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The NRL denies that activities have been halted

KARACHI: According to a bourse filing on Tuesday, the National Refinery Limited (NRL) has not ceased operations, but only the gasoline refinery has been shut down owing to a scheduled turnaround.

“With reference to the news circulating in print and electronic media regarding the shutdown of [the] National Refinery Limited due to the accumulation of [the] furnace oil stock, we wish to clarify that only the company’s fuel refinery has been shut down due to scheduled turnaround (as already mentioned in the Annual Report 2021) for around (3) weeks, and the lube refineries are under normal operations,” the bourse filing said.

Also read: The duty on petroleum development has been increased to Rs9.62 per litre

Earlier, it was reported that due to the furnace oil stocks piling up at refineries, the situation is getting aggravated due to the lack of buying from independent power producers (IPPs), which led to the shutdown of the NRL operations.

The Pakistan Refinery Limited (PRL) and Cnergyico Pk Limited (formerly Byco) have already closed their operations on high fuel oil inventories.

PRL in December, shut down its operations temporarily due to the dwindling demand for fuel oil; followed by Cnergyico two days later.

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