[3][4] It is a petroleum refinery and petrochemical complex engaged in the manufacture and sale of asphalts, BTX, fuel products and lubes for domestic consumption and export.

Hydroskimming fuel refinery was commissioned in April 1977 and its capacity was increased in 1985.

Islamic Development Bank of Saudi Arabia holds 15 percent of the total shares.

[4] The company's major purchases are made from Saudi Aramco, an oil company based in Saudi Arabia, with a history of no default up to the financial year ending 30 June 2011.

In 2017, the Supreme Court of Pakistan imposed fines on National Refinery Limited for missing its due payments to the crude oil supplier Saudi Aramco which then State Bank of Pakistan had to step in and make those payments in the form of foreign currency.