Islamabad, Pakistan’s three major oil refineries—Attock Oil Refinery, National Oil Refinery, and Pakistan Oil Refinery—are poised to sign a crucial agreement with the Oil and Gas Regulatory Authority (OGRA) under the Brownfield Refinery Policy. This agreement is expected to significantly boost the refineries’ efficiency and capacity, contributing to national energy security and economic growth.
According to Ministry of Information and Broadcasting, the Brownfield Refinery Policy, approved by the Federal Cabinet in August last year, is designed to encourage existing refineries to upgrade, modernize, and expand. OGRA is scheduled to meet with the refinery representatives soon to finalize the agreements.
This initiative is also pivotal for the refineries’ plans to start producing Euro-V compliant fuel, aligning with global environmental standards. The agreement marks the beginning of a strategic partnership with the Special Investment Facilitation Council (SIFC) to support the production of environmentally friendly fuel. The successful implementation of this policy will increase the local production of petrol and diesel to Euro-V standards, reducing the reliance on imports and saving foreign exchange.