National Refinery Limited
PPSX:NRL567.42
PKR
-32.61
(-5.43%)
National Refinery Limited
PSX:NRL
(Pakistan Stock Exchange)
Recent
price
567.42
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div
yld
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ROIC.AI
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- Business
- National Refinery Limited is a Pakistan-based petroleum refining and petrochemical manufacturing company engaged in the processing of crude oil into refined petroleum fuels, specialty lubricants, and petrochemical products. Founded in 1963 and headquartered in Karachi, Pakistan, the company operates as a subsidiary of the Attock Group, with major shareholding held through Attock Refinery Limited, Pakistan Oilfields Limited, and Attock Petroleum Limited. The company owns and operates an integrated manufacturing complex situated in the Korangi Industrial Area of Karachi, comprising one fuel refinery and two lube refineries with an aggregate crude processing capacity of approximately 70,000 barrels per day, positioning it as the second-largest refinery in Pakistan and the country's sole domestic manufacturer of lube base oils. The company operates through two primary business segments: the Fuel segment and the Lube segment. The Fuel segment is dedicated to refining crude oil into conventional transport and industrial fuels, while the Lube segment processes reduced crude oil to manufacture specialty industrial oils, asphalt, and chemical derivatives. The company's product portfolio includes motor gasoline (MOGAS); Euro-V standard High-Speed Diesel (HSD); aviation turbine fuels, including Jet A-1 and JP-8; superior kerosene oil; furnace oil; liquefied petroleum gas (LPG); and light and heavy naphtha. Its lubricants, petrochemicals, and specialty materials portfolio includes multiple viscosities of lube base oils; paving and industrial grade bitumen (asphalt); petroleum waxes; benzene, toluene, and xylene (BTX) aromatics; and elemental sulphur as a refining by-product. National Refinery Limited distributes its products to domestic oil marketing companies, power generation plants, road construction contractors, industrial end-users, and defense entities throughout Pakistan, while exporting surplus naphtha and specialty products to international markets. In recent developments, National Refinery Limited is advancing a major multi-million-dollar brownfield modernization and expansion project in alignment with the Pakistan Oil Refining Policy for Upgradation of Existing/Brownfield Refineries. The strategic initiative focuses on deep-conversion refining technologies to phase out low-value furnace oil production and substantially increase yields of Euro-V compliant motor gasoline and high-speed diesel. As part of this transition, the company commissioned international energy consultancy Wood to execute comprehensive technical and economic feasibility studies for the integration of new processing units, including a Hydrocracker/Bottom-of-Barrel unit and a Continuous Catalyst Regeneration (CCR) Platforming unit. In addition, the company has finalized preparations to enter formal upgrade agreements under the revised regulatory framework, utilizing dedicated escrow financing, regulatory tariff protections, and tax incentives to modernize its refining configuration and enhance environmental compliance.