The acquisition of Puma Energy Pakistan means Cnergyico is now the second largest fuel retailer after state-owned PSO.
The change in market position for Cnergyico comes after it was announced it was going to acquire a majority stake in Puma Energy Pakistan Private Limited.
After the acquisition, Cnergyico will become the second largest retail fuel network in Pakistan overall, behind only the state owned Pakistan State Oil (PSO).
Based on the current numbers shared by OMCs in Pakistan, Cnergyico is overtaking Shell and Total to become the leading private sector fuel retailer in the country.
The deal with Puma will add 542 fuel stations to Cnergyico’s holdings, taking its total to about 1,000 and making it the largest private fuel retailer in the country. State-owned Pakistan State Oil Co has 3,500 retail stations, Total Parco Pakistan Ltd has more than 800 outlets and Shell Pakistan Ltd has 766 outlets.
Even before the acquisition that has significantly expanded the portfolio of the company, Cnergyico had one of the largest refining capacities in the country. They are the owners of Pakistan’s biggest oil refineries with an installed total capacity of 156,000 barrels per day located in Hub, Balochistan. Furthermore, the company owns a dedicated deep-sea oil terminal that is used to import oil for the refineries.
For more information visit www.byco.com.pk
