Cnergyico temporarily shuts down refinery due to high petroleum stocks
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MG News | May 14, 2024 at 03:30 PM GMT+05:00
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.
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