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Oil refining company Cynergico has announced to upgrade its operations in Pakistan at par with international standards for producing higher profit petrol and diesel products.
Under the project, the company aims to double its processing capacity to 50 thousand barrels which in turn will boost domestic oil refining in the country.
The upgradation project will be completed by 2028 at an estimated cost of one billion dollars.
The project will reduce dependency on furnace oil and imports of expensive refined products resulting in significant savings in foreign exchange.
The Special Investment Facilitation Council has eased the agreement between the government and private oil companies.
Source: Radio Pakistan