Islamabad, In a major development for Pakistan’s energy sector, oil refining company Cynergico has unveiled plans to significantly upgrade its operations in the country, aligning with international standards to produce higher-grade petrol and diesel products. The ambitious project aims to double the company’s processing capacity to 50 thousand barrels per day, a move that is expected to bolster domestic oil refining capabilities substantially.
According to Ministry of Information and Broadcasting, the upgrade, slated for completion by 2028, involves an investment of approximately one billion dollars. This initiative is set to reduce Pakistan’s reliance on furnace oil and curb the imports of costly refined oil products, promising considerable savings in foreign exchange for the country. Furthermore, the Special Investment Facilitation Council has facilitated an agreement between the government and private oil companies, smoothing the path for this significant industrial upgrade.