--- title: "Four oil refineries sign upgrade agreements" description: "Most outlets led with the announcement that four of Pakistan’s five oil refineries signed formal agreements with the government for modernisation, highlighting the estimated USD 6 billion investment over five years. Business Recorder and Geo News both noted the key refineries involved and the scale of the investment, with Geo News also referencing a specific location and image related to one of the refineries." url: https://harzaviya.com/stories/10365-pakistan-s-three-major-refineries-ink-upgrade-agreements site: HarZaviya language: en --- # Four oil refineries sign upgrade agreements business · updated 25 Sep 2026, 3:58 PM PKT · 24–25 Sep 2026 · 15 articles from 10 outlets over 2 developments ## How it developed Newest development first. Each carries its own coverage and, where we have one, our summary of it. ### 25 Sep 2026 — Four oil refineries sign upgrade agreements (3 outlets) > Most outlets led with the announcement that four of Pakistan’s five oil refineries signed formal agreements with the government for modernisation, highlighting the estimated USD 6 billion investment over five years. Business Recorder and Geo News both noted the key refineries involved and the scale of the investment, with Geo News also referencing a specific location and image related to one of the refineries. - **Minute Mirror** — [Refineries sign $6bn upgrade agreements](https://minutemirror.com.pk/refineries-sign-6bn-upgrade-agreements-635318/) · 25 Sep 2026, 3:58 PM PKT > Pakistan’s major oil refineries have signed agreements with government-nominated Inter State Gas Systems (ISGS) to begin plant upgrades under the new refinery policy, - **Geo News** — [Pakistan refineries sign long-awaited $6bn modernisation agreements](https://www.geo.tv/latest/683596-pakistan-refineries-sign-long-awaited-6bn-modernisation-agreements) · 25 Sep 2026, 10:29 AM PKT · 75% identical wording to the newest filing > Cnergyico Pk Limited refinery plant and crude oil storage tanks at the Hub coast in Balochistan province, March 18, 2026. — AFPARL, NRL, Cnergyico and PRL sign refinery agreements.Parco is expected to sign refinery upgrade agreement soon.Projects could save $1.5bn annually in foreign... - **Business Recorder** — [Four oil refineries sign upgrade agreements](https://www.brecorder.com/news/40441164/four-oil-refineries-sign-upgrade-agreements) · 25 Sep 2026, 5:39 AM PKT · 83% identical wording to the newest filing > ISLAMABAD/ KARACHI: Four of Pakistan’s five local oil refineries signed formal upgrade agreements with the government on Thursday, paving the way for an estimated USD 6 billion investment over the next five years. The multi-billion-dollar upgrades, initiated by Petroleum Minister Ali Pervaiz Malik, aim to modernise the domestic refining sector and strengthen the country’s long-term energy secur... ### 24 Sep 2026 — Pakistan refineries sign agreements for major upgrade deals (9 outlets) > Most outlets reported that Pakistan’s major refineries signed agreements with the government for a large-scale modernisation plan, with several noting the estimated investment of $5–6 billion and the goal of producing higher-quality fuels. Some highlighted the number of refineries involved, with a few mentioning four instead of three. A few outlets also noted the amended brownfield policy and the approaching October 1 deadline. The involvement of the state-owned gas company, Inter State Gas Systems (ISGS), was mentioned in several reports, while others focused more broadly on the government entity. - **The Nation** — [7-year deadlock ends as 4 refineries sign upgradation agreements with govt](https://www.nation.com.pk/25-Sep-2026/7-year-deadlock-ends-4-refineries-sign-upgradation-agreements-govt) · 25 Sep 2026, 4:08 AM PKT > ISLAMABAD - Ending a nearly seven-year deadlock, four of the country’s five refineries have signed upgradation agreements with the government to produce cleaner fuels and enhance output, with an estimated investment of $5 billion. - **Daily Times** — [Pakistan refineries sign agreements to advance $6 billion upgrade plan](https://dailytimes.com.pk/1557939/pakistan-refineries-sign-agreements-to-advance-6-billion-upgrade-plan/) · 25 Sep 2026, 4:06 AM PKT · 78% identical wording to the newest filing > Pakistani oil refineries began signing long-awaited agreements with a government-designated entity on Thursday that will allow them to proceed with around $6 billion in planned upgrades, moving a years-long effort to modernize the country’s aging refining infrastructure into the implementation stage. The agreements provide the contractual framework for investments by Pakistan’s existing refiner... - **Profit** — [Four refineries seal $5bn modernisation deals to boost Pakistan’s energy security](https://profit.pakistantoday.com.pk/2026/09/24/four-refineries-seal-dollar5bn-modernisation-deals-to-boost-pakistans-energy-security) · 24 Sep 2026, 9:27 PM PKT · 79% identical wording to the newest filing > Four Refineries Sign $5bn Upgrade Deals; Petrol Output Targeted to Rise 72pc Pakistan’s refining sector set for major overhaul as ARL, NRL, PRL and Cnergyico sign agreements; PARCO expected to follow, potentially taking total investment to $6bn - **Minute Mirror** — [Four Pakistani refineries sign $5bn upgrade agreem...](https://minutemirror.com.pk/four-pakistani-refineries-sign-5bn-upgrade-agreements-634944/) · 24 Sep 2026, 8:09 PM PKT · 83% identical wording to the newest filing > Four major Pakistani oil refineries have formally signed agreements with the government to modernise their facilities, improve fuel quality and increase - **Dawn** — [4 local refineries sign $5bn upgradation deals with govt to improve quality, production](https://www.dawn.com/news/2032352/4-local-refineries-sign-5bn-upgradation-deals-with-govt-to-improve-quality-production) · 24 Sep 2026, 6:15 PM PKT · 87% identical wording to the newest filing > ISLAMABAD: Four of five local refineries on Thursday finally entered into formal agreements with the government to upgrade their refining technologies for cleaner product quality and increased production, with an estimated investment of about $5 billion in five years. The upgradation agreements were signed under the Brownfield Petroleum Refining Policy 2026, which was approved in the last week ... - **BOL News** — [Pakistan's 3 major refineries sign upgrade deals with state-owned gas company](https://bolnews.com/business/pakistans-3-major-refineries-sign-upgrade-deals-with-state-owned-gas-company) · 24 Sep 2026, 4:36 PM PKT · 73% identical wording to the newest filing > Pakistan's Cnergyico, Attock & National Refinery secure crucial upgrade deals, advancing modernization efforts under an amended policy as the October 1 deadline approaches. - **Business Recorder** — [Pakistan’s three major refineries ink upgrade agreements with govt](https://www.brecorder.com/news/40441032/pakistans-three-major-refineries-ink-upgrade-agreements-with-govt) · 24 Sep 2026, 2:00 PM PKT · 73% identical wording to the newest filing > Three major refineries of Pakistan, including Cnergyico Pk, Attock Refinery and National Refinery, have signed agreements with Inter State Gas Systems (ISGS), a state-owned gas company, to proceed with projects to upgrade their existing plants under the country’s amended 2023 refinery policy, the companies said on Thursday. The listed refineries disclosed the development in their respective not... - **ProPakistani** — [2 Major Refineries Sign Govt Deals for Upgrades](https://propakistani.pk/2026/09/24/2-major-refineries-sign-govt-deals-for-upgrades/) · 24 Sep 2026, 1:12 PM PKT · 70% identical wording to the newest filing > Cnergyico Pk Limited and Attock Refinery Limited have signed agreements with Inter State Gas Systems (ISGS) to upgrade their existing… Read More - **Arab News Pakistan** — [Pakistan refineries sign agreements to advance $6 billion upgrade plan](https://www.arabnews.pk/pakistan/pakistan-refineries-sign-agreements-to-advance-6-billion-upgrade-plan-3002182) · 24 Sep 2026, 1:05 PM PKT · 70% identical wording to the newest filing ## Part of a bigger story Other stories whose coverage resembles this one, nearest first. "% related" compares whole stories, not single articles — see [what the percentages mean](https://harzaviya.com/methodology). - [Pakistan's oil refineries to sign $6 billion upgrade deals early next month](https://harzaviya.com/stories/5093-pakistan-s-refineries-set-to-sign-6-billion-modernization) · 29 Aug 2026 · 8 outlets · 2 developments · 96% related - [Pakistan set to sign $6 billion refinery upgrade agreements](https://harzaviya.com/stories/5999-pakistan-set-to-sign-agreements-with-five-oil-refineries) · 4 Sep 2026 · 6 outlets · 2 developments · 95% related - [Pakistan’s refinery upgrade plan moves forward with planned $5bn investment](https://harzaviya.com/stories/3576-pakistan-s-refinery-upgrade-plan-gains-momentum) · 17 Aug 2026 · 3 outlets · 89% related - [Pakistan unveils new refining policy to boost production and investment](https://harzaviya.com/stories/639-pm-approves-refinery-policy-amendments-to-boost-energy) · 31 Jul 2026 · 14 outlets · 3 developments · 84% related - [Pakistan Aims for $5 Billion in Refinery Investment Deals](https://harzaviya.com/stories/2413-petroleum-minister-eyes-5bn-refinery-investment-deals-in-few) · 10 Aug 2026 · 3 outlets · 2 developments · 82% related 15 articles from 10 outlets, 24–25 Sep 2026. 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