Cnergyico Pk Limited and Attock Refinery Limited have signed agreements with Inter State Gas Systems (ISGS) to upgrade their existing refineries under the government’s Pakistan Oil Refining Policy for Upgradation of Existing/Brownfield Refineries, 2023.

Cnergyico signed its Upgradation Agreement with ISGS on September 24, following approval by the Economic Coordination Committee (ECC) of the Cabinet under the policy, as amended in August 2026. ISGS has been nominated as the implementation entity on behalf of the Petroleum Division.

The agreement covers the implementation of Cnergyico’s approved refinery upgradation project. The company said it remains committed to upgrading and modernizing its refinery and appreciated the government’s support for the modernization of the refining sector.

Separately, Attock Refinery Limited said it had successfully executed an Upgradation Agreement with ISGS, which was mandated and nominated by the Ministry of Energy’s Petroleum Division under the same refining policy.

Attock Refinery said the agreement marks a significant milestone in its efforts to modernize and upgrade its existing refinery infrastructure, enhance operational efficiency, improve product quality, produce Euro V standard fuels, and contribute toward a more sustainable and secure energy future for Pakistan.

Cnergyico’s signing ceremony was held in Islamabad and attended by government representatives and participating refineries.

The government introduced the Pakistan Oil Refining Policy for Upgradation of Existing/Brownfield Refineries in 2023 to modernize the country’s existing refineries, improve fuel quality, and increase domestic production of petrol and diesel while reducing furnace oil output.

The policy was amended in 2024 and again in August 2026 after a prolonged delay in implementation, with the upgrade agreements now expected to unlock around $6 billion in investment across Pakistan’s five major refineries.