National Refinery Limited held a corporate briefing session outlining operational and financial highlights for the year ending June 2026, discussing challenges faced and future strategies.
- Established in 1963, NRL operates a refinery complex with a crude oil refining capacity of 70,000 Bbl per day.
- The session highlighted the impact of geopolitical events, particularly the US-Iran war, which led to significant operational challenges and increased costs.
- Crude oil prices peaked at ~$167/Bbl in March 2026, causing inventory losses of PKR 7 billion by year-end.
- The government approved an amended Brownfield Policy in August 2026, which NRL plans to leverage for future growth.
- NRL aims to optimize crude mix and increase production of High-Speed Diesel (HSD) and Premium Motor Gasoline to meet local demand.
- The company is also exploring crude procurement from non-GCC regions to ensure supply continuity.
- Future projects include an upgrade agreement with Inter State Gas Systems, with a feasibility study expected by June 2027.