline in profit was attributed to a reduction in revenue and an increase in the cost of sales.