The combined profits of Pakistan's largest oil refining companies increased by more than 1,860% in the quarter ending in September 2026, compared to the same period last year.
According to Report, citing Nikkei Asia, all four publicly traded refineries listed on the Pakistan Stock Exchange reported significant growth in net profit during the quarter.
Their combined profit exceeded 57 billion Pakistani rupees (approximately $206 million), compared with 2.9 billion rupees in the corresponding period a year earlier.
Attock Refinery ranked first with a profit of 18.65 billion rupees, followed by Pakistan Refinery with 13.97 billion rupees. Cnergyico Pk posted a profit of 12.88 billion rupees, while National Refinery earned 11.57 billion rupees.
As Cnergyico Pk reported a net loss in the same quarter last year, its profit growth rate could not be calculated. For the other three companies, profit growth exceeded 1,000%.
According to Nikkei Asia, the sharp increase in profits was driven by higher refining margins amid disruptions in global markets. Rising prices following the outbreak of the US-Iran conflict and the closure of the Strait of Hormuz contributed to fuel shortages and boosted refinery earnings.
($1= 277.16 Pakistani rupees on November 2)