Pakistan Oil Refining Policy Approved to Modernize Refineries, Boost Energy Security
Prime Minister Shehbaz Sharif approved amendments to the Pakistan Oil Refining Policy during a meeting of the Cabinet Committee on Energy on Monday. The decision aims to modernize the country’s refining sector, improve fuel quality, and strengthen energy security. Moreover, the government wants to attract fresh investment and reduce dependence on imported petroleum products. The revised policy focuses on upgrading existing brownfield refineries to meet future energy needs. It also supports the production of cleaner and environmentally friendly fuels across Pakistan.
Refinery upgrades to strengthen energy sector
The committee approved changes to help existing refineries improve their infrastructure. Prime Minister Shehbaz Sharif said refinery modernization remains essential for the country’s long-term energy security. He added that modern facilities will increase local fuel production and support economic growth.
Officials told the committee that upgraded refineries will produce Euro-IV and Euro-V standard fuels. As a result, Pakistan will reduce harmful emissions and improve air quality. The cleaner fuels will also help the country meet international environmental commitments. In addition, consumers will benefit from higher-quality petroleum products.
The prime minister also directed officials to reform the Oil and Gas Regulatory Authority (OGRA). He said the regulator must improve efficiency, encourage competition, and create a transparent business environment. Furthermore, he warned that authorities must implement the amended policy without unnecessary delays.
Government seeks investment and larger fuel reserves
Shehbaz Sharif instructed relevant ministries to work closely with all stakeholders. Therefore, they must complete reforms quickly and ensure smooth implementation. He also ordered officials to organize investment roadshows in Qatar, Saudi Arabia, and other Gulf countries. The campaign will promote the revised policy and encourage foreign investment in Pakistan’s refining sector.
The prime minister further directed authorities to expand Pakistan’s strategic petroleum reserves. He said stronger reserves will improve the country’s preparedness during supply disruptions. Finally, he praised Petroleum Minister Ali Pervaiz Malik and his team for preparing the amendments. Senior ministers and government officials attended the meeting. The government believes these reforms will modernize refineries, improve fuel quality, strengthen energy security, and create new economic opportunities for Pakistan.
