Pakistan Refinery Limited · PSX:PRL
Pakistan Refinery — Investor Presentation (December 2022)
23 slides from Pakistan Refinery's investor presentation, December 2022
Slide 1: Rising Above, Going Beyond
a RISING ABOVE, GOING BEYOND PAKISTAN REFINERY LIMITED.
Slide 2: Industry Overview
Contract to undertake FEED awarded to M/s Wood Group UK Limited in May 2022. INDUSTRY OVERVIEW
Slide 3: Pakistan's Petroleum Demand 2021-22
PAKISTAN’S PETROLEUM DEMAND 2021-22 3.1 MMT 40% 12.5 MMT 55% HSD 7.8 MMT 160,000 bpd 4.7 MMT 60% TOTAL DEMAND 22.8 MMT 475,000 bpd 6.0 MMT 70% MS 8.5 MMT 200,000 bpd 10.3 MMT 45% 2.5 MMT 30% Production by local refineries Import of petroleum products MMT = Million Metric Tons 3 of 23 bpd = Barrels p
Slide 4: Production Share of Local Refineries 2021-22
PRODUCTION SHARE OF LOCAL REFINERIES 2021-22 0.5 MMT 10% 2.3 MMT 48% HSD 0.6 MMT 14% 4.7 MMT 1.0 MMT 100,000 bpd 10% PRL 0.6 MMT 14% NRL 4.9 MMT 49% 0.6 MMT 14% TOTAL PRODUCTION 1.2 MMT ARL 10.3 MMT 12% 215,000 bpd PARCO 0.2 MMT 1.3 MMT 9% BYCO 50% MS 1.2 MMT 2.5 MMT 0.2 MMT 12% 10% 60,000 bpd 1.7 M
Slide 5: Crude and product prices as per Platts
Crude and product prices as per Platts 180 160 140 120 USD / bbl 100 80 60 40 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 AXL Ms 92 Euro V Euro II HSFO Prices are up to December 18, 2022. 5 of 23
Slide 6: Organisational & Operational Overview
ORGANISATIONAL & OPERATIONAL OVERVIEW ORGANISATIONAL & OPERATIONAL OVERVIEW
Slide 7: PRL Satellite View Profile
PRL SATELLITE VIEW PROFILE • Type: Hydro Skimming SATELLITE VIEW • Design throughput: – 2.1 MMT/year (50,000 bpd) • Commissioned: – October 1962 • Shareholders: – PSO – 63.6% – Others – 36.4% • Major Units: – Crude Distillation Unit – Hydrotreating Unit – Platformer Unit – Isomerisation Unit MMT = M
Slide 8: PRL Operational Network
PRL Operations Network PRL OPERATIONAL NETWORK 8 of 23
Slide 9: Change in Crude Recipe
CHANGE IN CRUDE RECIPE 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 ADNOC Crudes Aramco Crudes KPC Crudes Others Local Crude 9 of 23
Slide 10: Results of Changes in Crude Recipe & Operational Excellence
RESULTS OF CHANGES IN CRUDE RECIPE & OPERATIONAL EXCELLENCE 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 High Speed Diesel Motor Spirit (Petrol) Jet/Kero/Naphtha/LPG Marine Residual Fuel Furnace Oil 10 of 23
Slide 11: Highest Ever Revenue
HIGHEST EVER REVENUE (Rs in billion) 200 191 180 160 142 140 132 116 120 100 80 91 92 91 92 60 70 65 40 20 - 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 11 of 23
Slide 12: Highest Ever Gross Profit
HIGHEST EVER GROSS PROFIT (Rs in billion) 24 20.3 20 16 12 8 4 2.6 3.2 1.9 2.0 1.0 - (0.7) (0.7) (4) (3.2) (4.4) (8) 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 12 of 23
Slide 13: Highest Ever Profit Before Tax
HIGHEST EVER PROFIT BEFORE TAX (Rs in billion) 15.9 16 12 8 4 1.2 1.4 1.6 0.5 0.8 - (0.9) (1.7) (4) (5.2) (8) (6.9) 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 13 of 23
Slide 14: Highest Ever Profit After Tax
HIGHEST EVER PROFIT AFTER TAX (Rs in billion) 15 12.6 12 9 6 3 0.5 1.1 0.5 0.9 0.3 - (0.9) (1.2) (3) (6) (5.8) (9) (7.6) 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 14 of 23
Slide 15: Statement of Profit and Loss – Q1
Statement of Profit and Loss – Q1 Variation Jul - Sep 22 Jul - Sep 21 Amount % (Rupees in thousand) Revenue from contracts with customers 73,111,444 35,628,523 37,482,921 105 Cost of sales (71,506,167) (35,156,094) (36,350,073) 103 Gross profit 1,605,277 472,429 1,132,848 2 times Distribution cost (
Slide 16: Challenges
CHALLENGES • Confirmation of crude oil L/Cs, further aggravated by downgrading of country’s credit rating. • Country’s declining FX reserves has put accelerated the PKR depreciation against USD and other currencies. The oil sector companies are seriously exposed to FX risks. • Disposal of furnace oi
Slide 17: Refinery Expansion and Upgrade Project
REFINERY EXPANSION AND UPGRADE PROJECT
Slide 18: Refinery Expansion and Upgrade Project
REFINERY EXPANSION Refinery Expansion ANDproject and Upgrade UPGRADE PROJECT Refinery Expansion and Upgrade Project (REUP) was approved on December 27, 2021 with the following objectives: • Production of EURO V compliant HSD and MS/Petrol. • Installation of Deep Conversion Refinery Technology to red
Slide 19: Appointment of FEED contractor and Financial Advisor
Appointment of FEED contractor. Appointment of Financial Advisor.
Slide 20: Rebranding of PRL
REBRANDING OF PRL
Slide 21: Evolution of Logo
EVOLUTION OF LOGO 21 of 23
Slide 22: Evolution of Logo: Elements of New Logo
EVOLUTION OF LOGO ELEMENTS OF NEW LOGO ACRONYM PROCESS CRUDE OIL REFINEMENT LOGO MONIKER SUSTAINABILITY AND ENVIRONMENT REFINING PROCESS PRL’s COLOR PAKISTAN 22 of 23
Slide 23: Thank you
CONCEPTUALISATION OF NEW LOGO Thank you 23 of 23
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