4 local refineries sign $5bn upgradation deals with govt to improve quality, production
ISLAMABAD: Four of five local refineries on Thursday finally entered into formal agreements with the government to upgrade their refining technologies for cleaner product quality and increased production, with an estimated investment of about $5 billion in five years. The upgradation agreements were signed under the Brownfield Petroleum Refining Policy 2026 , which was approved in the last week…
Four of Pakistan's five main refineries signed historic agreements on Thursday to invest $5 billion in upgrading their technology over the next five years. The deals were finalized under the new Brownfield Petroleum Refining Policy 2026, which replaced a seven-year stalemate. The refineries agreed to boost fuel quality and production, reducing reliance on imported petroleum products.
Only the Pak Arab Refinery, a joint venture with Abu Dhabi, had not yet signed the agreements, but could add to the investment total if they join. The Energy Committee welcomed the historic milestone, emphasizing the strategic importance of domestic refining capacity for the nation's energy security.
Written by urgent.news from Dawn Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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