Cnergyico signs refinery upgradation agreement with govt
Mettis Global • • 1 min read
Cnergyico PK Limited has signed an upgradation agreement with the government of Pakistan, according to Mettis Global, which reported the deal on September 24, 2026. The contract was executed with Inter State Gas Systems (Private) Limited, a state-owned enterprise acting for the government, and it covers upgrading and modernising the company's current refinery.
The signing follows approval from the Economic Coordination Committee of the Cabinet under the Pakistan Oil Refining Policy for Upgradation of Existing/Brownfield Refineries, 2023, with amendments made in August 2026. Inter State Gas Systems has been named the implementation entity on behalf of the Petroleum Division, and the project will proceed in line with that policy's rules.
The company said it will keep working on upgrading and modernising its refinery, and it thanked the government for supporting the wider refining sector. The ceremony took place in Islamabad, attended by government officials and representatives of the participating refineries. The announcement reached the Exchange through a notification.
At a glance
- Cnergyico signed a refinery upgradation agreement with the government on September 24, 2026.
- The deal was executed through Inter State Gas Systems, nominated as implementation entity for the Petroleum Division.
- The agreement follows Economic Coordination Committee approval under the 2023 refining policy, amended in August 2026.
Stocks in this story
Originally reported by Mettis Global
This page is Investify's own summary. The full report, with all details and context, is on the publisher's site.
Read the full storyWant the full article here?
Log in to read the full article in the Investify reader, in English or Urdu.
Investify summarizes Pakistan Stock Exchange news in its own words and links each story to its original publisher. We always credit the source so you can read the full report and verify the details before making financial decisions.
More on CNERGY
Refineries urge govt to withdraw revised MS pricingMettis• 3 Nov 2026Negative coverage- CNERGY swings to Rs13bn 1QFY27 profitMettis• 27 Oct 2026Positive coverage
PMSA praises Cnergyico for prompt response to oil spill incidentBR• 16 Oct 2026Positive coverage- CNERGY discloses 71% stake move from BIL Mauritius to Singapore parentMettis• 7 Oct 2026Neutral coverage
- Cnergyico refines its next chapter with cleaner fuels and wider reachMettis• 6 Oct 2026Positive coverage
Pakistan, Saudi Arabia investors launch fund to boost trade, investmentDawn• 9 Nov 2026
