Cnergyico Pk Limited, formerly Byco Petroleum Pakistan Limited, is Pakistan’s largest oil refining company, with the nation’s highest refining design capacity of 156,000 barrels per day. Incorporated as a refining company in 1995, Cnergyico has since transformed immensely. Starting from a mere 30,000 bbl/day to currently 156,000 bbl/day. In response to the changing business environment, the Company has embarked upon a new journey: to further modernize its refining infrastructure to diversify its business, catering to tomorrow’s petrochemical and energy requirements of the nation. The Company aims to create synergy in the energy vertical, leveraging its strengths and adapting to new forms of energy that are developing both locally and globally. To commemorate this diversification and expansion reflecting its new position in the industry, it rebranded itself as Cnergyico Pk Limited.
Currently engaged in the businesses of oil refining, petroleum, and lubricants marketing, Cnergyico has become a leader in Pakistan’s energy sector, producing a wide range of refined petroleum products, including LPG, Motor Gasoline, Kerosene, Jet Fuels, High-Speed Diesel and Furnace Oil. The Company’s vision is to achieve sustainable productivity and deliver shareholder returns while upholding high environmental, health and safety standards.
Cnergyico’s founder, Mr. Pervez Abbasi, established the Company as Bosicor in 1995 to help make Pakistan self-sufficient in energy production. His dream materialized two decades later in 2015 with the launch of Oil Refining Complex-II, Cnergyico’s larger refining facility. It is Pakistan’s single largest refinery, with a design capacity of 120,000 barrels per day. Cnergyico hopes to keep increasing its production, saving Pakistan’s economy and national exchequer precious foreign exchange which would otherwise be spent on importing refined products. In 2007, Cnergyico launched its first retail outlet in Sukkur. Since then, Cnergyico’s oil marketing retail network has expanded rapidly. Today Cnergyico has approximately 450 retail outlets nationwide and is growing quickly, making it the only vertically integrated oil refinery in Pakistan.
One of Cnergyico’s major strategic advantages is its Single Point Mooring (SPM) facility, which is the nation’s only floating port. The SPM is anchored in the deep sea, approximately 15 km from the coast of Hub, Balochistan. The SPM allows the Company to import and export crude oil and refined petroleum products directly to its refinery storages through 11.5 km subsea and 3.5 km onshore pipelines. Cnergyico’s SPM is a strategic asset for Pakistan’s economy and is considered a national asset.
The SPM imported its first shipment of crude oil in December 2012 and has been in continuous operation since then, including during the severe monsoon season, a feat which was previously considered impossible for the area. Due to its position in the deep sea, the SPM’s depth of 26 meters allows handling of much larger vessels (VLCC or Very Large Crude Carriers) to deliver large shipments of oil and oil products, providing economies of scale to the Company.
In January 2021, Cnergyico conducted the ground-breaking of its Upgrade-I Project, which includes the installation of Pakistan’s largest, state-of-the-art Fluidized Catalytic Cracking (FCC) unit and a Diesel Hydro Desulphurizing (DHDS) unit. This upgrade will allow Cnergyico to reduce the sulfur content of diesel produced and convert furnace oil into gasoline and diesel, enabling the company to be the first Pakistani refiner to produce Euro-V compliant fuels.
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