Byco Group was founded by Founder Chairman Mr. Parvez Abbasi (Late) in the mid-90s with the vision to pioneer change in Pakistan’s energy sector. Byco Petroleum Pakistan Limited was formed in January 1995 as a public limited company.
Byco installed its first oil refinery with a 30,000-barrels-a-day capacity at Mouza Kund, Hub Balochistan and began commercial production on July 1, 2004 with various saleable components including liquefied petroleum gas, light naphtha, heavy naphtha, high-octane blending components, motor gasoline, kerosene, jet fuels, high speed diesel and furnace oil. This refinery now has been upgraded to produce 35,000 barrels per day.
The company ventured into the petroleum marketing business in 2008, setting up its first retail outlet; the retail network has since seen exponential growth.
After successful establishment of the first refinery, the group decided to establish a 120,000-barrels-per-day refinery under the new company Byco Oil Pakistan Limited in 2008 and bought an aromatic plant for future implementation.
Abraaj Capital Limited (ACL), a leading private equity firm from the Middle East, North Africa and South Asia (MENASA) region, invested in private equity with the Byco Group in February 2008.
In December 2012, Byco successfully executed the largest refinery in the country. This new refinery was installed near the existing refinery and has a capacity of 120,000 barrels a day. This new refinery helped Byco establish itself as Pakistan’s biggest oil refinery with a combined production capacity of 155,000 barrels per day.
In 2012, Byco achieved yet another milestone by successfully completing the Single Point Mooring project. This floating port is the first of its kind in the country and has the capacity to handle very large petroleum cargo vessels.
