Wednesday, April 24 2024

ARL cuts output to 33% as smuggling bites
Attock Refinery Limited (ARL) has become the first victim of smuggled petroleum products as the refinery on Monday shut down its main distillation unit, reducing its capacity to only 33%, owing to the piling up of unsold diesel stocks. Oil industry sources warned that other refineries were also likely to close their units if the unbridled smuggling of petroleum products was not stopped. Oil smuggling into Pakistan has continued unabated and this oil is now available across the country. Industry officials said that smuggling and proposals of price deregulation without consultation with all stakeholders may put plant upgrade plans of refineries in jeopardy. For upgrading, they were expected to bring investments of $5-6 billion on the back of recent approval of a new policy.
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