National Refinery Limited
- Attock Refinery Limited (25%)
- Pakistan Oilfields Limited (25%)
- Islamic Development Bank (15%)
Financials as of 30 June 2023[update][1]
National Refinery Limited (NRL) (Urdu: نیشنل ریفائنری لمیٹڈ) is a Pakistani oil refinery which is a subsidiary of UK-domiciled Attock Oil Company.[2] It is based in Korangi Creek, Karachi.[3][4]
It is a petroleum refinery and petrochemical complex engaged in the manufacture and sale of asphalts, BTX, fuel products and lubes for domestic consumption and export. National Refinery Limited is the second largest capacity refinery of Pakistan in terms of crude oil processing facilities and is the only lube oil refinery of Pakistan.[4]
History
The company was incorporated in 1963 and first lube refinery was constructed in June 1966. Hydroskimming fuel refinery was commissioned in April 1977 and its capacity was increased in 1985. BTX (petrochemical) plant was constructed in April 1979 which was the first petrochemical unit of the country. Second lube refinery was constructed in February 1984. Since then various expansions of the refinery have been made.[4]
In 2005, Attock Group acquired majority shareholding of the company – with Pakistan Oilfields and Attock Refinery Limited both holding 25 percent shares each. Islamic Development Bank of Saudi Arabia holds 15 percent of the total shares.[4]
Business relationships
The company's major purchases are made from Saudi Aramco, an oil company based in Saudi Arabia, with a history of no default up to the financial year ending 30 June 2011. Crude oil is also received on a regular basis from the domestic oil companies in Pakistan. The State Bank of Pakistan acts as the sovereign guarantor of payments made on time between the National Refinery Limited and the Saudi oil company Saudi Aramco.
In 2017, the Supreme Court of Pakistan imposed fines on National Refinery Limited for missing its due payments to the crude oil supplier Saudi Aramco which then State Bank of Pakistan had to step in and make those payments in the form of foreign currency.[5]
Business segments
Fuel segment
Fuel segment offers:
- Motor gasoline[4][6]
- High speed diesel (HSD)[4][6]
- Light diesel oil
- Kerosene oil[4][6]
- Jet fuels
- Furnace oil[4][7]
- Liquefied petroleum gas (LPG)[4][6]
- Naptha for domestic consumption and export purposes[4][6]
Lube segment
- Many types of lube base oils
- Asphalts
- Waxes and rubber process oil
- Specialty products - Benzene, Toluene, Xylene, Wax, Slackwax and Extract Oil
References
- ^ "National Refinery Limited Annual Report 2023". Retrieved 1 August 2024.
- ^ "National Refinery Limited shareholding pattern".
- ^ Hussain, Dilawar (1 September 2020). "When refineries go underwater". DAWN.COM.
- ^ a b c d e f g h i j "Profile of National Refinery Limited". Business Recorder. 31 January 2019.
- ^ Supreme Court orders National Refinery to pay Rupees305 million to State Bank of Pakistan Dawn , Updated 16 May 2017, Retrieved 17 September 2020
- ^ a b c d e Profile of National Refinery Limited on MarketScreener.com website Retrieved 17 September 2020
- ^ Furnace oil glut dents profits of refineries The Express Tribune, Published 22 January 2020, Retrieved 17 September 2020
External links
- National Refinery Limited
- v
- t
- e
- Abbott
- Adamjee Insurance
- AGP Limited
- Allied Bank
- Askari Bank
- Attock Petroleum
- Attock Refinery
- Avanceon
- Bank AL Habib
- Bank Alfalah
- Bank of Punjab
- BankIslami
- Bannu Woollen Mills
- Bestway Cement
- Century Paper
- Cherat Cement
- Cnergyico
- Colgate-Palmolive Pakistan
- Dawood Hercules
- DG Cement
- Dolmen City REIT
- EFU General Insurance
- Engro Corporation
- Engro Fertilizers
- Engro Polymer
- Fatima Fertilizer
- Fauji Cement
- Fauji Fertilizer Company
- Fauji Fertilizer Bin Qasim
- Faysal Bank
- First Habib Modarba
- FrieslandCampina Engro Pakistan
- Gadoon Textile Mills
- Ghani Glass
- GSK
- HBL
- HabibMetro
- Habib Sugar Mills
- HBL Growth Fund
- Highnoon
- Hubco
- Ibrahim Fibre
- Indus Motor Company
- Interloop Limited
- International Industries Limited
- International Steels Limited
- Javedan
- K-Electric
- Kohat Cement
- Kohinoor Textile
- Kot Addu Power
- Lotte Chemical
- Lucky Cement
- Lucky Core Industries
- Maple Leaf Cement
- Mari Petroleum
- MCB Bank
- Meezan Bank
- Millat Tractors
- Mughal Steel
- Murree Brewery
- National Bank
- National Foods
- National Refinery
- Nestlé Pakistan
- Nishat Chunian Power
- Nishat Chunian
- Nishat Power
- OGDC
- Packages Limited
- PEL
- Pak-Gulf Leasing
- Pakgen Power
- Pakistan Aluminium Beverage Cans
- PIBTL
- Pakistan Oilfields
- Pakistan Refinery
- Pakistan Petroleum
- Pakistan Services
- Pakistan State Oil
- Ptcl
- Pakistan Tobacco Company
- Pioneer Cement
- Punjab Oil Mills
- Rafhan Maize
- Saif Power
- Searle Pakistan
- Service
- Shell
- Shifa
- Standard Chartered
- SNGPL
- Systems Limited
- Tariq Glass
- Thal Limited
- TRG Pakistan
- Unilever Pakistan Foods
- United Bank
- Unity Foods
- Yousuf Weaving Mills