Base Oil Report: As per reports and information from our sources,The National Refinery Ltd (NRL) has raised its base oil prices by up to 6 percent to Rs105 per litre from January 20, 2012.NRL, the only producer of base oil in Pakistan, will use this increase to off set some portion of its losses which the company is expecting in the second quarter ending December 2011 due to fall in base oil prices to Rs101 per litre at end of 2011 and in January 2012. NRL was selling base oil at Rs 119 per litre in November 2011. Base oil is used as a raw material to make lubricants of different grades, he noted.Base oil sale contributes about 80 percent to NRL’s total profit and therefore, fall in its prices affects its overall profit. This decline had reduced NRL’s share prices by 16 percent, Khan added. He said the increase in base oil prices would help the company in mitigating the impact of recent rupee depreciation and will have nominal impact on its earnings.