PARCO, Cnergyico lead $1bn refinery exports

Pakistan’s oil refining sector has achieved a major milestone. The country’s five major refineries exported petroleum products worth around $1.046 billion during the fiscal year 2025-26. This is the first time that the refinery sector has crossed the $1 billion export mark. The development has also strengthened the sector’s role as a source of foreign exchange for Pakistan. The achievement comes as the country continues to face pressure from a large trade deficit, estimated at around $40 billion. Pakistan Arab Refinery Company (PARCO) recorded exports of around $277 million. Cnergyico Pakistan Limited exported petroleum products worth approximately $258 million. National Refinery Limited (NRL) recorded exports of around $238 million. Pakistan Refinery Limited (PRL) exported products worth approximately $200 million. Meanwhile, Attock Refinery Limited (ARL) exported petroleum products worth nearly $73 million. PARCO and Cnergyico remained the biggest contributors, with their combined exports reaching approximately $535 million, accounting for more than half of the total exports. The latest figures show the industry is increasingly contributing to both reducing the import burden and generating foreign exchange. Cnergyico has also entered the global marine fuel market, potentially expanding export opportunities. Industry modernization is expected to improve efficiency and enable production of internationally compliant products, boosting future exports and import savings. This development is particularly significant as Pakistan’s economy faces critical external account pressures.