Cnergyico

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Cnergyico Pk Limited
FormerlyByco Petroleum Pakistan Limited / Bosicor Pakistan Limited
TypePublic
PSX: CNERGY
IndustryPetroleum
Founded1995; 28 years ago (1995)
FounderParvez Abbasi[1]
HeadquartersKarachi, Pakistan
Area served
Pakistan
Key people
Wasi Khan[2] (chairman)
Productssee below
Number of employees
867
ParentCnergyico Industries Incorporated
Websitewww.cnergyico.com

Cnergyico Pk Limited (formerly Byco Petroleum Pakistan Limited / Bosicor Pakistan Limited)[3] is a Pakistani petroleum company which is a subsidiary of the Mauritian company Cnergyico Industries Incorporated.

Company overview

It is based in Karachi, Pakistan. It works in oil refining, petroleum marketing, and petroleum logistics business in Pakistan. It is traded on the Pakistan Stock Exchange.[4]

Cnergyico’s holdings has 982 petrol pumps. Whereas the State-owned Pakistan State Oil Co. has 3,500 petrol pumps, Total Parco Pakistan Ltd. has 800 petrol pumps and Shell Pakistan Ltd. has 766 petrol pumps.[5]

Cnergyico is Pakistan's largest oil refinery by design capacity (155,000 barrels per day) and is the nation's only firm having a dedicated Single Point Mooring (SPM).[6] Cnergyico's SPM the first and only liquid port in the country. The SPM is Pakistan's only terminal having a tier 3 oil spill response membership.[6][7]

Cnergyico refines crude oil into various marketable components including Liquefied Petroleum Gas, Light Naphtha, Heavy Naphtha, High Octane Blending Component, Motor Gasoline, Kerosene, Jet Fuels, High Speed Diesel and Furnace Oil. Having operated as a low complexity refinery since inception, it is upgrading to produce more high value products, with reduced sulphur content, in diesel and convert furnace oil into gasoline and diesel. Cnergyico's marketing network supports retail outlets in more than 100 cities all over Pakistan and is an emerging player. Cnergyico aims to become the first refinery in Pakistan by upgrading its facilities to ensure environmental compliance.[7]

Acquisition

Cnergyico Pk Ltd acquiring 57.37 per cent shares of Puma Energy Pakistan and has become the country’s second-largest fuel retailer.[8]

Financial Performance

Cnergyico posted Rs 2.43 billion overall loss for the fiscal year 2020, which resulted in Rs 0.46 loss per share.[9]

Products

References

  1. ^ "The scapegoating of Byco… and what it says about Pakistan's energy sector". Profit by Pakistan Today. 18 April 2021.
  2. ^ "Refineries lament IPPs still not lifting furnace oil". Dawn (newspaper). 6 January 2022. Retrieved 23 January 2022.
  3. ^ Reporter, The Newspaper's Staff (3 December 2021). "Byco Petroleum renamed as Cnergyico". DAWN.COM. Retrieved 20 January 2022.
  4. ^ Byco Petroleum to become Pakistan's largest fuel maker says: Bloomberg Pakistan Today (newspaper), Published 16 June 2017, Retrieved 21 June 2021
  5. ^ "Cnergyico leaps ahead of Shell and Total to become largest private-sector fuel retailer". Profit by Pakistan Today. 16 January 2022. Retrieved 24 January 2022.
  6. ^ a b Byco's SPM: Pakistan's first and only Floating Liquid Port YouTube website, Published 18 April 2018, Retrieved 21 June 2021
  7. ^ a b Byco begins constructing plants for Euro 5 and 6 gas and diesel The News International (newspaper), Published 13 January 2021, Retrieved 21 June 2021
  8. ^ Reporter, The Newspaper's Staff (14 January 2022). "Cnergyico buys majority stake in Puma Energy". DAWN.COM. Retrieved 24 January 2022.
  9. ^ "Losses mount for BYCO". Business Recorder (newspaper). 25 September 2020. Retrieved 21 June 2021.

External links

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