Entity

Cnergyico Pk Limited is Pakistan's largest and most strategically important oil refining company, serving as the nation's only vertically integrated petroleum enterprise. The company operates as a comprehensive energy organization engaged in oil refining, petroleum marketing, and petroleum logistics throughout Pakistan.

Corporate Identity and History

The company was incorporated on January 9, 1995 under the repealed Companies Ordinance 1984, originally established as Bosicor Pakistan Limited. The company underwent significant branding evolution, first changing its name to Byco Petroleum Pakistan Limited in 2010, and most recently rebranding to Cnergyico Pk Limited in December 2021. The name "Cnergyico" derives from "Chemical Energy Integrated Company," reflecting the organization's strategic positioning to create synergy across the energy value chain and diversify into petrochemicals.

This transformation was spearheaded by founder Parvez Abbasi and his son Amir Abbassciy, who envisioned making Pakistan self-sufficient in energy production. The rebranding represents the company's evolution from a traditional oil refinery to a comprehensive energy and chemicals enterprise positioned to meet future energy requirements.

Business Structure and Operations

Cnergyico operates through two primary business segments:

• the Oil Refinery Business and Petroleum Marketing Business.
• The petroleum marketing operations were formally launched in 2007.

The company's operational capacity includes Pakistan's largest oil refinery complex with a total capacity of 156,000 barrels per day (comprising a 36,000 bpd facility and a 120,000 bpd complex), making it the highest refining capacity in the country. The organization operates more than 465 retail outlets nationwide and continues expanding by approximately 35-40 outlets annually.

Product Portfolio

Cnergyico produces a comprehensive range of refined petroleum products including:

• Liquid fuels: Motor gasoline, high-speed diesel, jet fuel, ultra-winterized diesel, furnace oil, and bunker fuel
• Gaseous fuels: Compressed natural gas (CNG) and liquefied petroleum gas (LPG)
• Specialty products: Light and heavy naphtha, high-octane blending components, kerosene, and lubricants

The company serves multiple market segments including retail, industrial, consumer, and international markets, with particular strength in Pakistan's bunkering segment where it maintains over 50% market share

Ownership Structure

Cnergyico operates as a subsidiary of Bosicorco International Limited (formerly Cnergyico Mu Incorporated), a Mauritian entity. The ownership structure includes:

• Associated companies and related parties: 73.44% stake
• Local general public: 20.67% shareholding
• Modarabas and Mutual funds: 1.2% ownership
• Other categories: Remaining ownership distribution

Strategic Initiatives and Future Plans

Cnergyico is implementing several major strategic initiatives:

• Refinery Modernization Program: The company plans a $1 billion refinery upgrade project to align with Pakistan's new Oil Refining Policy, aimed at producing Euro-V compliant fuels and significantly increasing production of Motor Gasoline (48%) and High-Speed Diesel (33.3%) while reducing Furnace Oil output to 9.3%.
• Corporate Restructuring: The Board of Directors approved a comprehensive corporate reorganization scheme involving the company and six wholly-owned subsidiaries: Bosicorco ORB 1, Bosicorco ORB 2, Bosicorco OMB 1, Bosicorco OSB 2, Bosicorco CPB 1, and Cnergyico Isomerate PK. This restructuring aims to enhance commercial structure, corporate governance, and operational efficiency.
• Export Expansion Strategy: Due to high domestic taxes affecting local sales, Cnergyico has significantly increased fuel oil exports to 95% of production since July 2025, compared to 55% in the previous fiscal year. The company projects a 35-40% increase in fuel oil exports for FY2026.
• Diversification into Petrochemicals: The company is developing an Aromatic Plant project with 27,300 barrels per day capacity to produce benzene, mixed xylene, para xylene, ortho xylene, C₉, and raffinate, representing significant diversification into petrochemicals.