September 25, 2019 (MLN): Hascol Petroleum Limited (HASCOL) via notification to Pakistan Stock Exchange (PSX), has informed that the Oil and Gas Regulatory Authority (OGRA) has granted the license to Hascol Lubricants Pvt Limited (wholly owned Subsidiary of HASCOL), to start commercial operations of the lube oil blending plant located at Port Qasim Authority.
The Blending Plant is built on a state-of-the-art technology with a capacity of 40,000 Metric Ton per anum.
The Blending Plant is powered by ABB Blending System (French Origin) which is considered as one of the best in the world along with Comaco Filling Machines (Italian Origin).
The Plant is also equipped with a laboratory of superior technology, capable of performing test of lubricants against International Standards.
As per the notification, the company expects that the commencement of the commercial operations of the Blending Plant will have a positive financial impact on its profitability and will also improve the existing volumes of the company’s lubricant business.
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