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November 24, 2020
Business Latest Pakistan

Byco’s SPM makes 10 million ton imports of POL products

KARACHI: Pakistan’s leading oil company Byco Petroleum’s Single Point Mooring (SPM) has imported 10 million tons of POL products and celebrated six years of safe and continuous operations since its inception today.

Byco’s SPM has been operating since 2012 including the severe monsoon season, which was previously considered impossible for the area. Byco’s SPM is Pakistan’s only floating terminal and revolutionizes the handling of crude oil and refined petroleum products in the country. The SPM has been set up in the deep sea and is connected to a storage tank via 15 km of both on-shore and sub-sea pipelines. Byco has a storage capacity of 243,000 metric tons.

Mansoor Shafique Qureshi, Vice President of Operations, BPPL, remarked at a ceremony marking the achievement: “Byco’s SPM is a national asset for Pakistan. Its continuous safe operations are a testament to our promise of keeping safety Byco’s top priority. I want to congratulate the entire Byco team on this singular achievement and on having imported 10 million tons of POL products since the SPM’s inception.”

Byco’s SPM allows Byco to import and export crude oil and refined petroleum products directly, significantly reducing traffic at Pakistan’s ports situated in Karachi and Port Qasim, and saving the associated delays and demurrage charges. It enables Byco to be the only vertically integrated petroleum firm in the nation.

Byco is Pakistan’s largest oil refiner by design capacity and is the nation’s only firm having a dedicated Single Point Mooring (SPM). Byco’s SPM is the first liquid port in the country, and the company employs a round-the-clock crew dedicated to the safety and security of the buoy and vessels in and around the SPM’s anchorage area. The SPM is Pakistan’s only port having a Tier 3 oil spill response membership.