logo
ARL signs agreement with STP Studi Technologie Progetti of Italy

ARL signs agreement with STP Studi Technologie Progetti of Italy

ISLAMABAD: Attock Refinery Ltd (ARL) on Wednesday signed an agreement for Front End Engineering Design (FEED) and Project Management Consultancy (PMC) for refinery upgradation project with STP Studi Technologie Progetti of Italy.
Carlo Gustavo Lombardi, CEO, STP and Adil Khattak, CEO, ARL signed on behalf of their companies.
This is an important milestone towards ARL's goal of value addition and environment friendly production.
ARL has already completed Licensor FEED studies for addition of Continuous Catalyst Regeneration (CCR) Unit and Revamp of Diesel Hydro Desulfurization Unit by UOP/ Honeywell of USA under it's major upgradation project at an estimated project cost of upto $600 million.
Copyright Business Recorder, 2025
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Buying momentum persists, KSE-100 gains ovr 600 points
Buying momentum persists, KSE-100 gains ovr 600 points

Business Recorder

time29-07-2025

  • Business Recorder

Buying momentum persists, KSE-100 gains ovr 600 points

The Pakistan Stock Exchange (PSX) observed buying momentum, with the benchmark KSE-100 Index gaining over 500 points during the opening minutes of trading on Tuesday. At 11:35am, the benchmark index was hovering at 139,982.79 level, an increase of 602.74 points or 0.43%. Buying was seen in key sectors including automobile assemblers, cement, commercial banks, fertilizer, oil and gas exploration companies and refinery. Index-heavy stocks, including ARL, PRL, MARI, POL, PPL, SNGPL and UBL traded in the green. On Monday, PSX saw modest upward momentum, fueled by investor interest in cement and technology stocks ahead of the monetary policy announcement and key corporate earnings. The benchmark KSE-100 Index gained 172.77 points, or 0.12%, to close at 139,380.06 points Internationally, Asia shares eased on Tuesday while the euro nursed its losses as investors pondered the downside of the US-EU trade deal and the reality that punishing tariffs were here to stay, with unwelcome implications for growth and inflation. The initial relief over Europe's 15% levy quickly soured when set against the 1% to 2% that stood before President Donald Trump took office. Leaders in France and Germany lamented the outcome as a drag on growth, pulling down stocks and bond yields across the continent while slugging the single currency. Trump also flagged a 'world tariff' rate of 15% to 20% on all trading partners that were not negotiating a deal, among the highest rates since the Great Depression of the 1930s. A further risk to world growth came from a sudden spike in oil prices after Trump threatened a new deadline of 10 or 12 days for Russia to make progress toward ending the war in Ukraine or face tougher sanctions on oil exports. The air of caution saw MSCI's broadest index of Asia-Pacific shares outside Japan slip 0.7%. Japan's Nikkei eased 0.8% while Chinese blue chips fell 0.1%. This is an intra-day update

Buying momentum persists, KSE-100 gains ovr 500 points
Buying momentum persists, KSE-100 gains ovr 500 points

Business Recorder

time29-07-2025

  • Business Recorder

Buying momentum persists, KSE-100 gains ovr 500 points

The Pakistan Stock Exchange (PSX) observed buying momentum, with the benchmark KSE-100 Index gaining over 500 points during the opening minutes of trading on Tuesday. At 9:35am, the benchmark index was hovering at 139,934.68 level, an increase of 554.63 points or 0.40%. Buying was seen in key sectors including automobile assemblers, cement, commercial banks, fertilizer, oil and gas exploration companies and refinery. Index-heavy stocks including ARL, PRL, MARI, POL, PPL, SNGPL and UBL traded in the green. On Monday, PSX saw modest upward momentum, fueled by investor interest in cement and technology stocks ahead of the monetary policy announcement and key corporate earnings. The benchmark KSE-100 Index gained 172.77 points, or 0.12 percent, to close at 139,380.06 points Internationally, Asia shares eased on Tuesday while the euro nursed its losses as investors pondered the downside of the US-EU trade deal and the reality that punishing tariffs were here to stay, with unwelcome implications for growth and inflation. The initial relief over Europe's 15% levy quickly soured when set against the 1% to 2% that stood before President Donald Trump took office. Leaders in France and Germany lamented the outcome as a drag on growth, pulling down stocks and bond yields across the continent while slugging the single currency. Trump also flagged a 'world tariff' rate of 15% to 20% on all trading partners that were not negotiating a deal, among the highest rates since the Great Depression of the 1930s. A further risk to world growth came from a sudden spike in oil prices after Trump threatened a new deadline of 10 or 12 days for Russia to make progress toward ending the war in Ukraine or face tougher sanctions on oil exports. The air of caution saw MSCI's broadest index of Asia-Pacific shares outside Japan slip 0.7%. Japan's Nikkei eased 0.8% while Chinese blue chips fell 0.1%. This is an intra-day update

KSE-100 sheds over 800 points amid selling pressure
KSE-100 sheds over 800 points amid selling pressure

Business Recorder

time09-07-2025

  • Business Recorder

KSE-100 sheds over 800 points amid selling pressure

Selling pressure was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index settling with a loss of over 800 points on Wednesday. Negative sentiments prevailed throughout the trading session, dragging the KSE-100 Index to an intra-day low of 132,326.17. At close, the benchmark index settled at 132,576.98, a decrease of 826.21 points or 0.62%. Selling was seen in key sectors including commercial banks, fertilizer, oil and gas exploration companies and refinery. Index-heavy stocks including ARL, NRL, MARI, OGDC, PPL, POL, MCB, MEBL and UBL traded in the red. On Tuesday, the PSX witnessed a volatile trading session as the market swung sharply between gains and losses before settling almost flat at 133,403.19 points, a modest increase of 33 points or 0.02%. Globally, the US dollar traded close to a 2-1/2-week high versus major peers on Wednesday while copper hit an all-time peak overnight after US President Donald Trump broadened his global trade war by threatening a 50% tariff on the metal. Trump also said levies on semiconductors and pharmaceuticals were coming soon, weighing on Wall Street on Tuesday, with futures indicating further weakness there on Wednesday. However, stock markets around the Asia-Pacific were mixed, as investors digested Trump's latest, shifting trade salvos. Japan and South Korea are among major U.S. trading partners in the region facing an August 1 deadline to reach a trade deal or be subjected to new tariff rates, although Trump has sent mixed signals on how flexible that date is. On Monday, Trump said it was 'firm, but not 100% firm,' reinforcing the view among some in markets that the deadlines are a negotiating tactic that the US president will ultimately back away from. On Tuesday though, Trump appeared to harden his stance by saying, 'No extensions will be granted.' Japan's Nikkei edged down 0.2%, shedding early small gains. Australia's stock index declined 0.4%, and Hong Kong's Hang Seng lost 0.9%. At the same time, mainland Chinese blue chips rose 0.2%, and South Korea's KOSPI climbed 0.5%. US S&P 500 futures eased 0.1%, following a 0.1% loss for the cash index on Tuesday that extended the 0.8% drop that started the week.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store