Key Takeaways
- Cnergyico Pk Limited and Attock Refinery Limited signed agreements with Inter State Gas Systems (ISGS) for refinery upgrades.
- The agreements are part of the government’s Pakistan Oil Refining Policy for Upgradation of Existing/Brownfield Refineries, 2023.
- The policy aims to modernize refineries, improve fuel quality, and increase domestic production.
Cnergyico Pk Limited and Attock Refinery Limited have signed agreements with Inter State Gas Systems (ISGS) to upgrade their existing refineries, as part of the government’s Pakistan Oil Refining Policy for Upgradation of Existing/Brownfield Refineries, 2023.
Cnergyico Pk Limited signed its Upgradation Agreement with ISGS on September 24, following approval by the Economic Coordination Committee (ECC) of the Cabinet, as amended in August 2026.
ISGS has been nominated as the implementation entity on behalf of the Petroleum Division, and the agreement covers the implementation of Cnergyico’s approved refinery upgradation project.
Attock Refinery Limited also signed an Upgradation Agreement with ISGS, which was mandated and nominated by the Ministry of Energy’s Petroleum Division under the same policy.
Attock Refinery stated that the agreement marks a significant milestone in its efforts to modernize and upgrade its existing refinery infrastructure, enhance operational efficiency, and improve product quality.
The company aims to produce Euro V standard fuels and contribute to a more sustainable and secure energy future for Pakistan.
Cnergyico’s signing ceremony was held in Islamabad and attended by government representatives and participating refineries.
The government introduced the policy in 2023 to modernize the country’s existing refineries, improve fuel quality, and increase domestic production of petrol and diesel while reducing furnace oil output.
The policy was amended in 2024 and again in August 2026, with the upgrade agreements now expected to unlock around $6 billion in investment across Pakistan’s five major refineries.
