parco cnergyico lead
| | |

PARCO, Cnergyico lead $1bn refinery exports

Pakistan’s oil refining sector has achieved a major milestone. The country’s five major refineries exported petroleum products worth around $1.046 billion during the fiscal year 2025-26.

This is the first time that the refinery sector has crossed the $1 billion export mark. The development has also strengthened the sector’s role as a source of foreign exchange for Pakistan.

The achievement comes as the country continues to face pressure from a large trade deficit. Pakistan’s trade deficit is estimated at around $40 billion, increasing the importance of exports and import savings.

The five major refineries made a significant contribution to the overall export earnings.

Pakistan Arab Refinery Company (PARCO) recorded exports of around $277 million. Cnergyico Pakistan Limited exported petroleum products worth approximately $258 million.

National Refinery Limited (NRL) recorded exports of around $238 million. Pakistan Refinery Limited (PRL) exported products worth approximately $200 million.

Meanwhile, Attock Refinery Limited (ARL) exported petroleum products worth nearly $73 million.

PARCO and Cnergyico remained the biggest contributors. Their combined exports reached approximately $535 million. This accounts for more than half of the total exports recorded by the five refineries.

The development is particularly significant because the refining sector has traditionally been viewed mainly as a means of reducing Pakistan’s dependence on imported petroleum products.

The latest figures show that the industry is increasingly contributing to both sides of the equation. It is helping reduce the import burden while also generating foreign exchange through exports.

Cnergyico has also entered the global marine fuel market. The move could provide the company with new export opportunities and help expand Pakistan’s presence in the international fuel market.

Industry modernization is expected to further improve the sector’s performance. Upgraded refinery facilities can increase production efficiency and enable companies to produce products that meet international market requirements.

Further investment in refinery upgrades could therefore lead to higher exports in the coming years. It could also increase savings on petroleum imports.

The latest performance highlights the growing importance of Pakistan’s refining industry. With continued modernization, better efficiency and access to international markets, the sector could become an increasingly important source of foreign exchange for the country.

The development also comes at a critical time for Pakistan’s economy. Higher exports and lower import dependence are essential for reducing pressure on the country’s external account.

Similar Posts

  • |

    Michael Jackson estate wins ruling in child trafficking lawsuit

    Michael Jackson’s estate has secured a significant legal victory in a lawsuit filed by four siblings who accused the late pop icon of sexually abusing and trafficking them when they were minors. The case was brought earlier this year by siblings Edward, Dominic, Marie-Nicole and Aldo Cascio against the estate of Jackson, who died in 2009 at the age of 50. The siblings claimed that the singer had groomed and brainwashed them during their childhood and alleged that they were subjected to sexual abuse and trafficking. The Cascio siblings had a close relationship with Jackson while growing up and have previously described themselves as part of his “second family.” Their connection with the singer became the focus of legal proceedings after they made allegations against him and subsequently reached a settlement with his estate. In 2019, Jackson’s estate agreed to pay the siblings $3.5 million as part of a settlement. The agreement did not include any admission of wrongdoing by the estate or acknowledge the allegations made against the late singer. The siblings later attempted to challenge the settlement, arguing that the agreement should be declared invalid and unenforceable. They claimed they had been pressured or coerced into signing the deal and sought to pursue their allegations through the court system. However, their effort to bring the dispute before a public trial has now been rejected. On Wednesday, August 12, Judge Hernán D. Vera ruled that the legal dispute must be resolved through confidential arbitration instead of proceeding as a public court case. The decision represents a major victory for Jackson’s estate, as arbitration generally keeps legal proceedings private and limits the matter from moving forward through a public trial. According to court papers obtained by Billboard, Judge Vera acknowledged the seriousness of the allegations but concluded that the existing agreement required the dispute to be handled through arbitration. “Although the allegations are horrific, the court is without discretion to do aught but enforce the language of the arbitration clause,” the court stated. The ruling does not determine whether the allegations made by the Cascio siblings are true or false. Instead, it focuses on the legal terms of the 2019 settlement and whether the dispute must follow the arbitration provision contained in that agreement. The siblings’ allegations have nevertheless brought renewed attention to Jackson’s relationships with children and families who were close to him during his lifetime. Jackson, one of the most influential entertainers in music history, faced allegations of sexual misconduct during his career, though he consistently denied wrongdoing. The latest ruling means that the Cascio siblings’ dispute with Jackson’s estate will now continue, if at all, through a private arbitration process rather than a public courtroom trial. The outcome of that process could determine whether their challenge to the 2019 settlement has any further legal consequences.

  • | | | |

    Mohsin Naqvi begins official visit to Iran

      Federal Interior Minister Mohsin Naqvi has arrived in Iran on an official visit, where he is set to hold meetings with senior Iranian officials, according to Iranian media reports. Naqvi’s visit is expected to focus on strengthening relations between Pakistan and Iran and improving coordination on issues of mutual interest. During his stay, the interior minister will meet high-ranking Iranian officials and exchange views on matters concerning the two neighbouring countries. The visit comes amid continued diplomatic engagement between Islamabad and Tehran, with both sides seeking to enhance cooperation and maintain regular contact at the leadership and ministerial levels. Discussions during Naqvi’s meetings are likely to cover bilateral relations as well as regional developments that have implications for both Pakistan and Iran. The two countries share a long border and have close historical, cultural and economic ties, making regular coordination between their governments important. Pakistan and Iran have also been working to improve cooperation on border management and other issues affecting communities along their shared frontier. High-level visits and official meetings provide an opportunity for both sides to review progress, address outstanding concerns and explore new areas of cooperation. Iranian media said Naqvi will meet senior officials during his visit, although further details about his schedule and the specific issues to be discussed were not immediately disclosed. The minister’s visit is part of Pakistan’s broader efforts to maintain engagement with neighbouring countries and strengthen bilateral ties through diplomatic and official channels. His meetings in Tehran are expected to contribute to continued dialogue between the two countries and provide a platform for discussing matters of shared concern.

  • | | |

    Phuket Nui Beach: A Model for Thailand’s Coastal Encroachment Reform

    Phuket – The recent government-led effort to reopen public access to Nui Beach in Phuket may appear at first glance to be a local dispute over land use. Yet, the case has quickly become emblematic of a broader national challenge: how Thailand manages its natural resources, enforces the law, and protects the public’s right to […]

  • | |

    Fazlur Rehman urges dialogue to end AJK crisis

      Jamiat Ulema-e-Islam-Fazl (JUI-F) chief Maulana Fazlur Rehman has urged the federal government to address the ongoing unrest in Azad Jammu and Kashmir (AJK) through dialogue, stressing that reconciliation is the only path to a lasting solution. In a video message shared on the party’s X account on Saturday, Fazlur Rehman called on the government and state institutions to recognise the seriousness of the situation instead of responding with force. He said authorities should work to restore peace and stability rather than allowing further bloodshed. “The government and state institutions must understand the gravity of the crisis. Instead of turning our homeland into a place of violence, they should focus on healing divisions through meaningful dialogue,” he said. His remarks came after violent clashes were reported in Rawalakot between law enforcement personnel and protesters affiliated with the banned Jammu and Kashmir Awami Action Committee (JAAC). Reports circulating on social media claimed multiple casualties and injuries, with both security officials and the JAAC alleging loss of lives. Fazlur Rehman said the JAAC’s sit-in had continued for more than two months. He recalled that after tensions intensified on June 5, the committee had formally requested him to mediate between the protesters and the government. According to him, he accepted the role and remained in contact with both sides through JUI-F AJK chief Maulana Saeed Yousaf Khan and Sardar Kamran Azam Khan. The JUI-F chief expressed concern over the situation faced by residents of AJK, saying people expect their government to protect them rather than leave them living in fear. He alleged that women, children and families had endured months of insecurity while the authorities failed to address their concerns. He further claimed that force had been used against unarmed protesters and alleged that, according to the information available to him, the death toll had reached around 80 people. However, no official confirmation has been issued regarding that figure. Despite the violence, Fazlur Rehman appealed to the JAAC leadership and protesters to remain peaceful and avoid any action that could worsen the situation. He urged them to allow more time for mediation efforts, expressing hope that a fair and lasting political settlement could still be achieved. He also criticised the government’s approach, claiming that although the protesters had shown confidence in his mediation efforts, the authorities had not taken the initiative seriously and had instead relied on force rather than negotiations. Warning of wider implications, Fazlur Rehman said the movement had gained support across Kashmir as well as among Pakistanis and the Kashmiri diaspora, particularly in Europe. The recent violence has drawn condemnation from political parties and human rights organisations. The Human Rights Commission of Pakistan (HRCP) expressed deep concern over reports of deaths and injuries, stressing that maintaining law and order should never come at the expense of the right to life or the freedoms of peaceful assembly and expression. The commission called for a prompt, impartial and independent investigation into the incidents. Opposition parties, including PTI, also demanded an independent judicial inquiry into the clashes, while other political groups criticised what they described as the excessive use of force against protesters. The current dispute is linked to long-standing demands by the JAAC, which has been seeking constitutional and governance reforms in AJK. Among its key demands are the abolition of 12 reserved seats in the AJK Legislative Assembly allocated to Kashmiri refugees and the removal of the existing quota system. Although the government and the JAAC reached an agreement after protests last year to establish a high-level committee to review the issue of refugee seats, negotiations have since stalled. The JAAC continues to insist on abolishing the reserved seats, while the government remains opposed to the proposal.

  • AWC Announced Two Landmark Projects to Transform Bangkok’s Riverside

    BANGKOK– Asset World Corporation (AWC), Thailand’s leading integrated lifestyle real estate group, is pleased to announce a landmark collaboration to develop a signature project at Asiatique The Riverfront Destination. This initiative is designed to drive Thailand toward becoming a premier global sustainable tourism destination through “The World’s First Sustainable Cross-river Themed Cable Car Bangkok” and […]

Leave a Reply

Your email address will not be published. Required fields are marked *