Cnergyico temporarily shuts down refinery due to high petroleum stocks

MG News | May 14, 2024 at 03:30 PM GMT+05:00

0:00

May 14, 2024 (MLN): Cnergyico Pk Limited (PSX: CNERGY) has decided to temporarily shut down its refinery due to unavoidable ullage issues pertaining to alarmingly high petroleum products stocks.

The company shared the development in its notice to the Pakistan Stock Exchange (PSX) on Tuesday.

The petroleum products mainly include High-Speed Diesel (HSD) and Premium Motor Gasoline (PMG).

Cnergyico sent a letter to the Ministry of Energy's petroleum division, requesting support in timely disposal of its petroleum stocks, enabling the company to restart production.

Copyright Mettis Link News

Related News

Was Investor Ready for T+1?

Citi Pharma to list Citi Veterinary Pharma, targets Rs2bn IPO

PSX Closing Bell: The Climb Begins Again

Name	Price/Vol	%Chg/NChg
KSE100	157,132.10 429.92M	3.39% 5159.10
ALLSHR	93,566.86 763.32M	2.62% 2388.00
KSE30	48,302.97 218.66M	4.27% 1976.50
KMI30	220,798.52 207.58M	4.07% 8628.34
KMIALLSHR	59,988.53 433.51M	2.75% 1606.15
BKTi	46,193.08 61.76M	4.26% 1887.06
OGTi	30,193.10 21.94M	3.73% 1086.31

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	68,015.00	69,740.00 66,385.00	-1465.00 -2.11%
BRENT CRUDE	82.49	85.12 78.38	4.75 6.11%
RICHARDS BAY COAL MONTHLY	99.40	0.00 0.00	-7.85 -7.32%
ROTTERDAM COAL MONTHLY	124.15	139.50 124.15	5.35 4.50%
USD RBD PALM OLEIN	1,083.50	1,083.50 1,083.50	0.00 0.00%
CRUDE OIL - WTI	75.64	77.98 70.41	4.41 6.19%
SUGAR #11 WORLD	13.96	14.20 13.91	0.05 0.36%