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Articles for tag: 1.7bn, ARL, Latest, Launches, PRL, project, refinery, upgrade

January 27, 2024

News Desk

PRL launches $1.7bn refinery upgrade project

KARACHI: Pakistan Refinery Limited (PRL) has launched a $1.7 billion refinery expansion and upgrade (REUP) project in a bid to double its installed crude processing capacity to 100,000 barrels per day and boost production of high-margin products as well as low-sulphur fuel, including Euro-II and Euro-V gasoline and diesel. In addition, the installation of a deep conversion refinery, a relatively new technology, along with the existing sewage treatment plant will give the state-owned company a head start, becoming a pioneer in the production of propylene chemical in the country. The chemical is used in the production of polypropylene plastics. Speaking

January 22, 2024

News Desk

Govt launches diplomatic push to win over Riyadh, Chinese firm for $10bn green refinery project

Pakistan’s envoy in Riyadh has asked to approach the authorities to facilitate the project’s progress, a source said An Aramco employee walks near an oil tank at a Saudi Aramco oil refinery and oil terminal in Saudi Arabia. — Reuters/File FO also asked to help pursue Sinopec in China. SIFC awarded FO after PSO failed to convince Aramco, Sinopec. Pakistan has announced a new green refinery policy in line with Saudi Arabia’s wishes. ISLAMABAD: Islamabad has launched a diplomatic push to win over Saudi Arabia (KSA) and Chinese company Sinopec, known for setting up refineries, to set up the state-of-the-art

November 20, 2023

News Desk

Pakistan refinery project in limbo due to lackluster response from Saudi Aramco

Officials say Aramco officials have told Pakistan the refinery business is no longer as profitable as it was in the past An Aramco employee walks near an oil tank at a Saudi Aramco oil refinery and oil terminal in Saudi Arabia. — Reuters/File Aramco officials believe the refinery business is no longer profitable. Pakistan has indicated that it may reduce its equity in the project. Officials say Aramco is most interested in a petrochemical complex. ISLAMABAD: Despite the government’s efforts to woo Saudi Aramco to develop a $10 billion state-of-the-art refinery and deep conversion, it appears the company is not

November 5, 2023

News Desk

Riyadh asks Islamabad to approach China’s Sinopec for $10 billion green refinery project

Pumpjacks are seen during sunset at the Daqing oil field in China’s Heilongjiang province, August 22, 2019. — Reuters Riyadh wants the EPC contract to be given to Sinopec. The Petroleum Directorate asked to evaluate Sinopec’s investment interest. SIFC requests the department to facilitate the Chinese company if it is interested. Islamabad: Saudi Arabia has asked Islamabad to approach China’s Sinopec and make it part of the $10 billion green refinery to be set up in Pakistan, it said The news on Sunday. “We have announced and communicated the new green refinery policy with incentives of 7.5% deemed duty for

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