Attock Refinery Limited, a company owned by Attock Oil Company Limited, plans to build a new refinery that can process 50,000 barrels of oil per day, according to its yearly report released Monday.
The company is an important part of Pakistan’s oil industry.
Attock Refinery said it will build the new deep-conversion refinery only if two things happen: it can get a steady supply of local crude oil from the north, and the government gives it the support it needs.
The company also said it faces a big challenge in upgrading its current plants to make fuel that meets Euro-V standards, which are stricter rules for cleaner fuel.
To fix this, the company has made a plan. It will set up a new unit called a Continuous Catalyst Regeneration unit. This will help it make more petrol and raise the quality of its petrol so it meets Euro-V standards. It will also stop using certain additives to boost octane and stop exporting naphtha.
The company will also upgrade another unit, called DHDS, to reduce the sulphur in diesel to 10 parts per million.
Attock Refinery said it has finished the early design studies for these projects, which will cost about $600 million.
The contract for the design work and project management was given to an Italian company called Studi Technologie Progetti SpA. The company said about 90% of the design work is now complete.
Attock Refinery also said it paid 156 billion rupees in taxes and duties to the government this year. It saved $167.13 million in foreign exchange by making products locally instead of importing them and by exporting.
The company was formed in Pakistan on Nov. 8, 1978, as a private company and became a public company on June 26, 1979. Its main business is refining crude oil.
