Govt Moves Draft Refinery Upgrade Agreements to ECC for Approval
The Petroleum Division has sent draft Upgrade Agreements for existing and brownfield refineries to the Economic Coordination Committee for approval, … Read More The post Govt Moves Draft Refinery Upgrade Agreements to ECC for Approval appeared first on ProPakistani .
On August 10, 2026, the Cabinet Committee on Energy ratified amendments to the Pakistan Oil Refining Policy for Upgradation of Existing and Brownfield Refineries. The Economic Coordination Committee will now review draft Upgrade Agreements for refineries, which, if approved, could unlock $6 billion in investment. The amendments aim to increase Euro V product production, reduce furnace oil output, and improve refinery efficiency.
The Inter State Gas Systems will implement the agreements, while refineries must sign within 45 days or face penalties. The policy requires projects to be completed within five years, with incentives for early completion. Failure to commission upgraded projects within the maximum period could lead to license cancellation. The government anticipates increased domestic fuel production and foreign exchange savings.
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