PM Shehbaz Approves $6 Billion Refinery Upgrades Plan

[nahtanbob]

I mean they literally said they have selected sites in the GCC ( UAE, Oman, Saudi Arabia) that bypass the Strait of Hormuz for that very reason, but dream on.

Do you really think American investors, even if they were not from the Modi-loving Gujarati American Indian community, have Pakistan even in their consideration set when they are considering setting up a refinery in Saudi Arabia , UAE or Oman.

money does not have religion

 

[nahtanbob]

You'd better pray that this is just a dream.
You'd better pray that this day will never come.

The world we live in is full of unspoken rules. Neither India nor Pakistan, with all their friends and enemies, will allow their energy independence.

world is too complex to be broken to cliches

 

[Owaiz]

You lack basic comprehension and arithmetic skills. You were blabbering about 80 years , I told you that for 65 years we were mismanaged , worse than you. Now we have a surplus capex to utilise as per priority, we have begun Coal to Syngas projects. we might move towards CTL if our Andaman Nicobar oil exploration fails.
You dolt definitely haven't checked that how many times did crude price even slump below 45$/B

Sure dude, you are right and the Indian government, all the cash rich energy SOEs, Ambanis, Adanis, Tatas and all other foreign and domestic investors have been too stupid to have recognized the genius of your idea over the last many decades.

 

[hydrabadi_arab]

You lack basic comprehension and arithmetic skills. You were blabbering about 80 years , I told you that for 65 years we were mismanaged , worse than you. Now we have a surplus capex to utilise as per priority, we have begun Coal to Syngas projects. we might move towards CTL if our Andaman Nicobar oil exploration fails.
You dolt definitely haven't checked that how many times did crude price even slump below 45$/B

India oil production have declined from 800k barrels to 550k barrels yet its not bothering to invest in coal to oil which is ancient tech.

 

[GatlingGunZ]

India oil production have declined from 800k barrels to 550k barrels yet its not bothering to invest in coal to oil which is ancient tech.

Right now we are drilling in Indian Ocean near Andaman Nicobar SEZ. If that fails then we might see for CTL project.

 

[royalharris]

Are new oil refineries still being built?

China has completely stopped approving new oil refineries. It is also upgrading the technological capabilities of existing refineries and phasing out outdated production capacity.

The era of renewable energy is rapidly approaching, driven by wind, solar, hydropower, and nuclear energy.

 

[c14-Isotope]

If their government believes this is the best use of that money, then such hairbrained ideas should be welcomed.

. . .

Pakistan’s refinery upgrade is a bet the world is already unwinding

After two decades of deliberation, Pakistan has finally approved a policy to upgrade its refineries. The timing...

www.brecorder.com

 

[hydrabadi_arab]

. . .

Pakistan’s refinery upgrade is a bet the world is already unwinding

After two decades of deliberation, Pakistan has finally approved a policy to upgrade its refineries. The timing...

www.brecorder.com

This upgradation will barely meet Pakistan current needs for MS petrol, will have to export surplus diesel which is easy compared to furnace oil.

decade late but better late then never.

 

[Owaiz]

This upgradation will barely meet Pakistan current needs for MS petrol, will have to export surplus diesel which is easy compared to furnace oil.

decade late but better late then never.

What you are missing is that most analysts expect global gasoline demand to peak in the 2020s and global diesel demand to peak in the 2030s. Who is going to absorb this excess supply when there is already overcapacity and demand is going to decline.

 

[SoulSpokesman]

@Owaiz sb

Who is going to absorb this excess supply when there is already overcapacity and demand is going to decline.

Many of the older low complexity refineries, especially in the West are going to shut down. It will be a slow sunset but the efficient ones will still make some money.

Regards

 

[hydrabadi_arab]

Iranian oil smuggling drops 60pc, claim sources​

Iranian oil smuggling drops 60pc, claim sources

Influx slows after terrorists destroyed six tankers in 45 days.

www.dawn.com

With 60% drop in smuggling because of BLA attacks on tankers last month this happened.

"Pakistan's overall refinery upliftment surged 47.7% YoY to 1,143,000 tons in July '26, up from 774,000 tons a year earlier, driven by a broad-based rise in MS, HSD & FO offtake, according to the data compiled by AHL Research."

Even with current upgradation plan it will not be able to meet demand if we stop Iranian oil smuggling.

 

[hydrabadi_arab]

Pakistan’s five refineries agree to sign $6 billion upgrade deals early next month​

Ali Pervaiz Malik says upgrades will support long-term refinery sustainability and enable domestic production of Euro 5-compliant fuel.

ISLAMABAD: Pakistan’s five major oil refineries are ready to sign agreements under the Brownfield Refinery Upgradation Policy early next month, with the agreements expected to unlock approximately $6 billion in investment in the country’s refining sector.

Federal Minister for Petroleum Ali Pervaiz Malik held meetings with the managements of Pak Arab Refinery Limited, Pakistan Refinery Limited, National Refinery Limited, Cnergyico and Attock Refinery Limited to review progress towards implementation of the Brownfield Refinery Upgradation Policy, the financial and operational performance of the refineries, and measures to strengthen Pakistan’s energy security.

The managements of all five refineries reaffirmed their readiness to sign agreements under the Refinery Upgradation Policy, with the agreements expected to be signed early next month.

"The agreements are expected to unlock approximately $6 billion in investment in Pakistan’s refining sector," according to the information shared during the meetings.

The minister highlighted that refinery upgradation is essential for the long-term sustainability of the country’s refining sector. "Refinery upgradation is essential for the long-term sustainability of the country’s refining sector," Ali Pervaiz Malik said.

He said the planned upgrades would enable refineries to produce Euro 5-compliant fuel products in Pakistan.


"Producing these products domestically would help reduce reliance on imported petrol and diesel and could also help bring down their price compared to imported products," he said.

The minister stressed that timely signing of the agreements was imperative for taking forward the upgradation programme. "Timely signing of the agreements was imperative for taking forward the upgradation programme," he said.

He said the government would continue to facilitate the refineries in addressing any issues related to implementation of the policy.

During a separate meeting with PARCO management, the petroleum minister was briefed on the company’s financial and operational performance, along with its broader plans for strengthening Pakistan’s energy security.


He appreciated PARCO for managing its operations effectively during the Strait of Hormuz crisis.

"Pakistan successfully managed the crisis and ensured that the country’s petroleum supply system did not run dry," he said.

Malik emphasised that maintaining continuity of petroleum supplies and building resilient supply chains remained essential components of Pakistan’s energy security.

He was also briefed on ongoing developments concerning the proposed Oil City in Hub, envisaged as a strategic energy terminal and storage complex. The project is aimed at strengthening energy security, enhancing trade connectivity, supporting supply assurance and contributing to economic growth.

In a meeting at PRL, the Managing Director, Board of Directors and management briefed the federal minister on the company’s current financial and operational performance. The management also apprised the Minister of measures taken to maintain continuity of refinery operations during the Strait of Hormuz crisis.

In meetings with Cnergyico, NRL and ARL, the petroleum minister sought the views of the respective Managing Directors on any impediments to implementation of the New Refinery Upgradation Policy.

The managing directors informed the minister that their respective companies had completed the required preparations and were now ready to sign the agreements, which would constitute the first step towards implementation of the policy.

The Managing Director of ARL highlighted the need to upgrade existing refineries to ensure their compliance with changing global dynamics and evolving fuel standards. He also appreciated the petroleum minister’s leadership, noting the pivotal role played by the Ministry in advancing major reforms in the petroleum sector.

Malik reiterated that modernising Pakistan’s refining capacity was important not only for improving the quality and efficiency of petroleum products but also for strengthening domestic supply resilience, reducing reliance on imported petrol and diesel, and advancing the country’s broader energy security objectives.

"Modernising Pakistan’s refining capacity was important not only for improving the quality and efficiency of petroleum products but also for strengthening domestic supply resilience, reducing reliance on imported petrol and diesel, and advancing the country’s broader energy security objectives," he said.

The petroleum minister said the government remained committed to working with the refining industry to ensure timely implementation of the New Refinery Upgradation Policy and to facilitate the investments required for the sector’s modernisation.

"The government remained committed to working with the refining industry to ensure timely implementation of the New Refinery Upgradation Policy and to facilitate the investments required for the sector’s modernisation," he said.

The planned agreements with the five major refineries are expected to mark a major step towards modernising Pakistan’s refining infrastructure, enabling domestic production of Euro 5-compliant fuel products, reducing reliance on imported petrol and diesel, and strengthening the country’s energy security.