PSO clarifies no material developments in Greenfield Refinery Project

By MG News | February 26, 2024 at 03:46 PM GMT+05:00

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February 26, 2024 (MLN): Amid recent speculations circulating in the media, Pakistan State Oil Company Limited (PSO) on Monday clarified that no material developments have transpired regarding a Greenfield Refinery Project yet.

While it is true that PSO, under the guidance of the Government of Pakistan, has been engaging in discussions with various stakeholders regarding the establishment of such a project, it is imperative to emphasize that no material development has taken place which requires PSO to inform PSX.

It is worthwhile to mention that PSO through its letter on July 31, 2023, had informed PSX regarding the signing of MoUs with different entities on cooperation and collaboration to form a joint investment strategy for setting up the Greenfield Oil Refinery Project.

The company shall inform PSX as and when any material development takes place in this respect.

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