Business & Economy

Pakistan Launches $1.7 Billion Refinery Upgrade: Report

© AP Photo / Martin Meissner A pumpjack of Wintershall DEA extracts crude oil at an old oil field in Emlichheim, Germany, March 18, 2022.
 A pumpjack of Wintershall DEA extracts crude oil at an old oil field in Emlichheim, Germany, March 18, 2022. - Sputnik India, 1920, 27.01.2024
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The proposed upgrade seeks to ramp up production and make low-sulfur fuel including Euro-II and Euro-V petrol and diesel available to Pakistani people.
Pakistan Refinery Limited (PRL) has started a refinery expansion and upgrade project (REUP) costing $1.7 billion, Pakistani media reported on Saturday.

The PRL aims to double processing capacity to 100,000 barrels per day and boost production of goods with high profit margins as well as low-sulfur fuel including Euro-II and Euro-V petrol and diesel, it added.

The state-owned company seeks to get an edge with the installation of a deep-conversion refinery, which is relatively new technology, along with the existing hydro-skimming refinery, the report said. It added that the development will help PRL become a pioneer in producing propylene chemicals in the country for polypropylene plastics.
PRL Chairman Tariq Kirmani claimed the refinery’s products would substitute imports, reduce dependence on imported fuel and chemical products, as well as save foreign exchange.
Pakistan's interim Prime Minister Anwaar-ul-Haq Kakar  - Sputnik India, 1920, 26.01.2024
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