Karachi May 19 2022: Cnergyico PK Limited (CNERGY) resume its operations after remaining close for few days according to company filling to the exchange.
Refinery was temporarily taken out of circulation for a few days due to a delay in arrival of crude oil cargo, which arrived on 16th May 2022, at the SPM and is under clearance. The production plan for the remaining part of the month will make up for the deficit.
In the month of June the refineries expect 2-3 further cargoes depending on the refineries throughputs.
However, the challenges relating to increasing crude oil prices and the massive devaluation of the PKR remain significant and on-going, for which the Company is in active discussions with its financial institutions.
“Cnergyico management assures that the Company is to keep its stakeholders and shareholders up to date on the progress.” Says Chief Executive Officer Amir Abbassciy.
Cnergyico Pk Limited was incorporated in Pakistan as a public limited company on 09 January 1995 under the repealed Companies Ordinance, 1984. The Company currently operates two business segments namely Oil Refinery Business and Petroleum Marketing Business. Petroleum Marketing Business was formally launched in 2007.
