Pakistan Refinery Limited
PPSX:PRL95.12
PKR
-4.76
(-4.77%)
Pakistan Refinery Limited
PSX:PRL
(Pakistan Stock Exchange)
Recent
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95.12
P/E
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div
yld
- -
ROIC.AI
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- Business
- Pakistan Refinery Limited is an energy company engaged in the refining of crude oil and the manufacturing and distribution of refined petroleum products across Pakistan. Incorporated in 1960 and headquartered in Karachi, Pakistan, the company operates as a subsidiary of Pakistan State Oil Company Limited, which maintains a controlling equity interest. The company operates an integrated hydro-skimming refinery facility situated at Korangi Creek, Karachi, supported by a dedicated crude oil receipt, storage, and berthing terminal installation at Keamari. Pakistan Refinery Limited possesses a nominal crude processing capacity of approximately 50,000 barrels per day, utilizing both imported crude grades and domestic indigenous crude feedstock to supply energy requirements for wholesale oil marketing companies, power generation facilities, industrial consumers, and defense institutions. The company's commercial operations comprise the manufacture and supply of various energy products and refining services; including High-Speed Diesel for commercial transportation, automotive, and agricultural sectors; Motor Gasoline for passenger transport and light commercial vehicles; High Sulfur Furnace Oil for thermal power plants and industrial combustion systems; Aviation Turbine Fuels, comprising Jet A-1 and military-grade JP-8, for domestic and international aviation operators and the Pakistan Armed Forces; Superior Kerosene Oil for domestic illumination and heating; Liquefied Petroleum Gas for residential and commercial heating and cooking; and Naphtha for industrial chemical processing and export markets. Complementary midstream and logistical services include crude oil discharge handling, bulk liquid storage, laboratory testing and quality assurance, and pipeline transit operations connecting the Keamari marine port terminal to the inland refining complex. In recent strategic developments, Pakistan Refinery Limited is executing its Refinery Expansion and Upgrade Project, a major brownfield modernization initiative designed to transform its existing configuration into a high-complexity deep-conversion refinery. The project targets doubling crude processing capacity from 50,000 barrels per day to 100,000 barrels per day, substantially eliminating the production of low-value High Sulfur Furnace Oil while maximizing output of higher-margin Euro-V standard High-Speed Diesel and Motor Gasoline, as well as introducing petrochemical feedstocks such as propylene. The company has completed its Front-End Engineering Design study with Wood Group and finalized core process technology licensing agreements with Honeywell UOP and Axens. Additionally, under the Government of Pakistan's amended Brownfield Refining Policy framework, the company has concluded regulatory upgrade agreements with the Oil and Gas Regulatory Authority to secure required fiscal and tariff incentives, advance debt-financing arrangements, and finalize engineering, procurement, and construction contracting structures.