Tuesday December 07, 2021

Byco clarifies

August 01, 2020

KARACHI: This is with regards to the news story circulating in various sections of the media pertaining to the oil cargo vessel docked at Byco Petroleum’s SPM at Mouza Kund, Hub, Balochistan.

The oil cargo vessel originating from the Port of Oman was carrying crude oil to be off-loaded to the Byco Refinery via its Single Point Mooring (SPM). The Ministry of Energy (MoE) approached Byco, expressing its concerns and wishing to verify whether the ship was carrying any Iranian crude oil. Byco offered full cooperation to the MoE and provided them with all the relevant documents of the crude oil order. Furthermore, samples of the crude oil have been provided to the MoE for verification of whether the ship is carrying Iranian crude oil or not. Byco officials are constantly in touch with MoE and agencies and so far have not received any report that the ship was carrying Iranian crude nor have Byco’s documentation authenticity been challenged. As a precautionary measure, Byco instantly stopped off-loading any crude oil from the cargo vessel until the MoE has ascertained and cleared in writing that there is no Iranian crude onboard.

Byco, Pakistan largest oil refinery by capacity, prides itself in being law-abiding corporate citizen and remains committed to fulfilling the country’s fueling needs and aims to become the strongest oil company in the country.****