Pakistan’s largest oil and gasoline explorer, Oil and Gasoline Improvement Firm Restricted (OGDCL), is ready to make fairness funding as a strategic investor in Pakistan Refinery Restricted (PRL).
The 2 corporations have signed a memorandum of understanding (MoU) to discover this selection.
One of many key points of this cooperation contains OGDCL’s fairness funding in PRL as a strategic investor with satisfactory board illustration, aimed toward upgrading and progress of the refinery.
“OGDCL has established a strategic partnership with PRL to determine and pursue potential cooperation alternatives and foster mutual progress within the vitality trade of Pakistan,” stated a press release.
“The MoU units the framework for future collaboration and cooperation between the 2 corporations.”
Each companies will work collectively to execute vital agreements, together with confidentiality agreements for knowledge trade, and determine appropriate funding alternatives.
Revealed in The Specific Tribune, Might 25th, 2023.
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