PRL to enjoy $5bn investment after new policy

News Image

MG News | July 11, 2023 at 01:28 PM GMT+05:00

0:00

July 11, 2023 (MLN): Pakistan Refinery Limited (PSX: PRL)  expects a $5 billion investment after a new policy that aims to encourage the development of five deep conversion refineries collectively capable of refining around 350,000 barrels/day of crude oil, Tariq Kirmani, Chairman at Pakistan Refinery says in a statement.

The policy will lead to an estimated investment of about $4bn-$5bn, Bloomberg reported.

The payback from a brownfield policy far exceeds the benefits anticipated from a recently approved greenfield policy.

The greenfield policy targets to woo investments in a new refining complex that is slated to cost about $10bn-$12bn for a refinery of about 250,000 bpd.

PRL is upgrading its refinery and doubling capacity but the efforts require support from the government.

The scrip of the company was trading at Rs16.3 prior to this news, which has now jumped by around 6.5% DoD to Rs17.34 per share.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 136,379.97
273.10M
0.32%
440.10
ALLSHR 84,648.35
701.94M
0.06%
47.97
KSE30 41,546.23
70.12M
0.42%
172.55
KMI30 191,719.76
71.30M
0.34%
649.79
KMIALLSHR 55,827.74
371.98M
0.16%
89.67
BKTi 37,827.61
18.93M
-1.72%
-662.14
OGTi 27,670.67
7.41M
-0.42%
-117.47
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,635.00 119,915.00
118,035.00
-995.00
-0.83%
BRENT CRUDE 68.76 69.01
68.75
0.24
0.35%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
1.80
1.90%
ROTTERDAM COAL MONTHLY 104.50 0.00
0.00
-1.05
-0.99%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.70 66.99
66.58
0.32
0.48%
SUGAR #11 WORLD 16.55 16.67
16.40
-0.01
-0.06%

Chart of the Day


Latest News
July 17, 2025 at 06:31 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 16, 2025 at 11:00 PM GMT+05:00

SBP raises Rs342bn in PIB Auction


July 16, 2025 at 10:17 PM GMT+05:00

TRG case files stolen en route to Islamabad


July 16, 2025 at 05:45 PM GMT+05:00

PM pushes for digital, International-Standard education


July 16, 2025 at 05:09 PM GMT+05:00

Gold price in Pakistan falls Rs3,000 per tola



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg