PSO’s $1.5-2bn investment in PRL's refinery project still in early stages

By MG News | July 04, 2024 at 03:59 PM GMT+05:00

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July 04, 2024 (MLN): Pakistan State Oil Company (PSO)'s investment worth $1.5-2 billion through debt in Pakistan Refinery Limited (PRL)'s Refinery Expansion & Upgrade Project (REUP) is still at a premature stage and nothing conclusive or definitive has taken place.

The oil giant informed market participants in response to a media report published concerning the matter.

"PRL, being a listed company, shall inform PSX as and when any material development takes place with regards to REUP," the notice concludes.

It is worth noting that PSO is the parent company of PRL, holding a 63.6% ownership stake in it.

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