Attock Refinery Shuts Down Main Crude Distillation Unit

Attock Refinery Limited (PSX: ATRL) has announced the shutdown of its main crude distillation unit, effective immediately.

The company made this announcement in a filing with the Pakistan Stock Exchange (PSX) on Monday.

Reason for Shutdown:

The shutdown of Attock Refinery Crude Distillation Unit is attributed to high stocks of diesel, which has forced the company to take this step.

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Company Overview:

Attock Refinery Limited is a subsidiary of The Attock Oil Company Limited, England, and its ultimate parent is Coral Holding Limited, a private limited company incorporated in Malta. The company is primarily engaged in the refining of crude oil.

Market Impact:

The company’s stock closed at Rs. 411 on Monday, down 1.88% or Rs. 7.88, with a turnover of 4.4 million shares.

This development may have significant implications for the company’s operations and the oil refining sector as a whole.