Pakistan is planning its first deep-conversion oil refinery in Hub, Balochistan, a project expected to attract $4.5 billion in investment and create approximately 2,000 direct and indirect jobs.
The initiative aims to strengthen the country’s energy security, reduce its heavy reliance on imported refined petroleum products, and expand domestic industrial capacity.
The Commerce Ministry announced the development following a meeting between Commerce Minister Jam Kamal Khan and a delegation from Standard Performance Evaluation Corporation (SPEC) Refinery Pvt Ltd, the firm spearheading the project.
The refinery is being developed under Pakistan’s Greenfield Refinery Policy, a government framework designed to incentivize technologically advanced, large-scale energy investments to promote import substitution.
According to official statements, the Hub refinery will utilize advanced deep-conversion technology, a specialized process that will allow the facility to maximize the production of high-value petroleum products while processing various grades of crude oil sourced from international markets.
Beyond fuel production, the developers shared plans for associated petrochemical facilities. These units are designed to produce industrial feedstocks and value-added products, which could support the broader domestic manufacturing sector and open new avenues for exports.
During the meeting, the SPEC Refinery delegation confirmed that groundwork has already commenced in the coastal industrial district of Hub, and implementation strategies are currently being finalized. The representatives requested federal support to expedite the remaining regulatory approvals required for the project’s execution.
Minister Jam Kamal Khan reiterated the government’s commitment to facilitating the venture, noting that Pakistan’s strategic location, expanding trade corridors, and growing domestic market make it a prime destination for investment.
“Strategic projects such as the Hub refinery can play a vital role in strengthening industrial capacity, enhancing energy security, creating jobs, and attracting long-term foreign and domestic investment,” Khan added.
Successive governments have long sought upgrades to the country’s refining infrastructure, as upgrading domestic capabilities is seen as vital to easing the national import bill and stabilizing the economy.
