Pakistan Refinery Ltd inches closer to producing Euro-5 fuels

The Oil and Gas Regulatory Authority (Ogra) and Pakistan Refinery Ltd (PRL) on Thursday signed the first agreement under the revised Brownfield Refinery Policy 2023 announced in August to upgrade and enhance refining capacity for production of better quality fuels. The Brownfield Refinery Policy, a critical component of the national strategic framework, necessitated these agreements to facilitate existing refineries in advancing their projects towards producing Euro-5-compliant fuels. The implementation of this policy is poised to usher in positive transformations within the oil sector of Pakistan, Ogra said in a statement. Under the policy, the refineries were required to enter into a binding agreement with Ogra for expansion of capacity and improvement in quality products within three months after the notification. So far, PRL is the only refinery and that too in the public sector to sign a formal agreement.