Refineries to maximise petrol, diesel production

KARACHI: In the wake of the upgradation policy, refineries have initiated to comply with Euro-V specifications, maximise the output of petrol and diesel and minimise the production of furnace oil (FO). “The upgradation policy is anticipated to enable refineries to increase total production of petrol (99 per cent) and diesel (47pc). The production of furnace oil is expected to reduce by 78pc,” said a research report on refinery upgradation by Arif Habib Ltd. The government with the help of the refinery industry, prepared a refinery upgradation policy, and already respective refineries have initiated feasibility studies for independent upgrades. According to the report, Pakistan’s total average requirement for the last five years for petroleum products stands at 24 million tonnes, out of which 11.35m tonnes have been produced locally while the rest (12.90m tonnes) were imported.