Pakistan refineries in upgrade phase Many companies are making heavy investment to ramp up business There are five major oil refineries that have a combined installed capacity of slightly over 417,000 barrel per day in Pakistan. PHOTO: FILE KARACHI: Pakistan’s dying petroleum oil refineries are in the planning phase or at an advanced stage of heavy investment-led upgrades to remain in business, as almost all of them are operating at half of their installed capacity due to production of out-of-demand products like furnace oil. Output of the outdated product sometimes spills over the storage capacity and hinders manufacturing of co-products in demand like petrol and diesel from the crude oil. Owing to the emergence of gas crisis time and again in the country for the past couple of years, the government agreed to lift the ban on use of furnace oil to produce electricity on and off.