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Four oil refineries sign upgrade agreements
ISLAMABAD/ KARACHI: Four of Pakistan’s five local oil refineries signed formal upgrade agreements with the government on Thursday, paving the way for an estimated USD 6 billion investment over the next five years. The multi-billion-dollar upgrades, initiated by Petroleum Minister Ali Pervaiz Malik, aim to modernise the domestic refining sector and strengthen the country’s long-term energy security. Under the approved Brownfield Petroleum Refining Policy 2026, upgrade agreements have officially been signed. The government designated Inter State Gas Systems (ISGS) to execute and oversee the deal...
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