Pakistan Refinery says will shut down plant for ‘approximately 6 days’

Pakistan Refinery Limited (PRL) will shut down its plant from February 15 for approximately six days, the company said in a notice sent to the Pakistan Stock Exchange (PSX) on Friday.

The listed company disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Friday.

“Pakistan Refinery Limited (PRL) needs to undertake a maintenance job which will necessitate shutdown of its plant for approximately 6 days from February 15, 2025 to February 20, 2025,” read the notice.

Pakistan Refinery says will shut down for ‘approximately 20 days’

The refinery shared that the shutdown is coincidentally taking place at a time when the demand for petroleum products is low and “will help us to ensure sustainable operations during the upcoming harvesting season.”

PRL reported net sales of Rs168.88 billion for 1HFY25, marking a year-on-year decline of 7.3%.

According to the company’s latest financial results, the cost of sales decreased marginally by 1.1%, resulting in a steep decline in gross profit by 84.3% year over year to Rs2.12 billion. The gross margin reduced from 7.41% to just 1.26%.

The company is optimizing its crude intake to align with its refinery configuration, prioritizing crude types that enhance yields.

Key upgrades include the Refinery Expansion and Upgradation Project (REUP), which targets the production of EURO-V compliant fuels (HSD and MS); installation of advanced deep conversion refinery technology to minimize furnace oil production; and doubling refinery capacity from 50,000 bpd to 100,000 bpd.