Byco Petroleum

Byco Oil Pakistan Limited is a Pakistani petroleum company which is a subsidiary of the Mauritian company Byco Industries Incorporated.

Byco Oil Pakistan
TypePublic
PSX: BYCO
IndustryPetroleum
Founded1995 (1995)
FounderParvez Abbasi[1]
HeadquartersKarachi, Pakistan
Area served
Pakistan
Key people
Wasi Khan (chairman)
Number of employees
867
Websitewww.byco.com.pk

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.[2]

History

Byco Petroleum 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).[3]

Byco'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. Byco 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. Byco's marketing network supports retail outlets in more than 100 cities all over Pakistan and is an emerging player. Byco aims to become the first refinery in Pakistan by upgrading its facilities to ensure environmental compliance.[4]

Financial Performance

Byco posted Rs 2.43 billion overall loss for the fiscal year 2020, which resulted in Rs 0.46 loss per share.[5]

Products
  • Liquid fuels
  • Gasoline
  • Jet fuel
  • Ultra winterized diesel
  • Furnace oil
  • Compressed natural gas (CNG)
  • Liquefied petroleum gas (LPG)
  • Lubricants

References
  1. "The scapegoating of Byco… and what it says about Pakistan's energy sector". Profit by Pakistan Today. 18 April 2021.
  2. Byco Petroleum to become Pakistan's largest fuel maker says: Bloomberg Pakistan Today (newspaper), Published 16 June 2017, Retrieved 21 June 2021
  3. Byco's SPM: Pakistan's first and only Floating Liquid Port YouTube website, Published 18 April 2018, Retrieved 21 June 2021
  4. Byco begins constructing plants for Euro 5 and 6 gas and diesel The News International (newspaper), Published 13 January 2021, Retrieved 21 June 2021
  5. "Losses mount for BYCO". Business Recorder (newspaper). 25 September 2020. Retrieved 21 June 2021.
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