No material progress on refinery project: PSO clarifies

By MG News | October 16, 2023 at 03:16 PM GMT+05:00

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October 16, 2023 (MLN): Pakistan State Oil Company Limited (PSX: PSO) has informed that at this point in time, no material development has taken place regarding the establishment of a Greenfield Refinery Project which requires PSO to inform PSX.

As per the notice issued by the PSO on the PSX, the company under the supervision and guidance of the Government of Pakistan is actively engaged in discussions with various parties regarding the establishment of a Greenfield Refinery Project.

It is worthwhile to mention that PSO through its letter no. CS/PSO/1025 dated July 31, 2023, had informed PSX regarding the signing of a memorandum of understanding (MoUs) with different entities on cooperation and collaboration to form a joint investment strategy for setting up the Greenfield Oil Refinery Project.

“We shall inform PSX as and when any material development takes place.” the notice further clarified.

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