The Pakistan State Oil (PSO) is taking solid steps to efficiently meet the country’s growing energy needs by making its energy supply chain self-reliant.
Besides other initiatives, the company’s project to construct oil refinery in the district Kohat- Khyber Pakhtunkhwa with having capacity of 40,000 Barrels Per Day (BPD) would go a long way to achieve such ambitious goal, said the company’s spokesperson.
The official said the facility being constructed on about 400 acres of land would be fully commissioned by 2016-17, which would secure Pakistan’s energy supply chain. The company has already signed a Memorandum of Understanding (MoU) with Government of Khyber Pakhtunkhwa for establishment of a state-of-the-art oil refinery.
The facility would be is being set up as a part of the new vision of the company to make the leading public sector company an integrated energy company and with the determination.
As per this MoU, the project will be set-up through a public private partnership and will utilize crude oil from nearby indigenous supply sources for production of POL products conforming to Euro IV standards.
The spokesperson said establishment of this refinery will help improve the overall availability of POL products across the country as well as result in sizeable foreign exchange savings for the nation.
It shall also increase PSO’s operational base through diversification in the midstream segment and lower distribution cost in the related supply envelopes.
In addition to these benefits, this refinery will also help in creating job opportunities for local populace as well as professionals from various technical backgrounds.
It is also expected that substantial foreign direct investment will also take place as a result of this project.
The facility would be is being set up as a part of the new vision of the company to make the leading public sector company an integrated energy company and with the determination.
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