Attock Refinery resumes normal operations amid improved fuel stocks

MG News | December 21, 2023 at 12:29 PM GMT+05:00

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December 21, 2023 (MLN): Attock Refinery Limited (PSX: ATRL) has resumed its normal operations following the improvement in the upliftment of stocks of Premier Motor Gasoline (PMG) and High-Speed Diesel (HSD) by Oil Marketing Companies (OMCs), the company’s filing on local bourse revealed.

To recall, the company decided to shut down two of its crude distillation units on December 12 to manage its refinery operations due to an extremely high stock buildup of PMG and HSD.

The high levels of stockpiles are attributed to a depressed dispatch pattern for the current month of December 2023, resulting in very little to no ullage in storage tanks, particularly for PMG.

As a result, the company was operating at a throughput of about 60%.

At the time of writing, the company's share is being traded at Rs327, up by 10.22 rupees or 3.23% DoD.

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