Pakistan Refinery Limited

Pakistani oil refinery

Pakistan Refinery Limited

Trade name

| PSX: PRL
KSE 100 component
KSE 30 component
Company type| Public
Industry| Petroleum
Founded| 1960; 64 years ago (1960) in Karachi, Pakistan
Headquarters| Karachi, Pakistan

Area served

| Pakistan

Key people

| Zahid Mir (CEO) in 2019
Revenue|  Rs. 261.860 billion (US$910 million) (2023)

Operating income

|  Rs. 7.448 billion (US$26 million) (2023)

Net income

|  Rs. 1.825 billion (US$6.3 million) (2023)
Total assets|  Rs. 105.472 billion (US$370 million) (2023)
Total equity|  Rs. 25.357 billion (US$88 million) (2023)
Owner| Pakistan State Oil (63.56%)

Number of employees

| 284 (2023)
Parent| Pakistan State Oil
Subsidiaries| Pak Grease Manufacturing Company Limited (27.26%)
Website| prl.com.pk
Footnotes / references
Financials as of 30 June 2023[update] [1]

Pakistan Refinery Limited (PRL) (Urdu: پاکستان ریفائنری) is a Pakistani oil refinery based in Karachi.[2] Founded in May 1960, it is traded on the Pakistan Stock Exchange.[3][4][5]

## History

[edit]

Soviet Union in the early 1960s offered to assist Pakistan in constructing an oil refinery, with the condition that the facility would exclusively process oil imported from the Soviet Union.[6] In response, the Government of Pakistan approached private sector companies operating in the country, including Shell Pakistan and Esso, proposing a joint venture to build a refinery in Karachi.[6] The private companies, seeking to protect their profits from oil imports, agreed to the government's proposal as an alternative to accepting the Soviet offer.[6] The resulting complex, named Pakistani Oil Refinery, commenced operations in 1964.[6] It was inaugurated by Muhammad Ayub Khan, then President of Pakistan. The design capacity of the refinery was 1 million tons of crude oil per annum but was increased to 2.1 million tons per annum later.[4][3]

## Products

[edit]

Pakistan Refinery refines and sells petroleum products. It has a capacity of refining 47,000 barrels per day of crude oil into a range of petroleum products. The refinery produces high speed diesel, furnace oil, motor spirit, Naphtha, kerosene, jet fuels and liquified petroleum gas. All the products are sold locally except for naphtha which is exported. Using its distribution network at Keamari, the finished products are supplied by the company to oil marketing companies of Pakistan - Shell Pakistan, Pakistan State Oil and Total Parco.[4]

## See also

[edit]

* Pakistan portal
* Energy portal

* List of oil refineries
* PARCO Coastal Refinery

## References

[edit]

1. ^ "Pakistan Refinery Limited Annual Report 2023". Retrieved 22 May 2024.
2. ^ Hussain, Dilawar (1 September 2020). "When refineries go underwater". DAWN.COM.
3. ^ a b Profile of Pakistan Refinery Limited on Business Recorder (newspaper) Published 14 February 2017, Retrieved 15 September 2020
4. ^ a b c Profile and business summary of Pakistan Refinery Limited on MarketScreener.com website Retrieved 15 September 2020
5. ^ Profile and stock quote of Pakistan Refinery Limited on Wall Street Journal website Retrieved 15 September 2020
6. ^ a b c d "Pakistan State Oil history".

## External links

[edit]

* Pakistan Refinery Limited - official website

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