Pakistan Refinery Limited (PRL) is a Pakistani oil refinery based in Karachi. It is listed on the Pakistan Stock Exchange.[2]
History
In the late 1950s, the Soviet Union offered to assist Pakistan in constructing an oil refinery, on the condition that the facility would process only oil imported from the Soviet Union.[3] In response, the Government of Pakistan engaged private sector companies operating in the country and proposed a joint venture to establish a refinery in Karachi. The private companies accepted the government's proposal as an alternative to the Soviet offer.[3] Accordingly, in September 1959, the Government entered into an agreement with a consortium of four oil companies, Burmah Oil Company, California Texas Oil Corporation, The Shell Petroleum Company, and Standard Vacuum Oil Company