Cnergyico PK Signs Upgradation Agreement with Government of Pakistan

Cnergyico PK Limited has signed the Upgradation Agreement with the Government of Pakistan through its state‑owned enterprise, Inter State Gas Systems (Private) Limited (“ISGS”), pursuant to the approval of the Economic Coordination Committee (ECC) of the Cabinet under the Pakistan Oil Refining Policy for Upgradation of Existing/Brownfield Refineries, 2023, as amended in August 2026.

Under the Policy, ISGS has been nominated as the implementation entity on behalf of the Petroleum Division to execute the Upgradation Agreement, which provides for the upgradation of the Company’s existing refinery, including implementation of the approved refinery upgradation project, in accordance with the terms and conditions stipulated under the Policy.

The Company remains committed to upgrading and modernizing its refinery in line with the objectives of the Policy and expresses its appreciation to the Government of Pakistan for its support and initiatives towards facilitating the modernization and upgradation of the country’s refining sector.

The signing ceremony was held in Islamabad and was attended by representatives of the Government of Pakistan and the participating refineries.

This disclosure is being made in compliance with the applicable provisions of the Pakistan Stock Exchange Limited Rule Book.

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