PRL enters upgrade agreement with govt to modernize refinery

MG News | September 25, 2026 at 09:41 AM GMT+05:00

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September 25, 2026 (MLN): Pakistan Refinery Limited (PSX: PRL) has signed an Upgrade Agreement with the Government of Pakistan through Inter State Gas Systems (Private) Limited (ISGS), under the Pakistan Oil Refining Policy for Upgrade of Existing/Brownfield Refineries, 2023, as amended in August 2026. The agreement was signed on September 24, 2026, following approval from the Economic Coordination Committee (ECC) of the Cabinet.

The company joined National Refinery Limited (PSX: NRL), Attock Refinery Limited (PSX: ATRL) and Cnergyico Pk Limited (PSX: CNERGY) in signing similar agreements at a ceremony held in Islamabad, attended by representatives of the Government of Pakistan and the participating refineries.

ISGS has been designated by the Ministry of Energy (Petroleum Division) as the implementation entity for the agreements.

The company said it remains committed to upgrading and modernizing its refinery in line with the objectives of the policy, and expressed appreciation to the Government of Pakistan for its support and initiatives towards facilitating the country's refining sector.

The aforementioned information was disseminated through a notification to Exchange.

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