BPPL renamed to Cnergyico Pk Ltd

KARACHI: Byco Petroleum Pakistan Limited (BPPL) on Wednesday announced changing its name from Byco Petroleum to Cnergyico Pk Limited.

Commenting on the change, Chief Executive Officer Cnergyico Pk Ltd (former BPPL) Amir Abbassciy said the journey from Bosicor to Byco and then Cnergyico had been challenging yet exciting.

“Since the company's inception, innovation has played an important role, and as a result, we have, throughout the years, evolved from an oil company to a strategic oil refining and marketing company,” he said.

He further said that in light of the present worldwide pandemic and financial crisis, the oil and gas sector has and continues to experience significant transformations.

Cynergyico Pk Ltd. is the only oil company in Pakistan in possession of a Single Point Mooring (SPM) located in the open sea off the coast of Mouza Kund Hub, Balochistan. According to the company, it has expanded production from 13,000 barrels per day to 156,000 barrels per day and operates more than 400 retail outlets across the country.

The name Cnergyico Pk Limited, derived from Chemical Energy Integrated Company, represents the company's new position in the market where creating synergy in the energy vertical is the goal. It intends on achieving this by making use of its existing assets as well as investing heavily in exploring varieties of energy that are emerging both domestically and globally.