LAHORE: Cnergyico Pk Limited, a key player in Pakistan’s energy sector, has officially announced the resumption of its refinery operations starting May 25th, 2024.
The announcement was made in a formal communication to the Ministry of Energy (Petroleum Division) and subsequently shared with the Pakistan Stock Exchange (PSX) on Friday.
The notice, sent by Cnergyico’s Manager of Customer Services, Shaikh M. Omer, referenced a previous communication from May 14th which initially informed the Ministry of Energy about the temporary shutdown. The resumption marks a significant step in stabilising the company’s operations and contributing to the local economy.
Majid Muqtadir, Company Secretary of Cnergyico, outlined in the disclosure to the PSX that the company has fulfilled all necessary legal obligations under the Securities Act of 2015 and the rules of the PSX. He emphasised the importance of this move for stakeholders and TRE Certificate Holders of the Exchange.
The refinery’s operations are crucial for meeting local demand for refined petroleum products and this restart is expected to have a positive impact on supply chains and pricing in the region.
