The Oil & Gas Development Authority (OGRA) has intensified efforts to finalize upgrade agreements with refineries under the Brownfield Refinery Policy.
It was disclosed at a recent OGRA hearing that four refineries will soon ink their agreements.
The meeting, attended by representatives from SIFC and refinery officials, convened to review progress on the signing of Upgrade Agreements, including Escrow Account arrangements, with brownfield refineries, reported a national daily.
Acknowledging the refineries’ commitment to policy implementation, the member (Oil) of Ogra highlighted the purpose of the meeting as discussing the status of upgrade agreements across all refineries.
Once the draft template agreements are finalized, they will be circulated to all refineries to facilitate the signing process.
The Ministry of Energy officially notified the amended oil refining policy in February 2024 following Cabinet approval, in line with recommendations from the Cabinet Committee on Energy.
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