Attock Refinery Limited (ARL) has successfully executed an Upgrade Agreement with Inter State Gas Systems (Private) Limited (ISGS), marking an important step in the company’s plans to modernize and upgrade its existing refinery infrastructure.
In a disclosure dated September 24, 2026, Attock Refinery Limited informed the Pakistan Stock Exchange that it had completed the execution of the Upgrade Agreement with ISGS. The agreement is mandated and nominated by the Ministry of Energy (Petroleum Division) under the Pakistan Oil Refining Policy for Upgradation of Existing/Brownfield Refineries, 2023, as amended in February 2024 and August 2026.
The agreement represents a significant development in ARL’s ongoing efforts toward sustainable development and the modernization of its existing refining facilities. According to the company, the upgrade initiative is intended to improve operational efficiency, enhance product quality and help the refinery produce Euro-V standard fuels.
The company also linked the project to Pakistan’s broader energy objectives, stating that the refinery modernization would contribute toward a more sustainable and secure energy future for the country. The move reflects the continuing focus on upgrading existing brownfield refining capacity rather than relying solely on new refinery developments.
The execution of the agreement also provides a formal framework for ARL to proceed with its refinery upgrade commitments under the applicable government policy. The company requested the Pakistan Stock Exchange to inform the holders of TRE Certificates about the development.
For Attock Refinery, the agreement is therefore an important milestone in its long-term refinery modernization program, with the company highlighting improvements in infrastructure, efficiency and fuel quality as key objectives.
