Tag: ARL

Attock Refinery Limited Delays Maintenance Shutdown Following Regulatory Advice

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New-ARL

Attock Refinery Limited announced on Monday that it has postponed the scheduled month-long closure of certain units for maintenance by a week. Originally planned to begin on February 10, the annual turnaround will now commence on February 18, as per the company’s notice to the Pakistan Stock Exchange. The decision to delay the maintenance shutdown was made in response to advice from the Oil and Gas Regulatory Authority (OGRA). This adjustment aims to minimize the overlap with another refinery’s shutdown and ensure uninterrupted petroleum product supplies. Maintenance shutdowns are crucial…

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Attock Refinery Limited (ATRL) has posted a substantial increase in its earnings for the first half of fiscal year 2024 (1HFY24), reporting a profit after tax of Rs17.56 billion [EPS: Rs164.7].

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New-ARL

This compares to a profit of Rs15.91 billion [EPS: Rs149.21] in the same period last year. The Board of Directors (BoD) has also declared an interim cash dividend of Rs2.50 per share (25%) for the review period. The company’s top line witnessed an 18.12% YoY surge to Rs270.29 billion compared to Rs228.83 billion in the same period last year. Despite a significant increase in taxes, duties, levies, and price differentials towards sales, the net revenue reached Rs205.96 billion, reflecting growth from the Rs189.03 billion recorded in 1HFY23. The gross profit…

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Cabinet Committee on Energy Approves Amendments to Refineries’ Policy

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Parco-board

In a significant development, the Cabinet Committee on Energy (CCoE) has greenlit amendments to the Brownfield Refineries’ Policy, addressing the key demands of private sector oil refineries. The revised policy mandates existing refineries to upgrade within six years to produce Euro-V petrol and diesel, with minimal production of low-quality fuels like furnace oil. During the meeting chaired by Minister for Petroleum and Power Muhammad Ali, four major demands of private sector refineries—Attock, National, Pak-Arab, and Cynergico—were accepted, ending the stalemate in implementing the refining policy since its notification on August…

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ARL plans shutdown for maintenance

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New-ARL

KARACHI: Attock Refinery Ltd (ARL) is planning the refinery turnaround to carry out essential maintenance from Feb 10 for about a month. In a stock filing on Friday, the company said some of the existing units of the refinery would be shut down which would result in a reduction of the refinery’s throughput to around 40pc. Atlas Honda profit surges: Amid a turbulent 2023 for the entire auto sector and multiple price increases, Atlas Honda Ltd (AHL) profit surged 78.57 per cent to Rs2.5 billion during the quarter ending December…

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ARL shuts down two plants as OMCs snub local products

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New-ARL

KARACHI/ISLAMABAD: Attock Refinery Limited (ARL) has shut down two of its crude distillation plants due to reduced off-take of finished products by oil marketing companies (OMCs), raising concerns about gas shortages during the winter peak, officials said on Monday. The company’s decision follows reported inaction by the Oil and Gas Regulatory Authority (OGRA) and senior officials in the Petroleum Division against OMCs allegedly favoring imported products over ARL’s locally produced POL (petroleum, oil, and lubricants) products in key markets like Khyber Pakhtunkhwa, the northern areas, and the Potohar region. “The…

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