ANL 34.10 Decreased By ▼ -0.15 (-0.44%)
ASC 13.65 Increased By ▲ 0.30 (2.25%)
ASL 23.40 Increased By ▲ 0.80 (3.54%)
AVN 85.60 Increased By ▲ 1.90 (2.27%)
BOP 7.70 No Change ▼ 0.00 (0%)
BYCO 9.44 Increased By ▲ 0.07 (0.75%)
DGKC 111.51 Increased By ▲ 1.31 (1.19%)
EPCL 48.99 Decreased By ▼ -1.90 (-3.73%)
FCCL 22.85 Increased By ▲ 0.09 (0.4%)
FFBL 25.47 Decreased By ▼ -0.23 (-0.89%)
FFL 15.33 Increased By ▲ 0.03 (0.2%)
HASCOL 8.94 Decreased By ▼ -0.06 (-0.67%)
HUBC 78.43 Decreased By ▼ -0.57 (-0.72%)
HUMNL 6.13 Increased By ▲ 0.29 (4.97%)
JSCL 19.14 Increased By ▲ 0.44 (2.35%)
KAPCO 40.50 Increased By ▲ 1.11 (2.82%)
KEL 3.72 Increased By ▲ 0.04 (1.09%)
LOTCHEM 14.20 Decreased By ▼ -0.15 (-1.05%)
MLCF 42.75 Increased By ▲ 0.45 (1.06%)
PAEL 30.90 Decreased By ▼ -0.17 (-0.55%)
PIBTL 9.52 Increased By ▲ 0.07 (0.74%)
POWER 8.61 Increased By ▲ 0.17 (2.01%)
PPL 82.50 Decreased By ▼ -0.80 (-0.96%)
PRL 23.09 Increased By ▲ 0.32 (1.41%)
PTC 9.00 Decreased By ▼ -0.20 (-2.17%)
SILK 1.38 Decreased By ▼ -0.02 (-1.43%)
SNGP 38.90 Increased By ▲ 0.31 (0.8%)
TRG 165.00 Increased By ▲ 1.78 (1.09%)
UNITY 35.80 Increased By ▲ 0.87 (2.49%)
WTL 1.53 Increased By ▲ 0.08 (5.52%)
BR100 4,846 Increased By ▲ 46.43 (0.97%)
BR30 24,817 Increased By ▲ 123.55 (0.5%)
KSE100 45,175 Increased By ▲ 231.06 (0.51%)
KSE30 18,470 Increased By ▲ 86.89 (0.47%)

Coronavirus
VERY HIGH
Pakistan Deaths
18,677
14024hr
Pakistan Cases
850,131
429824hr
Sindh
289,646
Punjab
314,517
Balochistan
23,016
Islamabad
77,414
KPK
122,520
Business & Finance BYCO (Byco Petroleum Pakistan Limited) 9.44 Increased By ▲ 0.75%

Byco rejects WhatsApp Groups information regarding production from two units

  • Byco Petroleum stated that it ‘strongly denies’ the accuracy of the information stated in above mentioned WhatsApp circulation, clarifying that it does not reflect the factual position on the matter.
11 Jan 2021

Byco Petroleum has negated information circulating on WhatsApp Groups stating that it has started production from its Diesel Hydro DeSulphurising Unit and Fluid Cracking Unit.

“The Company wishes to draw the attention of Exchange to false information circulating on WhatsApp groups stating that Byco Petroleum has started production from two units (Diesel Hydro DeSulphurising Unit and Fluid Cracking Unit) with the facilitation of its subsidiary Byco Industries Incorporated,” Byco said in its filing to the bourse on Monday.

Byco Petroleum stated that it ‘strongly denies’ the accuracy of the information stated in above mentioned WhatsApp circulation, clarifying that it does not reflect the factual position on the matter.

“As disclosed at its Extraordinary General Meeting held in 2nd April 2020, that as part of its Upgrade Project, Byco Petroleum Pakistan Limited would install Fluid Catalytic Cracking ("FCC") unit along with its associated plants for cracking of furnace oil into Gasoline and Diesel and a Diesel Hydro Desulfurization ("DHDS") unit for removal of Sulfur from Diesel,” the company stated.

Byco informed that it has already made progress on the project as per the schedule, and a ground breaking ceremony was held on Saturday, January 09, 2021 to commence civil construction of the project.

“We further clarify that the company, its sponsors, major shareholders and directors have no connection to the above cited false WhatsApp circulation which has apparently caused unexpected rally in Company's shares traded on the PSX,” it added.