Pakistan to Invest $6 Billion in Upgrading Five Oil Refineries
Pakistan is preparing to invest up to $6 billion in upgrading its five major oil refineries, aiming to enhance domestic fuel production and reduce reliance on imports. The upgrades will enable the refineries—Pak Arab Refinery Limited (PARCO), Pakistan Refinery Limited (PRL), National Refinery Limited (NRL), Cnergyico, and Attock Refinery Limited (ARL)—to produce Euro-5 compliant fuels with ultra-low sulfur content. Federal Petroleum Minister Ali Pervaiz Malik emphasized the importance of modernizing refining capacity to improve fuel quality, strengthen domestic supply resilience, and advance energy security. The initiative comes amid rising costs for imported oil due to disruptions in Middle Eastern supplies caused by regional conflicts. Pakistan has been paying record premiums for fuel imports and exploring alternative crude sources from the U.S., Nigeria, and Central Asia. In a related development, Oil and Gas Development Company Limited (OGDC) recently signed an agreement with a Canadian firm to boost production of heavy crude oil using advanced technology.
