ECC likely to approve draft upgrade agreements for Brownfield Refineries

Mettis Global reported that the Economic Coordination Committee of the Cabinet is expected to take up draft upgrade agreements for existing refineries today. The Petroleum Division submitted these drafts to the panel, which lists them on its agenda. The agreements sit under a refining policy for brownfield upgrades that the government revised in August 2026.

Other items on the agenda include the financial settlement of oil marketing companies, known as OMCs, which the Petroleum Division also placed before the committee. The meeting is set for 4:30pm at the Finance Division in Islamabad and will be chaired by the Federal Minister for Finance and Revenue. Approval would represent a significant step toward putting the revised policy into effect and give existing refineries more clarity on their upgrade obligations and incentives.