KARACHI: Byco Petroleum Pakistan Limited celebrated its Silver Jubilee last week completing 25 years of operations. Byco was founded on 9 January 1995, and has become Pakistan’s largest oil refining company by installed capacity in the past quarter century. Byco has made untiring efforts to serve the nation and to achieve its mission of becoming Pakistan’s premier Oil Company despite facing serious obstacles in its path.
Byco’s CEO Amir Abbassciy, remarked on Byco’s Silver Jubilee: “On 9 January 1995, my father, Mr. Parvez Abbasi, and I founded this company with the vision to make Pakistan self-sufficient in energy production. Mr. Abbasi was a farsighted leader who instilled in Byco a consuming desire to dream. His dreams and vision continue to guide Byco and help us grow.
“Byco launched its first refinery in 2004, with a refining capacity of 18,000 barrels per day. In 2007 we launched our first retail outlets in Sukkur and Rawalpindi. In 2012, Byco commissioned Pakistan’s first and only Single Point Mooring, a dedicated deep sea floating port for petroleum shipments, a national strategic asset which has imported 11 million tons of crude oil to date. The SPM is a testament to the innovative spirit that my father instilled into Byco’s DNA.” Abbassciy went on to say: “Today, Masha Allah, Byco has 389 retail outlets across the country with about half of our products sold through our own marketing channel. Our road has never been easy: Byco has seen more serious challenges than any other refinery in the course of our existence.
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