PRL plans supplemental agreement following Brownfield Refining Policy 2024 updates

By MG News | April 03, 2024 at 01:58 PM GMT+05:00

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April 03, 2024 (MLN): Following the introduction of the new and amended Brownfield Refining Policy 2024, Pakistan Refinery Limited (PSX: PRL) plans to opt for the amended provisions/incentives of the policy and execute a supplemental agreement to the PRL Upgrade Agreement and Escrow Account Agreement.

To recall, on November 16, PRL announced the signing of the PRL Upgrade Agreement with OGRA (Oil and Gas Regulatory Authority) under the Brownfield Refining Policy 2023.

Since then, certain amendments to the policy and consequently the Brownfield Refining Policy 2024 have been promulgated.

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