Byco Refinery suspends production for low POL demand
KARACHI: Byco Petroleum Pakistan Limited-Pakistan’s largest oil refinery (by design and installed capacity) has been constrained to put its refinery on cold circulation due to very low demand for petroleum products.
Consumption of POL products in the country has fallen drastically after lock-down in the provinces for effectively controlling the possible spread of coronavirus, which had gripped almost the entire world. Byco chose not to fully shutdown the refining complex so that crude refining operations could be restarted within hours when the demand picked up again. “Byco appreciates the Ministry of Energy’s proactive steps, and supports Government of Pakistan’s stance of prioritizing consumption of domestic crude oil and condensate; keeping domestic refineries operating and minimizing import of POL products,” the statement said. - APP