PSO clears air about its investment in PRL
KARACHI: Pakistan State Oil Company (PSO) has clarified that its investment worth $1.5-2 billion through debt in Pakistan Refinery Limited’s (PRL) Refinery Expansion & Upgrade Project (REUP) is still at a premature stage and nothing conclusive or definitive has taken place.
In a letter to the Pakistan Stock Exchange (PSX) on Thursday, PSO, a state-owned oil marketing company (OMC), clarified this while responding to a news report related to the issue. ‘PRL, being a listed company, shall inform the PSX as and when any material development takes place with regards to REUP,” the notice added.
Last month, in a briefing to analysts of brokerage houses, PSO indicated about its investment in the refinery upgrade project, estimated to require $1.5-2 billion, which will be primarily financed through foreign borrowing.PSO holds majority stakes of 63.6 per cent in PRL.
-
Hailee Steinfeld Spills Her 'no-phone' Rule With Husband Josh Allen -
Bowen Yang Gets Honest About Post SNL Life: 'It’s An Adjustment' -
Charlize Theron Delivers Strong Message At 2026 Winter Olympics Opening Ceremony -
Lil Jon Reacts To Son Nathan Smith's Death: 'Devastated' -
Bianca Censori Reveals Where She And Kanye West Stand On Having Children Together -
Taylor Swift Hypes Olympic Athletes In Surprise Video Message -
Timothy Busfield Charged With Four Counts Of Child Sexual Abuse -
Amy Schumer Explains Why Her Sudden Photo Surge Is ‘not A Cry For Help’ -
Kanye West First Contacted Bianca Censori While In Marriage To Kim Kardashian? -
Travis Kelce Reveals What His Nieces Really Do When He, Taylor Swift Visit -
Lola Young Makes Career Announcement After Stepping Back From Touring -
Priyanka Chopra Shares Heartfelt Message For Nick Jonas -
Spotify, Major Labels File $13b Lawsuit Over Alleged Music Scraping -
Travis Kelce Opens Up About Being Backup Plan For His Nieces -
Winter Olympics 2026: Chinese Robot Dance Goes Viral In Milan -
Jessica Biel Urged To Divorce Justin Timberlake?