Islamabad December 28 2021: A meeting on the draft of Pakistan Oil Refinery Policy has been convened on 29th December, 2021 (Wednesday) at 12:30 p.m under the Chairmanship of Federal Minister for Energy (Petroleum Division) and Special Assistant to Prime Minister on CPEC at Ministry of Energy.
In order to sort drop in refineries run rate due to higher furnace oil inventories a new refinery policy is being finalised to shift refineries away from production of FO, says Hammad Azhar.
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National Refinery Shut Operations For Three Weeks: PSX
Few weeks ago Petroleum Division has forwarded an updated summary to CCoE which includes changes such as a 30 percent cap on the project cost instead of 40 percent, a 10 percent tariff protection for the existing refineries on motor gasoline and diesel with the construction of up-gradation projects before December 31, 2025, and abolish with recommendation of abolishing the 10-year tax holiday for existing refineries.
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