KARACHI: Pakistan’s refining sector posted a strong performance in April 2026, with total refinery uplift increasing by 12.7 per cent year-on-year (YoY), driven mainly by higher demand for high-speed diesel (HSD) and furnace oil (FO).
HSD uplift rose 11.3 per cent YoY to 442,000 tonnes. The increase was supported by potential disruptions in HSD imports, tighter controls on Iranian fuel inflows and improved refinery utilisation levels.
According to industry data, FO offtake also recorded a significant rise of 26.0 per cent year-on-year to 235,000 tonnes. Oil marketing companies (OMC) sales of FO jumped 62.7 per cent to 137,000 tonnes. Motor spirit (MS) uplift, however, declined slightly by 1.7 per cent YoY during the month.
On a cumulative basis, refinery uplift during the first ten months of FY26 stood at 9 million tonnes, an increase of 12.6 per cent YoY. Growth was led by higher MS and HSD offtake, which rose by 11.6 per cent and 21.9 per cent, respectively.
Attock Refinery Limited (ATRL) recorded sales of 153,000 tonnes in April 2026, up 32.7 per cent YoY. FO sales surged by 297.5 per cent to 58,000 tonnes. However, MS and HSD sales declined by 10.6 per cent and 8.9 per cent, respectively, due to disruptions in crude oil supply caused by road closures. This led to a temporary shutdown of its main crude distillation unit (32,400 barrels per day capacity) from April 22, with operations resuming on May 4 after supply normalised. ATRL’s market share increased to 16 per cent, above its historical average of 13.8 per cent.
Pakistan Refinery Limited (PRL) posted an 18.1 per cent YoY increase in sales to 132,000 tonnes, supported by growth in MS and FO volumes, which rose by 23.4 per cent and 33.9 per cent, respectively.
National Refinery Limited (NRL) registered strong growth, with sales rising 78.0 per cent year-on-year to 143,000 tonnes, driven by increases across MS (49.4 per cent), HSD (78.6 per cent) and FO (79.8 per cent).
Cnergyico PK Limited (CNERGY) also posted a 29.9 per cent YoY increase in sales to 146,000 tonnes, supported by gains in MS and HSD volumes, which rose by 65 per cent and 67.4 per cent, respectively.
Refinery production increased by 10.7 per cent year-on-year in April 2026 to 993,000 tonnes, led by higher output of HSD (up 15.1 per cent to 502,000 tonnes) and MS (up 5.8 per cent to 235,000 tonnes). The increase reflects stronger demand from OMCs and improved utilisation amid expectations of price adjustments.
Industry utilisation stood at 58.1 per cent in April 2026, slightly higher than 58.0 per cent in March 2026 and above 52.5 per cent in April 2025.
In terms of throughput, HSD accounted for 50.5 per cent of production, while MS and FO contributed 23.6 per cent and 19.7 per cent, respectively.
ATRL operated at a utilisation rate of 59.4 per cent, with improved MS and HSD throughput, while FO output declined compared with historical levels.
PRL recorded the highest utilisation rate at 76.1 per cent, with gains across MS, HSD and FO.
NRL operated at 62.4 per cent utilisation, with improved FO throughput but relatively lower MS and HSD output.
CNERGY reported the lowest utilisation rate at 24.1 per cent, despite higher MS and HSD throughput, while FO output remained below historical averages.
