Byco Petroleum Limited is being renamed as Cnergyico Pk Limited after the approval of the board of directors in the recent meeting, according to the stock filing.
The company has been rebranded after the replacement of Abraaj as Fund Manager of Infrastructure & Growth Capital Fund (IGCF).
The board of directors of Byco Petroleum Pakistan Limited has considered and approved a change in the company’s name from’ Byco Petroleum Pakistan Limited’ to ‘Cnergyico Pk Limited,’ it stated.
The company, at its Extraordinary General Meeting (“EGM”) dated 26th April 2021, had approved the change of the name of the company from ‘Byco Petroleum Pakistan Limited’ to ‘Cinergyco Pk Limited’. After the said EGM, the majority shareholder of the company shared the name change certificate, which states its new name as ‘Cnergyico Mu Incorporated.’
There is a minor difference in the name of the majority shareholder. Accordingly, to ensure unification and harmonization of the name of the company with its majority shareholder, the name of the company is being changed from ‘Byco Petroleum Pakistan Limited’ to ‘Cnergyico Pk Limited.’
Earlier in 2009, the company had been rebranded as Byco Petroleum Limited from its old name Bosicor Pakistan Limited.
Cnergyico PK Limited is an integrated petroleum company operating a refinery, petroleum outlets, and single-point mooring.
The company has started physical work on the up-gradation plant of its refinery to convert furnace into Euro-5/6 petrol and diesel and plans to establish two more Single Point Mooring (SPMs) over the next couple of years.
