National Refinery Limited

Company Registration Number 0001747 NTN-No 0711325-7

National Refinery Limited ( NRL ) was incorporated on August 19, 1963 as a public limited company. Government of Pakistan took over the management of NRL under the Economic Reforms Order, 1972 under the Ministry of Production, which was exercising control through its shareholding in State Petroleum Refining and Petrochemical Corporation (PERAC).

Intorduction

The management of the Company was taken over by the (Attock) Pharaon Group in Pakistan on July 7, 2005 from Government of Pakistan. The investment of the Pharaon Group in Pakistan have over the past decade achieved phenomenal expansion as a result of which it has not only become the largest stakeholder in the oil and gas sector of the country.

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News


• August 15, 2018 : The Board of Directors of the Company in its meeting held on August 14, 2018 has recommended for final cash dividend @ Rs.10/= per share i.e., 100% for the year ended June 30, 2018.

• August 15, 2018 : The Annual General Meeting of National Refinery Limited is scheduled to be held on October 18, 2018 at 1430 hours at Marriott Hotel, Karachi.

• March 8, 2018 : We are pleased to inform that National Refinery Limited (the Company) has entered into an agreement with M/s. HUALU of China and signed Engineering, Procurement, Construction and Commissioning (EPCC) contract for Revamp of Two-Stage Distillation Unit at Lube-I Refinery. With the contract value of US$ 8.429 million, the total estimated project cost is Rs.1.329 billion approximately. The funding of the project will be arranged by company’s own resources and the said project is expected to be completed in eighteen months. The Revamp Project aims to increase Company’s crude oil processing capacity by 5,000 barrels per day and LBO production by 6,000 M. Tons per year.

• November 23, 2017 : We are pleased to inform our shareholders that dividend warrants in respect of NRL Final Cash Dividend (D-70) for the year ended June 30, 2017 at the rate of Rs. 22.50/- per ordinary share of Rs. 10/- each i.e. 225%, have been dispatched through registered post or courier service to all the entitled shareholders - i.e. shareholders whose names were appearing in the Register of Members of the Company as on October 18, 2017.

• October 10, 2017 : With immense pleasure it is to inform that NRL Isomerization Unit (PENEX) and its Auxiliary Units (Naphtha Splitter and Naphtha Hydrotreater) have successfully commenced operations. Completion of Isomerization Unit has enabled the refinery to increase the production of 90 RON Motor Gasoline from 156,000 MT per year to 292,000 MT per year.

The Company has reduced its Projects financing facility with consortium of banks from Rs. 24.2 billion to Rs. 12.1 billion as most of the project is financed by company’s own resources.

The shareholders in the Annual General Meeting held on September 26, 2016 has approved transmission of Audited Financial Statements, auditors' report and directors' report etc. (i.e., Annual Report) in soft form i.e., through CD/DVD/USB as allowed by the Securities and Exchange Commission of Pakistan (SECP) through S.R.O. 470(I)2016 dated 21-05-2016. However, those members/shareholders of the Company who desire to opt for transmission of annual report in printed hard copy form may send their request providing requisite information in the prescribed form as available on the website under 'investor's information' section.
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