Attock Refinery Limited (ATRL), a subsidiary of Attock Oil Company Limited, announced a month-long closure of some of its refinery’s units from February 10, 2024.
ATRL shared the development in a notice to the Pakistan Stock Exchange (PSX) on Friday.
“We wish to inform you that ATRL is planning the refinery turnaround to carry out essential maintenance with effect from February 10, 2024, for about a month period,” read the notice.
“Consequently, some of the existing units of the refinery will be shut down which will result in reduction of the refinery’s throughput to around 40%,” it said.
ATRL shared that the shutdown plan has received approval from the Ministry of Energy (Petroleum Division) and Oil and Gas Regulatory Authority (OGRA). The authorities “have made alternate arrangements to handle crude oil production from northern oilfields and to meet any product shortfall”.
Last month, ATRL announced the shutting of its crude distillation units temporarily citing a depressed dispatch pattern.
Back then, the listed company warned that if the situation persists it “would result in curtailment of crude intake from oilfields with an adverse effect on associated gas as well”.
Attock Refinery was incorporated in Pakistan on November 8, 1978, as a private limited company and was converted into a public company on June 26, 1979. It is principally engaged in the refining of crude oil.
The company is a subsidiary of the Attock Oil Company Limited, England and its ultimate parent is Coral Holding Limited (a private limited company incorporated in Malta).
As per the company’s latest financial results, ATRL saw its profit-after-tax (PAT) jump nearly 64%, clocking in at Rs12.30 billion for the period ended September 30, 2023.
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