{"id":67697,"date":"2026-08-28T05:40:19","date_gmt":"2026-08-28T05:40:19","guid":{"rendered":"https:\/\/pakistanintheworld.pk\/live\/?p=67697"},"modified":"2026-08-28T05:55:01","modified_gmt":"2026-08-28T05:55:01","slug":"all-refineries-gear-up-to-sign-upgradation-agreements-6-billion-investment-likely-minister-reviews-refinery-modernisation-energy-security-and-supply-resilience","status":"publish","type":"post","link":"https:\/\/pakistanintheworld.pk\/live\/all-refineries-gear-up-to-sign-upgradation-agreements-6-billion-investment-likely-minister-reviews-refinery-modernisation-energy-security-and-supply-resilience\/","title":{"rendered":"All Refineries Gear Up to Sign Upgradation Agreements, $6 Billion + Investment likely | Minister Reviews Refinery Modernisation, Energy Security and Supply Resilience"},"content":{"rendered":"
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\"\"KARACHI: August 28,2026 – Federal Minister for Petroleum Ali Pervaiz Malik held meetings with the managements of Pakistan\u2019s five oil refineries, Pak Arab Refinery Limited (PARCO), Pakistan Refinery Limited (PRL), National Refinery Limited (NRL), Cnergyico and Attock Refinery Limited (ARL), to review progress towards implementation of the Brownfield Refinery Upgradation Policy, the financial and operational performance of the refineries, and measures to strengthen Pakistan\u2019s energy security.<\/p>\n

The managements of all five refineries reaffirmed their readiness to sign agreements under the Refinery Upgradation Policy, with the agreements expected to be signed early next month. The agreements are expected to unlock approximately $6 billion in investment in Pakistan\u2019s refining sector.<\/p>\n

The Federal Minister highlighted that refinery upgradation is essential for long term sustainability of the country\u2019s refining sector. He said the planned upgrades would enable refineries to produce Euro 5 compliant fuel products in Pakistan. Producing these products domestically would help reduce reliance on imported petrol and diesel and could also help bring down their price compared to imported products.<\/p>\n

The Minister stressed that timely signing of the agreements was imperative for taking forward the upgradation programme. He said the government would continue to facilitate the refineries in addressing any issues related to implementation of the policy.<\/p>\n

During a separate meeting with PARCO management, the Minister was briefed on the company\u2019s financial and operational performance, along with its broader plans for strengthening Pakistan\u2019s energy security.<\/p>\n

The Minister appreciated PARCO for managing its operations effectively during the Strait of Hormuz crisis. He said Pakistan successfully managed the crisis and ensured that the country\u2019s petroleum supply system did not run dry. He emphasised that maintaining continuity of petroleum supplies and building resilient supply chains remained essential components of Pakistan\u2019s energy security.<\/p>\n

The Minister was also briefed on ongoing developments concerning the proposed Oil City in Hub, envisaged as a strategic energy terminal, storage complex. The project is aimed at strengthening energy security, enhancing trade connectivity, supporting supply assurance and contributing to economic growth.<\/p>\n

H.E Mohammad Ali Hosseini: Iran Ready to Supply Gas & Electricity to Pakistan – Flights Should be Increased – Important Energy Project will be Accomplished Soon<\/a><\/p><\/blockquote>\n