Tuesday, Aug 31, 2010
SINGAPORE (Dow Jones)--Pakistan's largest refinery remains shut with no immediate plans of a restart as access to the refinery is hampered by flood waters, a spokesman for Pak Arab Refinery Ltd., or Parco, said Tuesday.
"We still have product stocks at the refinery. Some offtake has begun, but we're waiting for oil retailers to start lifting product at a steady rate before we can decide on a restart date," Shah Saad Husain told Dow Jones Newswires by phone.
Parco was forced to shut the 100,000-barrel-a-day refinery, located at Mahmood Kot near Multan, around the second week of August after flood damage cut off access to the refinery. Husain said the refinery itself was damaged in the floods and the company was poised to restart the plant as soon as the marketing companies begin steady product offtake.
-By Gurdeep Singh, Dow Jones Newswires; 65-6415 4064; gurdeep.singh@dowjones.com
(END) Dow Jones Newswires
31-08-10 0451GMT
