Director General Oil (Ministry of Petroleum and Natural Resources), Abdul Jabbar Memon disclosed that Pakistan in collaboration with UAE is going to establish a state-of-the-art refinery with an estimated investment of around $5 billion at Hub, Baluchistan.
‘Pak Arab Coastal Refinery’ would have an installed capacity to refine 250,000 barrels per day crude Oil. “The country’s biggest refinery is being set up by Parco with assistance of UAE,” the DG Oil told media after a meeting of Pakistan’s oil industry representatives at Byco Petroleum Pakistan Limited refinery at Hub, Baluchistan.
The DG said that refineries established in the coastal belt of Baluchistan would enjoy a 20-year tax exemption on condition that they manage to refine over 100,000 barrels per day crude oil. The government has offered this special incentive primarily to encourage investment in the local refinery sector.
Without giving any timeframe for the work starting on the refinery, he said that practical work on the multi-billion dollar project would start soon.
Mansoor Shafique Qureshi, vice president of Operations Byco Petroleum Pakistan Limited on this occasion said that the company has commissioned a catalytic reformer at its larger oil refinery, ORC-2. The reformer has successfully commenced its operations. This will enable the Company to convert 24,000 barrels per day of Heavy Naphtha into Motor-Gasoline, as per rated capacity. At the combined current level of crude processing at both of Byco’s Oil Refining Complexes (ORC I & II), i.e. 75,000 barrels per day, the cumulative motor gasoline production has increased 5–fold from 300 tons to 1,500tons per day.
He said Byco believes in continuous improvement of its capabilities and our customers will appreciate our commitment to bringing them the best quality products.
