National Refinery Limited (PSX: NRL) has closed its Hydrogen Production Unit for 6 weeks due to unscheduled maintenance, the company informed the Pakistan Stock Exchange on Monday.
“It is to inform that due to unscheduled maintenance work on Hydrogen Production Unit (HPU), the unit has been shut down for a period of 6 weeks, tentatively. Till such time, the Company shall produce HSD compliant with EURO-I specifications,” the filing stated.
NRL is engaged in the manufacturing, production, and sale of a large range of petroleum products. The refinery complex of the Company comprises three refineries, consisting of two lube refineries, and a fuel refinery added to the complex. The company has also commissioned Diesel Hydro Desulphurisation (DHDS) and Isomerisation (ISOM) units during the financial years 2017 and 2018 respectively.
Today’s unscheduled closure could impact the domestic supply chain of petroleum products for the aforesaid duration as the company’s HPU undergoes maintenance work.
At the time of filing, NRL’s scrip at the bourse was Rs. 161.25, up 7.5 percent or Rs. 11.25 with a turnover of 287,396 shares on Monday.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
Advocates High Court & Tax Counsel
Jurisdiction: Pakistan