While Pakistan might be known as one of the biggest importers of oil, Byco Petroleum has turned the country into an oil-exporting nation as its refinery ship loaded with furnace oil left Karachi Port earlier today.
A senior official at the KarachiPortTrust (KPT) revealed that Roy Maersk oil tanker loaded with furnace oil from Byco Petroleum anchored at the Op-2 berth left Karachi Port at 5:30 AM on Tuesday.
Although the destination of the oil shipment remains unknown, it is believed that the shipment is headed to an oil-rich Middle Eastern country. Officials of Byco are yet to comment on the development.
Sources from the petroleum division have revealed that Byco Petroleum intends to export more than 25,000 tons of furnace oil, increasing foreign exchange reserves of Pakistan