On February 6, the foundation stone was laid by the then Minister for Fuel, Power and Natural Resources. By July, the silhouette of the Refinery could be seen as it appears today. In addition to this construction at Korangi, it was necessary to build a Tank Farm at Keamari. There the crude oil to be discharged from tankers in the Karachi harbour could be stored, before being transferred to the Refinery tanks at Korangi.
On October 28, the plant came into operation two months ahead of schedule. It incorporates some of the most modern refinery equipment and techniques. On November 14, the opening of the Refinery was performed by Field Marshal Mohammad Ayub Khan, President of Pakistan. The design capacity of the Refinery was to process 1 million tons of crude oil annually, but that very year it was decided to expand the capacity of the Refinery to 2.1 million tons per annum, as soon as possible after operations had commenced.

Today, Products derived from refining of crude oil meet an overwhelming part of the world energy needs. PRL , since inception has been the principle manufacturer and supplier of petroleum products to the domestic markets, Pakistan Defense Force and Railways. It continues to server the energy needs of the country with professional excellences and high degree of commithment. PRL takes pride in the competitive edge it enjoys of respect of efficiency, lower operating cost, high quality human resource, reliability and introduction to newer geration technologies.