Byco’s Floating Terminal Imports 5 million tons of crude oil

News Image

By MG News | October 17, 2017 at 03:54 PM GMT+05:00

0:00

5 Million Tons of Crude Oil imported since commissioning of Byco’s Single Point Mooring (SPM) in 2012

Byco’s SPM has continuously operated safely since its launch in 2012, including through monsoon periods from June to September

Byco Petroleum’s Single Point Mooring has imported 5 million tons of crude oil since its inception. It has been in continuous operation since 2012 including the severe monsoon season from June through September, which was previously considered impossible for the area. Byco’s SPM is Pakistan’s only floating terminal and revolutionizes the handling crude oil and refined petroleum products in the country. The SPM has been set up in the deep sea and is connected to a storage tank via 15 km of both on-shore and sub-sea pipelines. Byco has a storage capacity of 140,000 metric tons.

Mr. Amir Abbassciy, CEO, BPPL, remarked on the achievement: “Byco’s SPM is a national asset for Pakistan. Its continuous safe operations is a testament to our promise of keeping safety our top priority. I want to congratulate the entire Byco team on this singular achievement and on having imported 5 million tons of crude oil since inception.”

The SPM allows Byco to import and export crude oil and refined petroleum products directly, significantly reducing traffic at Pakistan’s ports situated in Karachi and Port Qasim. It enables Byco to be the only vertically integrated petroleum firm in the nation. Byco expects to import 4.5 million tons of crude oil through the SPM in the current fiscal year ending 30 June 2018.

Related News

Name Price/Vol %Chg/NChg
KSE100 128,199.43
336.91M
2.05%
2572.11
ALLSHR 79,787.62
1,023.63M
1.53%
1202.91
KSE30 39,105.00
121.90M
2.49%
951.21
KMI30 186,915.61
131.16M
1.10%
2029.11
KMIALLSHR 54,201.88
553.60M
0.81%
438.07
BKTi 33,476.68
51.49M
4.87%
1555.00
OGTi 27,962.58
9.77M
0.68%
188.60
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 105,940.00 106,200.00
105,440.00
190.00
0.18%
BRENT CRUDE 67.23 67.29
67.05
0.12
0.18%
RICHARDS BAY COAL MONTHLY 97.50 97.50
97.50
0.70
0.72%
ROTTERDAM COAL MONTHLY 103.80 103.80
103.80
-3.45
-3.22%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 65.53 65.65
65.34
0.08
0.12%
SUGAR #11 WORLD 15.70 16.21
15.55
-0.50
-3.09%

Chart of the Day


Latest News
July 02, 2025 at 06:01 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 01, 2025 at 10:04 PM GMT+05:00

Pakistan’s trade deficit improves by over 9% in June


July 01, 2025 at 05:24 PM GMT+05:00

Gold price in Pakistan rises Rs6,600 per tola



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg