2021-04-19 13:35:57 GMT2021-04-19 21:35:57(Beijing Time) Xinhua English
ISLAMABAD, April 19 (Xinhua) The key index of the Pakistan Stock Exchange (PSX) lost over 390 points on Monday as rising cases of coronavirus infections took a toll on investor sentiments.
Economic activities in the country also remained subdued amid protests by a banned religious political party, and resultantly market participants traded stocks cautiously, according to PSX experts.
Selling pressure was observed across the board, with stocks including cement, banking, and exploration and production sectors, ending in the red zone.
The PSX s benchmark KSE 100-Index declined by 0.87 percent, or 392.06 points, to close at 44,913.57 points on Monday when compared with 45,305.63 points reported on Friday.
KSE-100: Protests, strikes dents market sentiment; index loses 392 points
April 20, 2021
Bears returned to the Pakistan Stock Exchange (PSX) on Monday, over rising uncertainty owing to violent protests in Lahore and subsequent calls of countrywide strike.
On the first trading session of the week, the benchmark KSE-100 opened on a negative note and touched intra-day low at 44,611.83 level after losing 693.8 points. However, paring early losses, the index clocked at 44,913.57 by the closing bell after posting loss of 392 points
During the session the market reacted to rising uncertainty in the country, owing to violent protests by the banned outfit in Lahore and subsequent calls of a nationwide strike by former chairman of the Ruet-e-Hilal Committee, Mufti Muneebur Rehman, which was backed by JUI-F chief Maulana Fazlur Rehman and JI Chief Sirajul Haq. The rising political noise dented the sentiments and kicked off a selling pressure.
Byco begins work to produce Euro-5, 6 fuel
Company chairman says civil works and delivery of equipment have been initiated
Talking about oil consumption growth in Pakistan, he said that the oil industry had predicted demand for 30 million tons, but it stood at 20-22 million tons, which was below the projections. PHOTO: REUTERS
ISLAMABAD:
Byco refinery has commenced work on establishing an upgraded plant to convert furnace oil into Euro-5/6 petrol and diesel.
In January this year, Byco Petroleum Pakistan Limited conducted the groundbreaking of the project titled “Upgrade-1”.
Pakistan’s fuel mix has evolved rapidly in the past four years. Until mid-2017, furnace oil or fuel oil was the main feedstock for power plants. This was switched overnight to liquefied natural gas (LNG) in October 2017 by the government’s order.
Byco Refinery to convert FO into petrol, diesel by 2024
National
April 17, 2021
HUB, Balochistan: In a welcoming development, the Byco Refinery has taken the lead in initiating the process to install an upgraded plant in its vicinity aiming to convert furnace oil (FO) by 2024 into petrol and diesel at par with standards of Euro-5/6.
And this is how the refinery, with the capacity to convert crude oil of 155,000 barrels per day into POL products, will be having the capacity to refine the crude oil of 200,000 BPD.
Top notches of various departments of the refinery told this to a select group of journalists from Islamabad here at Hub. The journalists were not only shown various important facilities of the refinery and briefed about their working, they were also taken to the central control room from where the whole functions of various important plants are controlled while refining the crude oil into different petroleum, oil and lubricants.
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