Pakistan's refineries plan $5 billion upgrade push under revised policy, Parco commits $600 million to green fuel: report

According to Profit, which cited The News, five domestic refineries plan combined investments of $4.5 billion to $5 billion in cleaner fuel output, larger capacity and associated improvements. Parco's newly finalised $600 million green fuel project leads the programme. Officials are wrapping up accords with every local refinery, and signing is planned together at a ceremony attended by Prime Minister Shehbaz Sharif.

Refineries now have 45 days to sign implementation agreements under the amended Brownfield Refineries Upgradation Policy, compared with the earlier 60-day window. Parco, the country's largest refinery, says it will meet that deadline after two studies helped it choose an upgrade path. It chose the green fuel route instead of a standalone bottom-of-barrel plant and has already brought its furnace oil share down from roughly 20% to 14%.

Pakistan Refinery Limited plans a $1.8 to $2 billion bottom-of-barrel project to remove furnace oil output and double crude capacity from 50,000 to 100,000 barrels per day. Attock Refinery confirmed readiness to sign its agreement for a roughly $600 million project, which will let it meet Euro-V standards and lift motor gasoline output by about 25%. Cnergyico is preparing a $1.2 billion programme to lift crude capacity from about 156,000 to 200,000 barrels per day, while National Refinery is weighing a hybrid project worth $300 to $800 million with a final scope still pending.