The Oil and Gas Regulatory Authority (OGRA) issued guidance, urging refineries to promptly sign the agreed draft agreement pertaining to the Brownfield Refinery Policy within the specified deadline.
OGRA has been actively involved in a series of meetings with refineries and representatives from the Ministry of Energy, Petroleum Division, focusing on discussions surrounding the Brownfield Refinery Policy.
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This policy is crucial as it allows existing refineries to undergo upgrades for the production of Euro-V compliant fuels. The final draft of the agreement, aligning with federal government policy guidelines, was shared with refineries on November 8.
In response to the recommendations, refineries have received the final agreed draft of the agreement and are expected to sign it within the stipulated time frame. However, certain refineries have raised objections, which, according to OGRA, go beyond the established policy guidelines of the federal government.
These objections have been communicated to the federal government for consideration and resolution. Despite these challenges, OGRA has advised refineries to proceed with signing the agreed draft agreement within the specified timeframe.
