Pakistan’s four largest listed oil refineries earned a combined profit of more than Rs57 billion in the quarter ending September 2026, a sharp jump from Rs2.9 billion in the same quarter a year earlier, according to figures reported by Nikkei Asia on November 2, 2026.
What happened?
The four companies — Attock Refinery, Pakistan Refinery, Cnergyico PK and National Refinery — reported a combined net profit of more than Rs57 billion (around $206 million) for the July–September quarter, up more than 1,860 per cent year on year. The surge came as disruptions to global energy supplies pushed up fuel prices and widened refining margins.
Key details:
- Attock Refinery led the gains with a net profit of Rs18.65 billion.
- Pakistan Refinery reported Rs13.97 billion, followed by Cnergyico PK at Rs12.88 billion and National Refinery at Rs11.57 billion.
- Three of the four companies recorded year-on-year profit increases of more than 1,000 per cent. Cnergyico PK posted a net loss in the same period last year, so its result is not directly comparable.
- Nikkei Asia linked the stronger margins to oil price increases following the outbreak of the U.S.-Iran conflict and the closure of the Strait of Hormuz, which squeezed fuel supplies.
- Pakistani refiners benefited from the widening gap between crude oil costs and the selling prices of refined petroleum products.
- The reports note that the exceptional market conditions behind the surge raise questions about whether such earnings can be sustained.
What it means for people in Pakistan:
Strong refinery earnings point to a period of unusually wide refining margins, which matters because refineries sit between imported crude oil and the petrol and diesel sold at pumps across Pakistan. For consumers, the key question is how long these conditions last and how they feed through to fuel pricing; for investors and workers in the energy sector, the results underline how sharply global supply shocks can swing refinery profits from one quarter to the next.
Source: https://anewz.tv/region/south-asia/26218/pakistan-oil-profits-surge-by-more-than-1860/news
