NRL refutes reports of operations shutdown

KARACHI: The National Refinery Limited (NRL) has not halted its operations but only the fuel refinery has been shut down due to schedule turnaround, a bourse filing said on Tuesday.

“With reference to the news circulating in print and electronic media regarding shut down of [the] National Refinery Limited due to accumulation of [the] furnace oil stock, we wish to clarify that only the fuel refinery of the company has been shut down due to schedule turnaround (as already mentioned in the Annual Report 2021) for around (3) weeks and lube refineries under normal operations,” the bourse filing said.

Earlier, it was reported that due to the furnace oil stocks piling up at refineries, the situation is getting aggravated due to the lack of buying from independent power producers (IPPs), which led to the shutdown of the NRL operations.

The Pakistan Refinery Limited (PRL) and Cnergyico Pk Limited (formerly Byco) have already closed their operations on high fuel oil inventories.

PRL in December, shut down its operations temporarily due to the dwindling demand for fuel oil; followed by Cnergyico two days later.

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