A Byco container is seen in this file photo. Facebook
ISLAMABAD: Byco Petroleum has started physical work on up-gradation plant of its refinery to convert furnace into Euro-5/6 petrol and diesel and plans to establish two more Single Point Mooring (SPMs) over the next couple of years.
Byco Petroleum Pakistan Ltd (BPPL), which has now been rebranded as Cinergyco Pk Ltd after the replacement of Abraaj as fund manager of Infrastructure & Growth Capital Fund (IGCF), recently has held the groundbreaking of the “Upgrade-1” project recently, BPPL’s chairman Muhammad Wasi Khan told a group of journalists.
Pakistan’s fuel mix has evolved rapidly in the past four years. Till mid-2017, furnace oil or fuel oil was the main feedstock for power plants. This was switched to LNG in October 2017 by the then government ahead of application of IMO-2020 that banned high sulfur furnace oil as bunker fuel with effect from January last year. Suddenly hydro-skimming refineries had no market lef