PRL all set to sign supplemental agreement with Ogra

KARACHI  -  Pakistan Refinery Limited (PRL) is all set to sign a supplemental agreement with the Oil and Gas Regulatory Authority (OGRA). This agreement will pave the way for a transformative up­grade and expansion project that will double PRL’s refining capacity, from 50,000 barrels per day (bpd) to 100,000 bpd. Crucially, the project will also enable PRL to produce EURO V standard fuel, which will save the company billions of rupees annually in penalties for non-compliance with environmen­tal regulations. These agree­ments followed the inking of a deal with the regulator, the Oil and Gas Regulatory Author­ity (OGRA), to access incentives outlined in the new refinery policy. The upcoming signing of the supplemental agreement will significantly enhance the incentives offered in the amend­ed brownfield policy approved in February 2024, highlighting PRL’s proactive approach to regulatory compliance and its determination to capitalize on the incentives outlined in the new refinery policy.

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