Cnergyico Pk Limited sees its anticipated investment at over $1 billion as it upgrades its refineries to produce Euro V standards-compliant gasoline and diesel.     The refinery communicated the development in a notice to the Pakistan Stock Exchange (PSX) on Friday.    Cnergyico Pk Limited  assured its commitment to upgrade both refineries to manufacture Euro V standards compliant gasoline and diesel, while concurrently reducing Fuel Oil production.Cnergyico Pk is vertically integrated across the oil refining and marketing industries and owns and operates a crude oil terminal. The company also operates Pakistan’s biggest oil refinery in terms of nameplate capacity, the largest capacity crude oil storage tanks in the country, and a network of petrol pumps.  Last month, the Cabinet Committee on Energy (CCoE) approved amendments to Refineries Policy 2023 after it resolved implementation issues of existing refineries/Brownfield Refineries, and enabled them to undertake major upgrade projects. (ICE ISLAMABAD)

Fonte notizia: business recorder