Karachi: Attock Refinery Limited (ARL) has announced a shutdown of its main crude distillation unit, a move necessitated by a significant decline in crude stocks. The unit, which has a capacity of 32,400 barrels per stream day (BPSD), is expected to remain non-operational until June 1, 2025.

The decision to halt operations comes as a consequence of the ongoing high pressure in the Sui Northern Gas Pipelines Limited (SNGPL) system, a situation exacerbated by the influx of imported liquefied natural gas (LNG). This elevated system pressure has led to a mandatory reduction in gas production from local oilfields, subsequently affecting the supply of crude oil to ARL.

According to information available from the Pakistan Stock Exchange (PSX), the shutdown is in compliance with the regulatory requirements under clause No. 5.6.1 of the PSX Rule Book and sections 96 and 131 of the Securities Act, 2015. The refinery has been experiencing a reduction in crude oil production and supply due to these pressures, prompting the decision to temporarily cease operations.

Market participants and TRE Certificate Holders of the Exchange have been requested to take note of this development. The shutdown underscores the challenges faced by the refining sector in managing supply chain disruptions and operational constraints.