Pakistan Refinery to double it’s refining capacity

[ghazi52]

Pakistan Refinery to double it’s refining capacity


DUBAI: Pakistan Refinery Limited (PRL) is in talks with international banks over a potential syndicated loan, bankers involved in the discussions said.

The loan proceeds will be used to double Pakistan Refinery’s refining capacity, they said.

The company did not immediately respond to a request for comment.

Talks are at an early stage, the bankers said, with one of them saying that that no mandate has been awarded yet.

Pakistan Refinery was incorporated as a public limited company in 1960. It has a processing capacity of 47,000 barrels per day of crude oil.

 

[Hurshid Celebi]

Is it that project

http://www.haberler.com/abu-dabi-den-pakistan-a-5-milyar-dolarlik-rafineri-haberi/

Abu Dabi will invest 5 BIO USD in Pakistan and refining capacity will grow to 500.000 barrels a day .

 

[ali_raza]

good news.but keeping in view of next door reliance refineries we should give them some competition

 

[coffee_cup]

Why do I smell huge kick backs and corruption in this?

Excuse me if am being skeptic here, I have seen too much...

 

[ghazi52]

Is it that project

http://www.haberler.com/abu-dabi-den-pakistan-a-5-milyar-dolarlik-rafineri-haberi/

Abu Dabi will invest 5 BIO USD in Pakistan and refining capacity will grow to 500.000 barrels a day .

No.
That is for Pak-Arab Refinery to be built at Hub.

Why do I smell huge kick backs and corruption in this?

Excuse me if am being skeptic here, I have seen too much...

Pakistan Refinery is private.

 

[Samina Bukhari]

If we strong our self for right and strongly do positive then must be change

 

[niaz]

Pakistani refinery which began operation in 1962 was built by a consortium of Esso, Burma Shell and Caltex with 40% shareholding belonging to Pakistani financiers. I knew the refinery quite until 1970’s and also its early General Managers. I even had the honour of meeting its Chairman, the late Amir Ali Fancy a couple of times. It was him that first told me detail of Quaid e Azam’s Ismaili origins and his later conversion to the Athna Ashaari Shia.

Pakistan Refinery is a simple hydro-skimming unit which began operations in 1962. Only Hydrogen it produces comes from the small Platformer and it has no capacity to hydro-desesulphurize gas oil (Diesel). CDU (Crude distillation unit) originally designed for 40 KK bbl per of 34 API Agha Jhari crude has since been de- bottlenecked to may be 45 K bbl per day thruput. Nevertheless it has been operating for 54 years and well past its “sell by” date.

Most of the current PRL units should be scrapped and replaced by brand new units so that it can serve the country for another 50 years. This news if true is music to my ears.

 

[ali_raza]

Pakistani refinery which began operation in 1962 was built by a consortium of Esso, Burma Shell and Caltex with 40% shareholding belonging to Pakistani financiers. I knew the refinery quite until 1970’s and also its early General Managers. I even had the honour of meeting its Chairman, the late Amir Ali Fancy a couple of times. It was him that first told me detail of Quaid e Azam’s Ismaili origins and his later conversion to the Athna Ashaari Shia.

Pakistan Refinery is a simple hydro-skimming unit which began operations in 1962. Only Hydrogen it produces comes from the small Platformer and it has no capacity to hydro-desesulphurize gas oil (Diesel). CDU (Crude distillation unit) originally designed for 40 KK bbl per of 34 API Agha Jhari crude has since been de- bottlenecked to may be 45 K bbl per day thruput. Nevertheless it has been operating for 54 years and well past its “sell by” date.

Most of the current PRL units should be scrapped and replaced by brand new units so that it can serve the country for another 50 years. This news if true is music to my ears.

sir what are our true potential in oil and gas sector.do we have any future

 

[niaz]

sir what are our true potential in oil and gas sector.do we have any future

Pakistan ever coming up with exportable crude reserves such as those of the Middles East? Highly unlikely, because most of the large on-shore reservoirs (5-billion barrels or more) have already been found. Off-shore reserves are a possibility but not a probability. However Pakistan could maintain the current level of about 100 K bbl. per day crude production by constantly finding new small reservoirs to replace the ones being depleted.

Pakistan has some gas reserves and even more shale & tight gas reserves which could be exploited should the oil prices again creep towards $80 per bbl or more. This is one sector where concentrated efforts are badly needed. All gas production has some associated Condensate production which can be refined to produce motor gasoline, kerosene and gasoil.

From the security point of view it does not matter whether you import crude or refined products as effects of disruption of supplies in either case would be the same. These days most of the new refinery projects are being set up at the crude producing locations with countries importing refined products rather than crude.

Pakistan is located so near the Middle East that it would be difficult for India to completely stop the supplies of crude or products to Pakistan unless the exporting nations decide to ban it themselves. Nevertheless without oil you cannot fight a war. Therefore Pakistan needs some refining capacity; say about 250 to 300 K bbl. per day within the country so that in case of emergency, essential services can be maintained from the indigenous production and imported crude reserves. Deficit refined products to be imported as in case of rest of the world. During my days, it was required by the oil companies to hold a minimum of 3-week’s reserve. No longer, since days of high prices within the country reserves are less than one week, this is a very dangerous situation, but we have democracy now and more important to have grandiose projects. Opposition also concerned more with the rallies and ‘Dharnas’, why bother with the mundane issues such as strategic oil reserves?

Petroleum industry has many facets such as exploration, refining, bulk storage and the retail distribution. Pakistan will never be Saudi Arabia in terms of production and or refining; Singapore or Rotterdam or Fujairah in terms of bulk storage. But future of the retail distribution of oil & gas industry in Pakistan is very bright.

 

[ali_raza]

Pakistan ever coming up with exportable crude reserves such as those of the Middles East? Highly unlikely, because most of the large on-shore reservoirs (5-billion barrels or more) have already been found. Off-shore reserves are a possibility but not a probability. However Pakistan could maintain the current level of about 100 K bbl. per day crude production by constantly finding new small reservoirs to replace the ones being depleted.

Pakistan has some gas reserves and even more shale & tight gas reserves which could be exploited should the oil prices again creep towards $80 per bbl or more. This is one sector where concentrated efforts are badly needed. All gas production has some associated Condensate production which can be refined to produce motor gasoline, kerosene and gasoil.

From the security point of view it does not matter whether you import crude or refined products as effects of disruption of supplies in either case would be the same. These days most of the new refinery projects are being set up at the crude producing locations with countries importing refined products rather than crude.

Pakistan is located so near the Middle East that it would be difficult for India to completely stop the supplies of crude or products to Pakistan unless the exporting nations decide to ban it themselves. Nevertheless without oil you cannot fight a war. Therefore Pakistan needs some refining capacity; say about 250 to 300 K bbl. per day within the country so that in case of emergency, essential services can be maintained from the indigenous production and imported crude reserves. Deficit refined products to be imported as in case of rest of the world. During my days, it was required by the oil companies to hold a minimum of 3-week’s reserve. No longer, since days of high prices within the country reserves are less than one week, this is a very dangerous situation, but we have democracy now and more important to have grandiose projects. Opposition also concerned more with the rallies and ‘Dharnas’, why bother with the mundane issues such as strategic oil reserves?

Petroleum industry has many facets such as exploration, refining, bulk storage and the retail distribution. Pakistan will never be Saudi Arabia in terms of production and or refining; Singapore or Rotterdam or Fujairah in terms of bulk storage. But future of the retail distribution of oil & gas industry in Pakistan is very bright.

thats very detailed answer thanks dear.but do we have any monopoly over afganistan in oil sector.or any other stan nation

 

[xyxmt]

Why do I smell huge kick backs and corruption in this?

Excuse me if am being skeptic here, I have seen too much...

you have diamy Corruption Nazla, there is nothing wrong with it.

 

[niaz]

thats very detailed answer thanks dear.but do we have any monopoly over afganistan in oil sector.or any other stan nation

No single country can boast monopoly of oil supplies. Afghanistan has major land connections with Iran and can import oil products from there. Theoretically, Afghanistan could also import oil from Turkmenistan, Tajikistan & Uzbekistan and even Azeri products could come across the Caspian Sea to the North East Iran and onward to Afghanistan.

However most likely routes will remain Pakistan & Iran.

 

[ali_raza]

No single country can boast monopoly of oil supplies. Afghanistan has major land connections with Iran and can import oil products from there. Theoretically, Afghanistan could also import oil from Turkmenistan, Tajikistan & Uzbekistan and even Azeri products could come across the Caspian Sea to the North East Iran and onward to Afghanistan.

However most likely routes will remain Pakistan & Iran.

and do u think china is seriously thinking about having a pipeline through pakistan

 

[niaz]

sorry I have no idea.

 

[H!TchHiker]

Pakistan Refinery to double it’s refining capacity


DUBAI: Pakistan Refinery Limited (PRL) is in talks with international banks over a potential syndicated loan, bankers involved in the discussions said.

The loan proceeds will be used to double Pakistan Refinery’s refining capacity, they said.

The company did not immediately respond to a request for comment.

Talks are at an early stage, the bankers said, with one of them saying that that no mandate has been awarded yet.

Pakistan Refinery was incorporated as a public limited company in 1960. It has a processing capacity of 47,000 barrels per day of crude oil.

How come the loan proceed will be utilized to double Pakistan Refinery’s refining capacity,i have doubts . Company with 6 billion negative equity reduced to 4 billion after right issue that generated Rs2.80 billion in equity to have enough funds for working capital and reduced the negative equity.PRL has just increased in the year 2016 it RF facility from 8.1 billion to 8.6 billion.
Emphasis paragraph by the PWC (Auditors) regarding Going concern has been included in Auditors report.

Company upgraded project
Upgrade Project will help to pave the way for sustained profitability by altering the production slate towards increased production of higher margin products ( This is the main point here) and thereby justifying the investment.

No where the company is intended to double the production. Neither PSO nor Total PARCO the main customers,has made any new agreement with PRL that give any indication.

May be the news is true , but i have doubts . Lets see who will play with this twisting .Brokerage houses will make you publish any news in any newspaper.No body can touch JS,AKD,MM.