Karachi December 16 2021: Due to operational and ullage constraints, Pakistan Refinery Limited shut down its refinery operations from today until the situation improves according to information shared by the company with investors.
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Stock drops approximately two percent after the announcement to trade at PKR 12.63 at Pakistan Stock Exchange.
Pakistan Refinery Limited (PRL) was incorporated in Pakistan as a Public Limited Company in May 1960 and is quoted on the Pakistan Stock Exchange. The Refinery is situated on the coastal belt of Karachi, Pakistan. PRL is a hydro skimming refinery designed to process various imported and local crude oil to meet the strategic and domestic fuel requirements of the country. The Refinery has a capacity of processing approximately 50,000 barrels per day of crude oil into a variety of distilled petroleum products such as Motor Gasoline, High Speed Diesel, Furnace Oil, Jet Fuels, Kerosene Oil and Naphtha.
The Refinery is operating at two locations – the main processing facility is located at Korangi Creek with supporting crude berthing and storage facility at Keamari.
PRL since inception has been the principal manufacturer and supplier of petroleum products to the domestic market and Pakistan defence forces. It continues to serve the energy needs of the country with professional excellence and high degree of commitment. PRL takes pride in the edge it enjoys over its competitors in respect of efficiency, lower operating cost, high quality human resources, reliability and introduction of newer generation technologies.
