August 28, 2026
Pakistan's five oil refineries have told the Petroleum Division they are ready to sign Brownfield upgradation agreements early next month, deals the government says will unlock about $6 billion. The individual project figures published so far add up to less than that.
August 18, 2026
Pakistan's largest refiner imported about 8.1 million barrels of US crude over nine months and is buying more, as the Iran war exposes the country's dependence on Gulf shipping routes and Islamabad seeks tariff relief from Washington.
June 28, 2026
With Middle East supply chains choked by the Iran conflict, Islamabad is reviving its push for discounted Russian crude even as petroleum import premiums hit an all-time high.
Listen to the article Pakistan’s largest shelf, Cnergyico, will import 1 million barrels of oil from Vitol in October, USAMA Vice President of USA Qureshi told Reuters on Friday, noting the first market for US crude after a land trade agreement. The West Texas intermediate load will be loaded by Houston this month and is expected to arrive in Karachi in the second half of October, Qureshi said. “This is a test load under the umbrella agreement with Vitol. If it is commercially viable and available, we could enter at least one load per month,” he said, adding that the
KARACHI: Cnergyico PK, formerly known as Byco Petroleum, Pakistan’s largest oil refiner, has announced that it may soon sign a “definitive agreement” with the government to upgrade both of its refineries under Pakistan’s revised oil refining policy to upgrade of existing/ Brownfield Refineries, 2023. Speaking to The Express Tribune, an official involved in the refinery upgrade process said “Cnergyico is yet to sign the final agreement…but expects to sign the agreement soon with the government.” “The company is ready … to do everything to upgrade its factories,” he said. The upgrade will enable the refinery to significantly reduce the production
Oil refinery. PHOTO: AFP Islamabad: Cnergyico Pk Limited, the country’s largest refiner, is eyeing more than $1 billion in investment following the introduction of a new government policy aimed at boosting the industry. Following its investment, Cnergyico plans to boost production of Euro-V compliant high-speed gasoline and diesel while reducing furnace oil production in response to declining and unpredictable demand. Pakistan has faced several economic challenges in recent times, including political instability, soaring inflation, a weakening currency and dwindling foreign exchange reserves. These factors have eroded investor confidence, making local and foreign investors reluctant to commit capital to major projects.
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October 26, 2026
The Pakistan Daily
October 26, 2026
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